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.
RBI decided to allow PSL classification to the fresh credit extended by SFBs to registered NBFC-MFIs and other MFIs (Societies, Trusts etc.) which are members of RBI recognised ‘Self-Regulatory Organisation’ of the sector and which have a ‘gross loan portfolio’ of upto ₹500 crore as on 31 March 2021, for the purpose of on-lending to individuals. Bank credit as above will be permitted up to 10% of the bank’s total priority sector portfolio as on 31 March, 2021.
Representations have been received from debenture trustees with regard to relaxation intimelines for complying with certain regulatory provisions of SEBI Circular No. SEBI/ HO/ MIRSD/ CRADT/ CIR/ P/ 2020/230 dated November 12,2020
Gap between two consecutive meetings of the Board may extend to 180 days during the Quarter – April to June 2021 and Quarter – July to September, 2021, Instead of 120 days as required in the Companies Act 2013. General Circular No. 08/2021 Dated 03-05-2021. The Ministry of Corporate Affairs vide its circular dated 03rd […]
MCA Relaxates of time for filing forms related to creation or modification of charges under the Companies Act, 2013 vide General Circular No. 07/2021 Dated: 03/05/2021. General Circular No. 07/2021 File No.02/01/2021-CL-V Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi-110001. Dated: 03/05/2021 To All […]
MCA relaxes levy of additional fees in filing of certain Forms under the Companies Act, 2013 and LLP Act 2008 vide General Circular No. 06/2021 Dated: 03/05/2021. In view of the difficulties being faced by stakeholders in filing various forms under the Companies Act, 2013 and LLP Act, 2008, the Ministry of Corporate Affairs vide […]
International Financial Services Centres Authority CIRCULAR F. No 172/ IFSCA/Finance Company/Unit Regulations/2021-22/5 May 03, 2021 To, All Finance Company’s / Finance Units in the International Financial Services Centre (IFSC) Subject: Information on various guidelines/circulars/directions applicable for undertaking non-core activities by an FC/FU The Finance Company/Finance Unit(FC/FU) may draw reference to regulation 5 (1) (iii) on […]
This circular shall apply to all FC/FU as the case may be, registered with the Authority under section 3 of IFSCA (Finance Company) Regulations, 2021 and who intends to undertake the above mentioned activities. Further, the circular shall remain applicable as amended by the Authority from time to time.
International Financial Services Centres Authority CIRCULAR F. No 172/ IFSCA/Finance Company/Unit Regulations/2021-22/3 May 03, 2021 To, All Finance Company’s / Finance Units in the International Financial Services Centre (IFSC) Subject: Prudential Regulations and activity specific guidelines Finance Company/Finance Unit (FC/FU) may draw reference to regulation 4 on applicable prudential regulations and regulation 5 on permissible activities, of the International Financial Services Centres Authority (Finance Company) Regulations, 2021 (herein referred to as ‘Regulations’) dated March 25, […]
For the open ended and interval schemes, the SID shall be updated within next six months from the end of the 1st half or 2nd half of the financial year in which schemes were launched, based on the relevant data and information as at the end of previous month. Subsequently, SID shall be updated within one month from the end of the half-year, based on the relevant data and information as at the end of September and March respectively
