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...
Here’s some good news for savings account holders. The savings account will yield 30 to 40 basis points more to the account holder from Wednesday with the banks shifting to the new method for calculating interest on savings deposits. Following the Reserve Bank guidelines, the banks would be required to calculate interest on savings deposits on a daily basis beginning April 1.
The Reserve Bank of India today said it may come out with guidelines on new banking licences in about three months. “It (framework on new banking licences) may take three months. It all depends on what are the situations and complexities of issues,” RBI Deputy Governor K C Chakrabarty said on the sidelines of an event organised by SKOCH.
The Reserve bank of India has asked banks to reveal more information on their market operations, including data related to top 20 depositors, 20 largest borrowers, exposure to four largest non-performing accounts and special purpose vehicles sponsored by them, for the current fiscal.This, officials said, was to ensure the industry followed international best practices and to enhance transparency in banking operations. The disclosures are to be made part of the ‘Notes to Accounts’ in banks’ balance sheets.
In July, 2009, a total of 129 un-banked blocks were identified in the country. As a result of the concerted efforts made by the Government, Reserve Bank of India (RBI) and the Banks in providing banking facilities in the un-banked blocks, the number of such blocks has come down to 93 in February, 2010.
If your bank rejects any of your currency notes in the Rs 1,000 or Rs 500 denomination on the suspicion of it being fake, you have a right to fight. The problem of fake notes in circulation has assumed serious proportions across the country, particularly in Hyderabad.
The State Bank of India (Amendment) Bill 2010 contains a provision that will further limit the Reserve Bank of India’s powers on bank auditor appointment. The provision allows SBI to appoint its own statutory auditors. The Central Government too will have no say in the appointment of statutory auditors of SBI.
The Reserve Bank of India (RBI) plans to amend its rules to pre-empt non banking finance companies (NBFCs) from misusing the liberal rules governing limited liability partnership (LLP) firms. In the interim, NBFCs that want to convert themselves to LLP firms will have to obtain a no-objection certificate from the central bank.
Mandatory doubling of the limit for collateral free loans to micro and small enterprises (MSEs) sector to Rs.10 lakh from the present Rs. 5 lakh, increase in the extent of guarantee cover, absorption of guarantee fees for the collateral free loans by CGTMSE subject to certain conditions, lower guarantee fees for women entrepreneurs and enterprises in the North-East, simplification of procedure for filing claims with CGTMSE and increasing awareness about the scheme are some of the recommendations of the Working Group set up to review the Credit Guarantee Scheme of the Credit Guarantee Fund Trust.
With the April 1 deadline to migrate to the base rate model fast approaching, bank chiefs are likely to raise concerns about the new system and seek an extension of the deadline during their scheduled meeting with top RBI officials on Friday. Bankers are worried the new model will affect their business of giving short-term loans to corporate clients at cheaper rates (sub-PLR loans) as lending rates on such loans will go up at least by 2 per cent in the base rate system.
Scheme for Collection of Dues of ( i ) Central Board of Direct Taxes ( ii ) Central Board of Excise and Customs ( iii) Departmentalised Ministries Account – Reporting and Accounting of March Transactions – Special Arrangements – Financial Year 2009-2010
