CBIC has decided to restore the facility of acceptance of an undertaking in lieu of bond by Customs formations from the date of issue of this Circular till 30.06.2021. Importers/Exporters availing this facility shall ensure that the undertaking furnished in lieu of bond is duly replaced with a proper bond by 15.07.2021.
Ministry of Commerce and Industries notifies relaxations in Pending compliances, expiry of validity of LoAs, approvals or permissions till 30.06.2021. In view of the prevailing situation of the COVID-19 pandemic and partial lock-down imposed by the State Governments, most government offices are either closed or are functioning with skeletal staff. In order to facilitate the […]
We advise that the Lakshmi Vilas Bank Ltd has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from November 27, 2020 vide Notification DOR.PSBD.No.1849/16.01.067/2020-21 dated December 17, 2020, which is published in the Gazette of India (Part III – Section 4) dated January 16 – January 22, 2021.
Time limit for ensuring compliance with the directions regarding Public Disclosures on websites by insurers, for the period ended on 31.03.2021, is also extended by a period of 30 days. The insurers may avail the additional time and ensure compliance with the requirements of all regulatory filing and uploading of the public disclosures.
CSR funds for ‘creating health infrastructure for COVID care’, ‘establishment of medical oxygen generation and storage plants’, ‘manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19’ or similar such activities are eligible CSR – General Circular No. 09/2021 Date: 05th May 2021. Full text of the Circualr is as […]
In view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in the recent weeks, RBI decided to extend the facility for restructuring existing loans to MSMEs without a downgrade in the asset classification subject to the some conditions. RESERVE BANK OF INDIA www.rbi.org.in RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 2021 All Commercial […]
Part A of this circular pertains to requirements specific to resolution of advances to individuals and small businesses and Part B pertains to working capital support for: (i) individuals who have availed of loans for business purposes, and (ii) small businesses, where resolution plans were implemented previously. Part C lists the disclosure requirements for the lending institutions with respect to the resolution plans implemented under this window.
Scheduled Commercial Banks allowed to deduct amount equivalent to credit disbursed (up to ₹ 25 lakh per borrower) to new MSME borrowers from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Reserve Ratio (CRR) up to the fortnight ending December 31, 2021. Reserve Bank of India RBI/2021-22/30 DoR.RET.REC.09/12.01.001/2021-22 May 05, 2021 […]
Due to Covid RBI Regulated Entities are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021, for this reason alone, unless warranted under instructions of any regulator/ enforcement agency/court of […]
In order to mitigate the adverse impact of COVID 19 related stress on banks, as a measure to enable capital conservation, it has been decided to allow banks to utilise 100 per cent of floating provisions/ countercyclical provisioning buffer held by them as on December 31, 2020 for making specific provisions for non-performing assets with prior approval of their Boards. Such utilisation is permitted with immediate effect and upto March 31, 2022.
