Category: RBI
Banks not to grant approval to any branch office, project office, liaison office to foreign Law firms for practicing in India The Hon’ble Supreme Court in 2018 held that advocates enrolled under the Advocates Act, 1961 alone are entitled to practice law in India and that foreign law …
IWG submits report to RBI. Large NBFCs may be converted into banks, promoters’ stake can be increased in bank Reserve Bank of India (RBI) had constituted an Internal Working Group (IWG) to review extant ownership guidelines and corporate structure for Indian private sector banks. The Terms of Reference …
RBI relaxes provisions for Housing Finance Institutions. Net owned fund of 20 crore rupees specified to commence business RESERVE BANK OF INDIA(Department of Regulation) NOTIFICATION Mumbai, the 18th November, 2020 No. DOR.049/CGM(MM)–2020.—In exercise of the power conferred by section 45-NC of the Reserve Bank of India Act, 1934, …
Compounding of Contraventions under FEMA. Delegation of powers to RBI Regional Offices Foreign Exchange Management Act, 1999 (FEMA)- Compounding of Contraventions under FEMA, 1999 In terms of the Master Direction on “Compounding of Contraventions under FEMA, 1999” the powers to compound certain contraventions of have been delegated to …
Co-Lending by Banks and NBFCs to Priority Sector RBI in its Third Bi-Monthly Monetary Policy Statement 2018-19 introduced the Co-origination Model between Banks and Non-Banking Financial Companies – Non-Deposit taking – Systemically Important (NBFC-ND-SIs) for providing competitive credit to priority sector. Based on the feedback received from the …
Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months period to borrowers in specified loan accounts The Government of India has announced the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months …
Revised risk weights for new housing loans sanctioned from 16.10.2020 to 31.03.2022. RBI rationalises Risk Weights for Individual Housing Loans As per the RBI regulations on capital charge for credit risk of individual housing loans by banks, differential risk weights were applicable based on the size of the …
Sovereign Gold Bond Scheme 2020-21. Terms & Procedure for making application Sovereign Gold Bond Scheme 2020-21 What is Sovereign Gold Bond Schemes ? The Sovereign Gold Bond Schemes (SGBs) are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay …
Government constitutes Monetary Policy Committee of the Reserve Bank of India MINISTRY OF FINANCE(Department of Economic Affairs) NOTIFICATION New Delhi, the 5th October, 2020 S.O. 3467(E).—In exercise of the powers conferred by section 45ZB of the Reserve Bank of India Act, 1934(2 of 1934), the Central Government hereby …
RBI allows Kotak Mahindra Bank Managing Director and CEO Uday Kotak to remain on Board of ILFSL as NED up to 02.10.2021 MINISTRY OF FINANCE(Department of Financial Services) NOTIFICATION New Delhi, the 23rd September 2020 S.O. 3238(E).—Whereas, sub-clause (i) of clause (c) of sub-section …
