Category Archives: other Acts

New Rs 20 banknotes to be issued by RBI

Date : Dec 04, 2016 Issue of Rs 20 banknotes with the inset letter ‘L’, with numerals in ascending size in number panels and without intaglio printing The Reserve Bank of India will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi Series-2005, with inset letter ‘L’ in both the number panels, bearing signature… Read More »

New Rs 50 bank Notes to be issued by RBI

Issuance of Rs 50 banknotes without inset letter, with numerals in ascending size in number panels, and without intaglio printing The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr. Urjit R Patel, Governor, Reserve Bank… Read More »

Online Duplicate mark sheet / Pass certificate for CA Students

Online Duplicate mark sheet /Pass certificate for CA Students An on-line facility for submission of requests for issue of duplicate mark sheets/pass certificates has been put in place at http://icaiexam.icai.org. Those who are desirous of applying for issue of duplicate mark sheets/pass certificates, can now apply for the same, on-line, at the above site and… Read More »

RBI extend time for deployment of Aadhaar-enabled devices till June 30, 2017 for processing payment transactions

RBI/2016-17/170 DPSS.CO.PD No.1421/02.14.003/2016-17 December 02, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/ Authorised Card Payment Networks / White Label ATM Operators / Payments Banks / Small Finance Banks Dear Madam / Sir, Aadhaar-based… Read More »

External Commercial Borrowings (ECB) -FAQ’s

External Commercial Borrowings Source : Reserve Bank of India These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The… Read More »

SEBI Infrastructure Investment Trusts Amendment Regulations 2016

GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/021.-In exercise of the powers conferred by section 30 read with sections… Read More »

SEBI Real Estate Investment Trusts Amendment Regulations 2016.

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th November, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (REAL ESTATE INVESTMENT TRUSTS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/022 .─ In exercise of the powers conferred by section… Read More »

Infrastructure Lending -Definition – Banks to follow Govt Gazette Notifications -RBI

RBI/2016-17/168 DBR.BP.BC.No.42/08.12.014/2016-17 December 1, 2016 All Scheduled Commercial Banks (Excluding RRBs) All India Term-Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Madam/Dear Sir, Financing of Infrastructure – ‘Definition of ‘ Infrastructure Lending ‘ Please refer to our circular DBOD.BP.BC.No.66/08.12.014/2013-14 November 25, 2013 on ‘Definition of Infrastructure Lending’ harmonising the RBI definition of Infrastructure… Read More »

Large Exposure Framework-RBI final guidelines

RBI/2016-17/167 DBR.No.BP.BC.43/21.01.003/2016-17 December 01, 2016 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Large Exposure Framework Please refer to the paragraph 3 of the Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016 (extract enclosed). It was indicated therein that RBI will issue final guidelines on Large Exposure Framework… Read More »

Banks to abide by only instructions which are either uploaded on RBI website , Not to follow Social media

Information from Unauthenticated Sources – Advisory to banks RBI/2016-17/166 DCM (Plg) No.1500/10.27.00/2016-17 December 01, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir, Information from Unauthenticated Sources – Advisory to banks In the wake… Read More »

National Anthem Mandatory for all cinema theatres to play before movie

S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS Writ Petition(s)(Civil) No(s). 855/2016 SHYAM NARAYAN CHOUKSEY Petitioner(s) VERSUS UNION OF INDIA Respondent(s) Dated 30.11.2016 Summary of Judgment “Time has come for people to realise that the national anthem is a symbol of… Read More »

Chest Balance Limit / Cash Holding Limit -SBNs deposited not to be considered -RBI

RBI/2016-17/164 DCM (Plg) No. 1459/10.27.00/2016-17 November 29, 2016 The Chairman / Managing Director/ Chief Executive Officer, (All banks maintaining currency chests) Dear Sir, Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit Please refer to our circular. DCM (CC) No. 2598/03.02.05/2009-10 dated October 27, 2009, which inter alia stated that… Read More »

Insurers can’t accept Old Notes of Rs 500/1,000 note towards premium

Ref:IRDA/ACTL/CIR/MISC/238/11/2016 Date:29-11-2016 Clarification on “Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization To All the CEOs of the Life Insurance Companies   Re: Clarification on “Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization” Reference is… Read More »

Extended grace period for payment of life insurance policies renewal premium

Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization Ref:IRDA/ACTL/CIR/ULIP/236/11/2016 Date:25-11-2016 To All the CEOs of the Life Insurance Companies   Re: Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization We are in receipt of a… Read More »

