Banks should preferably issue secured guarantees. A secured guarantee means a guarantee made on the security of assets (including cash margin), the market value of which will not at any time be less than the amount of the contingent liability on the guarantee, or a guarantee fully covered by counter guarantee/s of the Central Government, State Governments, public sector financial institutions and / or insurance companies.
Keeping in view the various regulatory/statutory guidelines and the bank’s own internal requirements, UCBs should lay down, with the approval of their Board of Directors, the broad Investment Policy and objectives to be achieved while undertaking investment transactions.
Master Circular – Asset Reconstruction Companies shall apply to ARCs registered with the Reserve Bank of India under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. However, in respect of the trust/s mentioned in paragraph 7 herein, the provisions of paragraphs 3, 4, 5,8, 9(i), 9(iii) 11,12,13 and 14 shall not be applicable.
Recognizing the importance of SHG Bank linkage, banks have been advised to meet the entire credit requirements of SHG members, as envisaged in Paragraph 93 of the Union Budget announcement for the year 2008-09
Import of Urea on Government account is allowed through Indian Potash Limited (IPL) subject to Para 2.20 of Foreign Trade Policy, 2015-2020, till 31.03.2023. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Notification No. 65/2015-2020-DGFT New Delhi, Dated: 1 April 2022 Subject: Amendment in import […]
The existing Foreign Trade Policy 2015-2020 which is valid upto 31.03.2022 is extended upto 30th September, 2022 by DGFT VIDE Notification No. 64/2015-2020 Dated: 31st March, 2022. While we were all eagerly waiting for the release of India’s new Foreign Trade Policy, a Public notice No- 53/2015-20 and a Notification 64/2015-20 got released today, which […]
Validity of the existing Hand Book of Procedures (HBP), 2015-20 is extended upto 30th September, 2022 by DGFT vide Public Notice No. 53/2015-2020 Dated: 31st March, 2022. Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade New Delhi Public Notice No. 53/2015-2020 Dated: 31st March, 2022 F. No. […]
SEBI extends the date of applicability of Circulars including the clauses relating to Two Factor Authentication (‘2FA’) for redemption and source account verification to July 01, 2022.
RBI clarified that investments in special securities received from the Government of India towards bank’s recapitalisation requirement from FY 2021-22 onwards shall be recognised at fair value / market value on initial recognition in HTM.
Bilateral Netting of Qualified Financial Contracts Act, 2020, has been notified by Notification No. S.O. 3463(E) dated October 1, 2020. The Act provides a legal framework for enforceability of bilateral netting of qualified financial contracts (QFC).
