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RBI allows more time for Submission of returns | Section 31 | Banking Regulation Act, 1949

June 4, 2021 786 Views 0 comment Print

Reserve Bank hereby extends the said period of three months for the furnishing of the returns under Section 31 of the Act for the financial year ended on March 31, 2021, by a further period of three months. Accordingly, all UCBs, State Co-operative Banks and Central Co-operative Banks shall ensure submission of the aforesaid returns to Reserve Bank on or before September 30, 2021. The State Co-operative Banks and Central Co-operative Banks shall also ensure submission of the aforesaid returns to NABARD on or before September 30, 2021.

Payment of margins for transactions in Government Securities by FPIs

June 4, 2021 645 Views 0 comment Print

RBI allow banks in India having an Authorised Dealer Category-1 licence under FEMA, 1999 to lend to Foreign Portfolio Investors (FPIs) in accordance with their credit risk management frameworks for the purpose of placing margins with CCIL in respect of settlement of transactions involving Government Securities (including Treasury Bills and State Development Loans) by the FPIs.

RBI enhances exposure limit for Resolution of Covid-19 related stress of MSMEs

June 4, 2021 576 Views 0 comment Print

Eligibility conditions for MSME accounts to be considered for restructuring under the framework, which inter alia include sub-clause (iii) which states that the aggregate exposure, including non-fund based facilities, of all lending institutions to the MSME borrower should not exceed > 25 crore as on March 31, 2021.

RBI enhances exposure limit for Resolution of Covid-19 related stress of Individuals & Small Businesses

June 4, 2021 432 Views 0 comment Print

Small businesses, including those engaged in retail and wholesale trade, other than those classified as MSME as on March 31, 2021, and to whom the lending institutions have aggregate exposure of not more than ₹50 crore as on March 31, 2021.

SEBI amends fields for Centralized Database for Corporate Bonds/ Debentures

June 4, 2021 1836 Views 0 comment Print

SEBI vide circular no. CIR/IMD/DF/17/2013 dated October 22, 2013, on ‘Centralized Database for Corporate Bonds/ Debentures’ mandated Depositories to jointly create, host, and maintain a Centralized Database of corporate bonds held in demat form.

SEBI Enhances Overseas Investment limits for Mutual Funds

June 3, 2021 570 Views 0 comment Print

2.1 Mutual Funds can make overseas investments subject to a maximum of US $ 1 billion per Mutual Fund, within the overall industry limit of US $ 7 billion. 2.2 Mutual Funds can make investments in overseas Exchange Traded Fund (ETF(s)) subject to a maximum of US $ 300 million per Mutual Fund, within the overall industry limit of US $ 1 billion.

Implementation timelines for processing of ASBA applications through UPI

June 2, 2021 501 Views 0 comment Print

SEBI had put in place measures to have a uniform policy to further streamline the processing of ASBA applications through UPI process among intermediaries/SCSBs and also provided a mechanism of compensation to investors.

IFSCA notifies format of Application Form for AIF

June 2, 2021 2460 Views 0 comment Print

In view of further streaming the process of on boarding of AIFs in IFSC an application format has been designed as annexed. All the AIFs seeking registration shall be required to submit the application in the above stated format.

Off-market transfer of securities by FPI

June 1, 2021 915 Views 0 comment Print

The Finance Act, 2021 provides tax incentives for relocating foreign funds to International Financial Services Centre (IFSC) in order to make the IFSC in GIFT City a global financial hub.

Format of compliance report on Corporate Governance by Listed Entities

May 31, 2021 26340 Views 0 comment Print

Securities Exchange Board of India (‘SEBI’) vide its Circular dated May 31, 2021, has notified amendment in format of Compliance report on Corporate Governance to be submitted by listed entities. SEBI has added ‘Annex IV’ to be submitted on a half yearly basis (w.e.f. first half year of the FY 2021-22) which shall cover details of loan/ […]

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