RBI
RBI prohibits banks from dividend declaration for FY ended 31.03.2020
RBI has prohibited banks from making any further dividend declaration/payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions.
In India, Banks have been granted general permission to declare dividends, subject to compliance with the RBI guidelines. As per Notification issued by the RBI, the said restriction, has been necessitated by heightened uncertainty caused by COVID-19.
The step was taken to ensure that that banks could conserve capital to retain their capacity to support the economy and absorb losses.
It is stated that the restriction shall be reassessed by the Reserve Bank based on the financial results of banks for the quarter ending September 30, 2020.
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…