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 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...
Fema / RBI : The issue was fragmented regulations on NRI debt investments. RBI consolidated and updated directions to streamline compliance und...
Another Press Note or a clarification could be issued to make clear that the government will ensure that sectors such as multi-brand retail, agriculture, lottery and atomic energy, where foreign investment is prohibited, will be kept out of the reach of even indirect foreign investment.
Capital account convertibility means that an investor is allowed to move freely from the local currency to a foreign currency. India has limited capital account convertibility to prevent shocks to the capital account and maintain a stable exchange rate, by stipulating sectoral norms that ensure a lock-in period for investments.
CAPITAL adequacy ratio—the minimum amount of capital banks have to set aside while lending—of Indian banks would continue to remain higher than the minimum regulatory requirement of 9% even if sticky loans, or NPAs, were to more than double. Addressing a seminar at the the London Business School on Thursday, RBI deputy governor Rakesh Mohan […]
Banking and market regulators are considering a proposal authorising auditors to directly verify financial information of their clients with banks where they hold accounts, a person familiar with the situation told. Currently, rules of the Institute of Chartered Accounts of India require auditors to physically verify the cash and bank balances of companies they audit, […]
At present, interest on savings bank accounts is calculated on the minimum balances held in the accounts during the period from the 10th day to the last day of each calendar month. Several banks have suggested that interest on savings bank accounts may be calculated either on the minimum balances in the deposit accounts during the period from the first to the last day of each calendar month or on a daily product basis. The matter was referred to the IBA, which was of the view that payment of interest on a daily product basis would be feasible only when computerisation in banks is completed.
High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]
The Reserve Bank on Tuesday allowed banks to open ATMs outside their branches without permission from the central bank. “It is proposed to allow scheduled commercial banks (SCBs) to set up offsite ATMs without prior approval,” the RBI said in its annual monetary policy. The RBI further said a group would be constituted to review […]
The Reserve Bank of India (RBI) has informed banks that some of the modifications allowed to facilitate restructuring of non-performing assets(NPA) in view of the ongoing downturn in the Indian economy will be withdrawn from July 1 2009. “The circulars dated December 8, 2008, January 2, 2009 and February 4, 2009 for restructuring of accounts […]
The Reserve Bank on Tuesday said it would deal with the problem of black money being hidden in tax havens by continuously updating its regulations in line with the G-20 guidelines on strengthening transparency in cross-border movement of capital. “The Reserve Bank would continue to incorporate in its regulations latest international best practices (to deal […]
Reserve Bank of India has allowed three more credit information companies to do business. The banking regulator has also permitted the only existing local credit bureau Cibil (Credit Information Bureau India Ltd) to maintain credit histories of insurance and telecom customers. The three new entities include Equifax Credit Information Services, Experian Credit Information Company, and […]
