Fema / RBI : RBI plans to ease registration norms for low-risk NBFCs to reduce compliance burden. The move aims to encourage innovation while m...
CA, CS, CMA : CBDT corrected multiple ITR forms to fix structural and computational errors. The update ensures accurate tax reporting and reduce...
Fema / RBI : The issue concerns liability in unauthorised digital transactions. The ruling insight highlights that absence of a clear definitio...
Fema / RBI : The RBI maintained key policy rates unchanged, signaling confidence in economic stability and controlled inflation. The decision r...
CA, CS, CMA : The latest amendments aim to simplify compliance and promote investment while reducing penalties. The update signals a major shift...
Fema / RBI : The amendment redefines revenue reserves by excluding provisions for liabilities and depreciation. This ensures clearer classifica...
Fema / RBI : RBI revises the definition of revenue reserves to exclude provisions and liabilities. The change enhances transparency and consist...
Fema / RBI : The Reserve Bank of India has removed a key provision from capital adequacy norms to ensure consistency with updated investment ru...
Fema / RBI : RBI introduces annual IFR assessment instead of continuous compliance for RRBs. The change reduces operational burden while mainta...
Fema / RBI : The Reserve Bank of India has proposed a clear 5% IFR requirement for rural co-operative banks’ current investments. This change...
Fema / RBI : The court held that failure to apply Clause 3(d) of the RBI Master Circular invalidated the wilful defaulter declaration. Non-Exec...
Corporate Law : The court held that Ombudsman’s finding of customer negligence was unsustainable and directed bank to refund disputed amount. Th...
Corporate Law : Court ruled that protections under the RBI Circular apply only to third-party breaches and cannot be invoked to recast personal tr...
Fema / RBI : Rajasthan High Court stays a ₹7 crore deposit for Tijaria Polypipes' OTS, directing Bank of India to comply with RBI circulars a...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Fema / RBI : The RBI has consolidated all previous e-mandate guidelines into a single framework governing recurring digital payments. The key t...
Fema / RBI : The update prohibits most INR derivative contracts with related entities. Only specific transactions such as cancellations and non...
Fema / RBI : The issue involved restrictive branch approval requirements for NBFCs. RBI removed prior approval norms, allowing easier expansion...
Fema / RBI : The RBI proposes replacing the existing dual methodology with a single asset-based criterion for identifying NBFC-UL entities. The...
Fema / RBI : The discussion paper addresses increasing APP frauds and proposes preventive safeguards like transaction delays and authentication...
Reserve Bank of India, in its Annual Monetary Policy, allowed four more credit information companies (CIC) to start operations. This will strengthen the credit appraisal system. Bankers felt that soon electricity bill, telephone bill and other payments would become part of the credit appraisal system that banks use before sanctioning a loan to the customer.
(i) All banks should obtain RBI approval for IPOs. After listing on the stock exchanges, banks are free to price their subsequent issues. (ii) Issue price should be based on merchant banker’s recommendation. There need be no reference to the CCI formula for deciding on the pricing of such issues.
Was there a secret meeting between officials of the income tax (I-T) and enforcement directorate (ED)? It is learnt that the tax sleuths met in Mumbai recently to discuss if certain deals of the Indian Premier League (IPL) are in accordance with the Reserve Bank of India guidelines.
Home, auto and consumer loan rates are unlikely to move up in the near future despite a 0.25 percentage points hike in the key policy rates with bankers today assuring that they will not make loans dearer anytime soon as liquidity is sufficient in the system.
The Reserve Bank today said it will come out with a discussion paper on new norms for granting banking licenses to private sector companies and Non-Banking Financial Companies by July end. The discussion on new banking licences will be posted on the website of the central bank for public comments, RBI governor D Subbarao said while unveiling the monetary policy for 2010-11.
32 banks have been given approval to provide mobile banking facility in the country by the Reserve Bank of India. 21 banks have started providing these services. Mobile banking is a secure application, which takes care of end-to-end encryption of data in transit to offer banking information and transactions. Customer is forced to change the activation code and mPIN sent to him at the time of registration. He is also driven to decide a password to log-in to the application. Customer also has a choice to change the mPIN, log-in password at any point of time.
Monetary Policy Measures Complement Finance Ministry’s Policies Aimed at Controlling Inflation and Promoting Sustainable Growth: FM. Finance Minister, Shri Pranab Mukherjee has welcomed the Monetary Policy 2010-11 announced today by the Reserve Bank of India. Finance Minister’s observations on Monetary Policy are as under:
Core Investment Companies :-Reserve Bank of India [RBI] has announced on 20 April 2010 a proposal to introduce a new regulatory framework for Non-Banking Financial Companies [NBFC] which are “Core Investment Companies” [CIC]. The announcement was made as part of Annual Monetary Policy for the year 2010-11.
The Monetary Policy for 2010-11 is set against a rather complex economic backdrop. Although the situation is more reassuring than it was a quarter ago, uncertainty about the shape and pace of global recovery persists. Private spending in advanced economies continues to be constrained and inflation remains generally subdued making it likely that fiscal and monetary stimuli in these economies will continue for an extended period.
Repo Rate :- It has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 5.0 per cent to 5.25 per cent with immediate effect. Reverse Repo Rate :- It has been decided to increase the reverse repo rate under the LAF by 25 basis points from 3.5 per cent to 3.75 per cent with immediate effect.
