Operations of subsidiaries and branches of Indian banks and All India Financial Institutions (AIFIs) in foreign jurisdictions and in International Financial Services Centers (IFSCs) – Compliance with statutory/regulatory norms
Given the heterogeneity in the cooperative sector, a tiered regulatory framework is required to balance the spirit of mutuality and co-operation more prevalent in banks of smaller sizes and those with limited area of operation vis-à-vis the growth ambitions of the large-sized UCBs to spread their area of operation and undertake more complex business activities.
It has been decided to revise the criteria for UCBs to be classified as FSWM. The revised criteria in view of Revised Regulatory Framework for Urban Co-operative Banks (UCBs) released by RBI on July 19, 2022 based on the recommendation of the Expert Committee on Primary (Urban) Co-operative Banks are given in the Annex.
Representation has been received from CRAs requesting for extension of the date of applicability of the standardized industry classification. In view of representation received from CRAs, it has been decided to extend the date of applicability of the standardized industry classification till December 15, 2022.
Reserve Bank hereby notifies Modified Mumbai Interbank Forward Outright Rate (MMIFOR) administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as a ‘significant benchmark’.
CBIC reduces Special Additional Excise Duty (SAED) on Diesel to Rs. 6.50 per litre vide Notification No. 41/2022-Central Excise, Dated: 01.12.2022
Special Additional Excise Duty (SAED) on production of Petroleum Crude reduced to Rs. 4900 per tonne vide Notification No. 40/2022-Central Excise Dated 1st December, 2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, Notification No. 40/2022-Central Excise Dated 1st December, 2022 G.S.R.860(E).–In exercise of the powers conferred by section 5A of the […]
IRDAI clarified that All trades reported on NDS-OM platform shall be treated as compliance with the requirements of Para 4.11.3 of the Master Circular.
CBIC notifies Customs Exchange rate for Import & Export wef 2nd December, 20222 vide Exchange rate vide Notification No. 101/2022 – Customs (N.T.) | Dated: 1st December, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS New Delhi ***** Notification No. 101/2022 – Customs (N.T.) | Dated: 1st […]
CBIC appoints officers mentioned in Column (2) of Table below as Central Excise officers for jurisdiction mentioned in Column (3) of said Table
