SEBI specifies 7 New Disclosures by Credit Rating Agencies (CRAs)

SEBI/ HO/ MIRSD/ DOS3/ CIR/ P/ 2019/ 70 (13/06/2019)

I. Computation of Cumulative Default Rates (CDR) A. With a view to aligning the methodology of calculation of default rates with that followed globally and in partial modification of SEBI Circular CIR/MIRSD/CRA/6/2010 dated May 3, 2010, the default rates shall be computed in the following manner:...

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Directions for Central Counterparties- Age limit increased for appointment of Directors

RBI/2018-2019/209 DPSS.CO.OD No.2565/06.08.005/2018-2019 (12/06/2019)

In the Section A - Directions on Governance of domestic CCPs authorised to operate in India by the RBI, the upper age limit for appointment of Managing Director, Director, Nominee Director, Independent Director and Chairperson was stipulated as 65 years....

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RBI waives NEFT & RTGS charges; Instruct banks to pass on benefit to Customers

RBI/2018-2019/208 DPSS (CO) RPPD No.2557/04.03.01/2018-19 (11/06/2019)

The banks are advised to pass on the benefits to their customers for undertaking transactions using the RTGS and NEFT systems with effect from July 1, 2019....

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List of items, samples of which can be tested in revenue laboratories

Circular No. 15/2019-Customs (07/06/2019)

The Revenue Laboratories have now acquired testing facilities for some of the samples listed in the said Annexure following the up-gradation and induction of more sophisticated equipment. These items are listed in Annexure I annexed with this Circular....

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RBI releases Prudential Framework for Resolution of Stressed Assets

Press Release: 2018-2019/2886 & Circular No. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 (07/06/2019)

Accordingly, the Reserve Bank has today placed on its website the prudential framework for resolution of stressed assets by banks in the wake of the judgement of the Hon’ble Supreme Court of India....

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RBI reduces policy repo rate by 25 basis points wef June 06, 2019

RBI/2018-19/200 - REF.No.MPD.BC.387/07.01.279/2018-19, RBI/2018-19/199- DBR.No.Ret.BC.44/12.01.001/2018-19, RBI/2018-2019/198- FMOD.MAOG. No.133/01.18.001/2018-19 and RBI/2018-2019/197-FMOD.MAOG.No.132/01.01.001/2018-19 (06/06/2019)

RBI in its Second Bi-Monthly Monetary Policy, 2019-20 has decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 5.75 per cent from 6.0 per cent with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.50 per cent, and the marginal standing […]...

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MahaRERA: Procedure for transferring or assigning promoter’s rights and liabilities to a third party

Circular No:  24/2019  (04/06/2019)

Whereas, in accordance with Section 15 of the Real Estate (Regulation and Development) Act, 2016, the promoter shall not transfer or assign his majority rights and liabilities in respect of a real estate project to a third party without obtaining prior written consent from two-third allottees, except the promoter, and without the prior wr...

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Simple auto registration on ICEGATE for IEC holders for eSANCHIT

Circular No. 14/2019-Customs (03/06/2019)

ICEGATE has now introduced simplified auto registration for IEC holders based on the email ids already provided by them for registration under GST. Detailed advisory on the same has been placed on the ICEGATE web portal. The simplified procedure does away with the requirement of the digital signature. Circular No. 14/2019-Customs F.No. 45...

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Implementation of PGA eSANCHIT -Paperless Processing under SWIFT

Circular No. 13/2019-Customs (03/06/2019)

Importers/exporters/customs brokers would not be allowed to upload the previously issued LPCOs on eSANCHIT e.f. 01/07/2019. Further PGAs are required to upload the LPCOs issued by them during the last 15 days from the above cut-off date. Any LPCOs issued on a prior date may also be uploaded by the PGAs on eSANCHIT, in order […]...

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Opening /Transfer of place of business- Revised Guidelines for RRBs

RBI/2018-19/194 DBR.RRB.BL.BC.No.40/31.01.002/2018-19 (31/05/2019)

‘Banking Outlet’ for a Regional Rural Bank is a fixed point service delivery unit, manned by either bank’s staff or its Business Correspondent where services of acceptance of deposits, encashment of cheques/ cash withdrawal or lending of money are provided for a minimum of four hours per day for at least five days a week....

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