Fema / RBI : A regulatory sandbox allows fintech, especially start ups to test their products with fewer regulatory requirements, with less ris...
Fema / RBI : RBI cuts repo rate to 6.25%, revises GDP and inflation forecasts, introduces forward contracts in G-Secs, enhances cybersecurity, ...
Fema / RBI : With fiscal prudence in focus, will the RBI cut rates or use other tools? As global economies adjust, all eyes are on India's mone...
Fema / RBI : Concerns rise over improper practices in microfinance involving misuse of Rule 12 Declarations and MGT-14 forms by private and Sec...
Fema / RBI : Key updates on the regulatory framework for microfinance loans including borrower guidelines, loan repayment, and charges. Underst...
Fema / RBI : The Indian Rupee has depreciated against the US Dollar over the past decade. The government explains causes, trade impacts, and RB...
Fema / RBI : The Indian government takes measures to regulate digital lending platforms and protect citizens from exploitation by unauthorized ...
Fema / RBI : The government’s actions on gold price regulation, import duty reduction, RBI purchases, and support for consumers amid a 40% in...
Fema / RBI : Government clarifies no policy for writing off loans of willful defaulters. Banks handle write-offs as per RBI guidelines, retaini...
Fema / RBI : RBI seeks applications from faculty for research scholarships in economics and finance. Deadline: November 5, 2024. Duration: 3 mo...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Corporate Law : Unraveling the NCLAT Chennai verdict in the GVK Energy Vs Axis Bank case, underscoring the supremacy of IBC over RBI's directions ...
Company Law : Reserve Bank of India Vs Srei Infrastructure Finance Limited (NCLT Kolkata) 1. The Court convened via video conferencing. 2. This ...
Fema / RBI : Supreme Court mandates strict procedures for bank lockers. Ensure compliance, notify changes, maintain records. Judgment details i...
Fema / RBI : In re Cognizance for Extension of Limitation (Supreme Court) With reference to the prayer, that the period of validity of a cheque...
Fema / RBI : RBI issues guidelines for reporting and accounting of March 2025 government transactions, with deadlines and procedures for agency...
Fema / RBI : The RBI has revised risk weights on microfinance loans, setting them at 100% for RRBs and LABs while excluding consumer credit mic...
Fema / RBI : RBI restores risk weights on SCB exposures to NBFCs, reversing the 25% increase from November 2023. New rules take effect from Apr...
Fema / RBI : The RBI has revised prudential norms for Urban Co-Op Banks, including small loan limits, real estate exposure, and provisioning re...
Fema / RBI : RBI introduces RBIDATA mobile app, providing macroeconomic and financial data on the Indian economy with interactive charts and se...
In their published annual Balance Sheets for the year ending March 2009, in addition to the disclosures regarding restructured loans required in terms of paragraph 8 of the circular dated August 27, 2008 referred to above, banks should also disclose the amount and number of accounts in respect of which applications for restructuring are under process, but the restructuring packages have not yet been approved.
The list of 18672 audit firms, which have been recommended by the RBI for statutory branch audit assignments in public sector banks during the year 2008-09 is hosted on the website. Members are requested to click on the link given below the announcement. Thereafter push the keys (Ctrl+f) together. A small window would open at […]
Members may note that mere receipt of an application for restructuring does not by itself makes the advance(s) referred to above qualified to retain its classification as Standard Asset(s).
Do auditors – facing flak for endorsing falsified accounts in the Satyam scandal – have enough time to do their work properly? The Institute of Chartered Accountants of India (ICAI), trying to save the profession’s credibility under assault this year, has underlined the need to give central statutory auditors sufficient time to prepare audit reports. […]
The Delhi Consumer Commission has directed the HDFC Bank to pay Rs 35,000 as compensation to an export house for forcibly seizing a financed car on its failure to pay two instalments.”Whenever any bank resorts to such a method, it is liable to compensate the consumer as to the mental agony, harassment and humiliation suffered by him and return the post-dated cheques,” the Commission headed by Justice J D Kapoor said.
The Institute of Chartered Accountants of India, which frames accounting standards for the country, has opposed a proposal of the Reserve Bank of India to relax the provisioning norms for non-performing assets. According to the proposal, commercial banks need not classify a non-serviced loan under NPAs if the borrower has submitted an application for restructuring […]
The Reserve Bank of India (RBI) has appointed global management and consultancy firm ERNST & YOUNG to review the performance of its 80 chief general managers. According to an RBI spokesperson, E&Y will design and facilitate a 360-degree evaluation of the senior functionaries and a give feedback to the central bank. * The 360-degree evaluation […]
In order to restore credibility in the Satyam-tainted work of auditors, the Institute of Chartered Accountants of India (ICAI), the apex body that regulates the profession of chartered accountancy in India, is considering various options, including demanding more powers for itself. “The institute needs to have more teeth and there is need to make changes […]
The Institute of Chartered Accountants of India (ICAI) has approached the Finance Ministry and the Reserve Bank of India (RBI), seeking a reversal of their decision to liberalise the system for appointment of statutory branch auditors by public sector banks (PSBs). Until three years ago, RBI allotted such branch auditors, based on a panel of […]
Less than a week after third-quarter GDP estimates showed a lower-than-expected 5.3 per cent growth rate, the Reserve Bank of India on Wednesday surprised the market and sent fresh signals to banks to lower lending and deposit rates by pruning the repo rate and the reverse repo rate by 50 basis points each. The repo […]