Continuous disclosures & compliances by InvITs -SEBI specified format

Securities and Exchange Board of India CIR/IMD/DF/127/2016 November 29, 2016 To All Infrastructure Investment Trusts (InvITs) All Parties to InvITs All Stock Exchanges Dear Sir / Madam, Sub: Continuous disclosures and compliances by InvITs 1. Regulation 23 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014 prescribe disclosures to be made by an InvIT to the… Read More »

Guidelines for functioning of Stock Exchanges & Clearing Corporations in IFSC ( International Financial Services Centre )

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2016/125 November 28, 2016 All Stock Exchanges and Clearing Corporations in International Financial Services Centre Dear Sir/Madam Guidelines for functioning of Stock Exchanges and Clearing Corporations in International Financial Services Centre (IFSC) 1. Pursuant to announcement in the Union Budget 2015-16 on Gujarat International Finance Tec-City (GIFT), SEBI (International Financial Services Centre) Guidelines, 2015… Read More »

banks operating currency chests allowed to operate Chest Guarantee Scheme for Specified Bank Notes

Chest Guarantee Scheme for Specified Bank Notes (SBNs) – CGSS RBI/2016-17/162 DCM (Plg) No.1438/10.27.00/2016-17 November 28, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir, Chest Guarantee Scheme for Specified Bank Notes (SBNs) –… Read More »

Withdrawal of cash from bank deposit accounts – Relaxation by RBI

RBI/2016-17/163 DCM.No.1437/10.27.00/2016-17 November 28, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of cash from bank deposit accounts – Relaxation It has been reported that certain depositors… Read More »

Chest Guarantee Scheme for SBN Deposits (CGSS) at District Level -RBI Guidelines

RBI/2016-17/160 DCM (Plg) No. 1430/10.27.00/2016-17 November 27, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir Chest Guarantee Scheme for Specified Bank Notes (SBNs) – CGSS Please refer to our circular DCM (Plg) No.1383/10.27.00/2016-17… Read More »

Section 42(1A) Requirement for maintaining additional CRR by Schedule Banks

Reserve Bank of India Act, 1934 – Section 42(1A) Requirement for maintaining additional CRR RBI/2016-17/159 DBR.No.Ret.BC.41/12.01.001/2016-17 November 26, 2016 The Chairperson / CEOs of all Scheduled Commercial Banks/ Regional Rural Banks / All Scheduled Primary (Urban) Co-operative Banks / All Scheduled State Co-operative Banks Dear Sir, Reserve Bank of India Act, 1934 – Section 42(1A)… Read More »

Demonetization – RBI updated FAQ’s 25 Nov 2016

Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 25, 2016) (Updated as on November 25, 2016) (Updated as on November 23, 2016) (Updated as on November 22, 2016) (Updated as on November 21, 2016) (Updated as on November 18, 2016)… Read More »

Use of Old bank Note Rs 500 – Specified Transactions till 15 Dec 2016

Use of Old bank Note Rs 500 – Specified Transactions till 15 dec 2016 Till the December 15, 2016, specified banknotes of only 500 denomination can be used as under:— (a) for making payments in Government hospitals for medical treatment and pharmacies in Government hospitals for buying medicines with doctor’s prescription; (b) at railway ticketing… Read More »

Govt Oil Bonds eligible collateral under LAF/MSF & Removal of Margin Requirement for Reverse Repos

Liquidity Adjustment Facility – Oil Marketing Companies’ Government of India Special Bonds (Oil Bonds) as eligible collateral under LAF/MSF and Removal of Margin Requirement for Reverse Repos RBI/2016-2017/156 FMOD.MAOG No. 117/01.01.001/2016-17 November 25, 2016 All Scheduled Commercial Banks (excluding RRBs) Scheduled Urban Co-operative Banks and Standalone Primary Dealers Dear Sir/Madam, Liquidity Adjustment Facility – Oil… Read More »

Exchange of Old bank Notes to foreign tourists visiting India

Exchange facility to foreign citizens RBI/2016-17/157 A.P. (DIR Series) Circular No.20 November 25, 2016 To All Authorised Persons Madam / Sir, Exchange facility to foreign citizens Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 16 dated November 9, 2016 giving certain exemptions to foreign tourists visiting India. In supersession of… Read More »

