Insolvency and Bankruptcy Code, 2016 will have positive impact on GDP in the long term, though there may be some short terms pains, including growth costs, he said. Dr. Debroy emphasised that the success of the Code to a large extent depends upon the functioning of and processes adopted by the Adjudicating Authorities. He highlighted that competence, conduct and integrity of the Insolvency Professionals will also be an important determinant in harnessing full benefits of the Code.
SEBI gives utmost importance to all complaints either received anonymous or otherwise and takes necessary action after verifying the contents. However, SEBI may not be able to handle complaints which are anonymous and not specific or substantiated or verifiable.
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 5, 2019) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.15 per cent.
Date : Dec 05, 2019 RBI releases “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector” The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”. Major changes from the earlier Guidelines on Small Finance Banks dated November 27, 2014, […]
The IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 vide The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2019 on 27.11.2019. The regulations shall come into force from the […]
Shri P.C. Mody, Chairman, Central Board of Direct Taxes (CBDT), inaugurated the Web Portal for Exchange of Information on Income Tax Website here today.
There are occasions when a corporate debtor (CD) takes a loan guaranteed by another corporate person (corporate guarantor to the CD) or an individual (personal guarantor to the CD). The lender may pursue a remedy against the guarantor or the CD, being principal borrower, when there is a default in repayment of the loan.
The salient features of the proposed SEBI (Portfolio Managers) Regulations, 2019 are: 1. To enhance the eligibility criteria and to define the role of Principal Officer clearly. The enhanced eligibility criteria to be applicable to any employee with decision making authority relating to management of the clients’ portfolios.
Reserve Bank superseded the Board of Directors of DHFL owing to governance concerns and defaults by DHFL in meeting various payment obligations. Shri R. Subramaniakumar, ex-MD and CEO of Indian Overseas Bank has been appointed as the Administrator under Section 45-IE (2) of the Act.
Technology is a key game changer in financial services as it can not only provide fast and better services to the consumer, it can also be a catalyst in improving the ease of doing business, said Shri Ajay Tyagi, Chairman, SEBI while participating in a panel discussion on Technology in Financial Services at Singapore on November 16, 2019.