Weekly limit for Withdrawal of cash Rs 24000 continue : RBI

Withdrawal of cash – Weekly limit RBI/2016-17/158 DCM (Plg) No.1424/10.27.00/2016-16 November 25, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of cash – Weekly limit Please refer to… Read More »

CPT Dec 2016 Admit cards

Announcement Admit cards – CPT December 2016 24th November, 2016 Admit cards in respect of candidates admitted to the CPT December 2016 examination, with their photographs and signatures on them, are hosted on icaiexam.icai.org Candidates may print their admit cards from the said website. For downloading/printing of the admit cards, candidates will have to login… Read More »

Discontinuation of over the Counters Exchange of Rs 500 and Rs 1000 Bank Note : RBI

Discontinuation of over the Counters Exchange of SBN RBI/2016-17/155 DCM (Plg) No.1391/10.27.00/2016-17 November 24, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir, Discontinuation of over the Counters Exchange of SBN Please refer to our… Read More »

Appointment of director in banks – RBI added new subjects

Special knowledge or practical experience useful to banking companies RBI/2016-17/152 DBR.Appt.BC.No.39/29.39.001/2016-17 November 24, 2016 All Commercial Banks excluding RRBs Dear Sir / Madam, Special knowledge or practical experience useful to banking companies In the backdrop of innovations in banking and technology, it is felt that the domain knowledge and experience enumerated under various statutory provisions… Read More »

Category: RBI

RBI revived Guarantee Scheme to enable deposit of Specified Bank Notes

Specified Bank Notes (SBNs) – Deposit under Guarantee Scheme to decongest the storage facilities at banks RBI/2016-17/153 DCM (Plg) No.1383/10.27.00/2016-17 November 24, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Specified… Read More »

Meet Cash requirements of pensioners & Armed Forces Personnel- RBI To banks

Withdrawal of Specified Banknotes : Cash requirements of pensioners and Armed Forces Personnel RBI/2016-17/154 DCM (Plg) No.1384/10.27.00/2016-17 November 24, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks/ District Central Co-operative Banks Dear Sir,… Read More »

SEBI amendment regarding Angel Funds

PR No. 161/2016 SEBI Board Meeting The SEBI Board met in Mumbai today and took the following important decisions: I. Amendment to SEBI (Alternative Investment Funds) Regulations, 2012 regarding Angel Funds In order to further develop the alternative investment industry and the startup ecosystem in India, SEBI, in March 2015, constituted a Committee of experts… Read More »

Airtel Payments Bank commences operations

Airtel Payments Bank Limited commences operations Date : Nov 23, 2016 Airtel Payments Bank Limited has commenced its operations as a payments bank with effect from November 23, 2016. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of… Read More »

Deposit of Old Bank Notes ( Rs 500/ 1000) in Small Savings Schemes not allowed : RBI

Deposit of specified banknotes (SBN) in Small Savings Schemes RBI/2016-17/151 DCM (Plg) No.1351/10.27.00/2016-17 November 23, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Deposit of specified banknotes (SBN) in Small Savings… Read More »

RBI incentivise Electronic Payments – increased limit for Pre-Paid Payment Instruments

Special measures to incentivise Electronic Payments – (i) Enhancement in issuance limits for Pre-Paid Payment Instruments (PPIs) in India (ii) Special measures for merchants RBI/2016-17/150 DPSS.CO.PD.No.1288/02.14.006/2016-17 November 22, 2016 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers Dear Madam / Sir, Special measures to incentivise Electronic… Read More »

Cash Withdrawal for Marriage – RBI Modified Condition

RBI/2016-17/149 DCM (Plg) No.1346/10.27.00/2016-17 November 22, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks. Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Specified Bank Notes (SBNs) – Cash withdrawal… Read More »

Making cash available for Rabi Crop Season – RBI Advisory to banks

Making cash available for Rabi Crop Season – Advisory to banks RBI/2016-17/148 DCM (Plg) No.1345/10.27.00/2016-17 November 22, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Making cash available for Rabi Crop… Read More »

Category: RBI

RBI asked Banks to take stern action against branch officials indulging in fraudulent practices in exchanging Old Bank Notes

Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Specified Bank Notes (SBNs) – Fraudulent Practices RBI/2016-17/147 DCM (Plg) No.1341/10.27.00/2016-17 November 22, 2016 The Chairman / Managing Director/Chief Executive Officer, Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks… Read More »

Category: RBI