Category Archives: other Acts

RBI Master Direction 2018 for Relief Measures by Banks in Areas affected by Natural Calamities -RRBs

By | October 18, 2018

RBI/FIDD/2018-19/65 Master Direction FIDD.CO.FSD.BC No.10/05.10.001/2018-19 October 17, 2018 The Chairman All Regional Rural Banks Madam / Sir, Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – RRBs The Master Direction on relief measures by banks in areas affected by Natural Calamities was first issued to Scheduled… Read More »

Category: RBI

RBI Master Direction 2018 for Relief Measures by Banks Natural Calamities -SCBs

By | October 18, 2018

RBI/FIDD/2018-19/64 Master Direction FIDD.CO.FSD.BC No.9/05.10.001/2018-19 October 17, 2018 The Chairman/Managing Director/Chief Executive Officer All scheduled commercial banks (including Small Finance Banks and excluding Regional Rural Banks) Madam / Sir, Master Direction – Reserve Bank of India (Relief Measures by Banks in Areas affected by Natural Calamities) Directions 2018 – SCBs Please refer to our ‘Master… Read More »

Prepaid Payment Instruments (PPIs) – RBI Guidelines for Interoperability

By | October 17, 2018

RBI/2018-19/61 DPSS.CO.PD.No.808/02.14.006/2018-19 October 16, 2018 All Prepaid Payment Instrument Issuers, System Providers and System Participants Madam / Dear Sir, Prepaid Payment Instruments (PPIs) – Guidelines for Interoperability A reference is invited to the Master Direction DPSS.CO.PD.No.1164/02.14.006/2017-18 dated October 11, 2017 (updated as on December 29, 2017) on Issuance and Operation of PPIs (M.D.). As per the road-map… Read More »

Category: RBI

Sovereign Gold Bond 2018-19 Series-II-Issue Price

By | October 12, 2018

Sovereign Gold Bond 2018-19 Series-II-Issue Price Date : Oct 12, 2018 In terms of GoI notification F.No.4(22)-W&M/2018 and RBI circular IDMD.CDD.No.821/14.04.050/2018-19 dated October 08, 2018, the Sovereign Gold Bond Scheme 2018-19 – Series II will be opened for subscription for the period from October 15, 2018 to October 19, 2018. The nominal value of the bond based on the… Read More »

Category: RBI

Sovereign Gold Bond Scheme 2018-19 : Operational Guidelines by RBI issued

By | October 8, 2018

RBI/2018-19/58 IDMD.CDD.No.822/14.04.050/2018-19 October 08, 2018 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2018-19, Operational Guidelines This has reference to the GoI notification F.No.4(22)-W&M/2018 and RBI circular IDMD.CDD.No. /14.04.050/2018-19… Read More »

Category: RBI

Sovereign Gold Bond Scheme 2018-19 : RBI issued terms and conditions

By | October 8, 2018

RBI/2018-19/57 IDMD.CDD.No.821/14.04.050/2018-19 October 08, 2018 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd. (SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme 2018-19 Government of India has vide its Notification F.No. 4(22)-W&M/2018 dated October 08,… Read More »

Category: RBI

Electronic Trading Platforms (Reserve Bank) Directions 2018

By | October 5, 2018

The Electronic Trading Platforms (Reserve Bank) Directions, 2018 RBI/2018-2019/55 FMRD.FMID.07/14.03.027/2018-19 October 05, 2018 To All operators of Electronic Trading Platforms Dear Sir/Madam The Electronic Trading Platforms (Reserve Bank) Directions, 2018 Please refer to Paragraph 9 of the Statement on Developmental and Regulatory Policies, Reserve Bank of India issued as part of the Fourth Bi-monthly Monetary Policy Statement… Read More »

Category: RBI

Liberalisation of External Commercial Borrowings (ECB) Policy by RBI

By | October 3, 2018

RBI/2018-2019/54 A.P. (DIR Series) Circular No.10 October 3, 2018 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Policy – Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.4.5, 2.4.6 and 2.5 of Master Direction No.5 dated January 1, 2016 on “External Commercial Borrowings, Trade Credit, Borrowing and… Read More »

Category: RBI

Competition Law Review Committee formed to review the Competition Act

By | October 1, 2018

Ministry of Corporate Affairs Government constitutes Competition Law Review Committee to review the Competition Act In pursuance of its objective of ensuring that Legislation is in sync with the needs of strong economic fundamentals, the Government has constituted a Competition Law Review Committee to review the Competition Act. The Competition Act was passed in the… Read More »

CA JOBS Portal by ICAI : Exclusive Job Portal for Chartered Accountants Launched

By | September 28, 2018

Exclusive Job Portal for Chartered Accountants Launched A unique and exclusive Job Portal for Chartered Accountants https://cajobs.icai.org has launched where no. of companies and vacancies increasing every day. Members can find a best job on this portal that matches their interest. Exclusive Job Portal for Chartered Accountants Launched : Click here https://cajobs.icai.org CA Jobs Portal Explained… Read More »

Voluntary transition of Urban Co-operative Bank into Small Finance Bank : RBI Scheme

By | September 27, 2018

Voluntary Transition of Primary (Urban) Co-operative Banks (UCBs) into Small Finance Banks (SFBs) RBI/2018-19/52 DCBR.CO.LS.PCB. Cir.No.5/07.01.000/2018-19 September 27, 2018 Chief Executive Officers of all Primary (Urban) Co-operative Banks Dear Sir / Madam, Voluntary Transition of Primary (Urban) Co-operative Banks (UCBs) into Small Finance Banks (SFBs) Please refer to Paragraph 4 of the Statement on Developmental… Read More »

Category: RBI

Banks permitted to reckon Government securities for Liquidity Coverage Ratio

By | September 27, 2018

Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards RBI/2018-19/51 DBR.BP.BC.No.4/21.04.098/2018-19 September 27, 2018 All Scheduled Commercial Banks (Excluding RRBs) & Small Finance Banks (SFBs) Dear Sir, Basel III Framework on Liquidity Standards – Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure… Read More »

RBI Award Scheme for Writings in Hindi in Banking Field

By | September 26, 2018

Award Scheme For Outstanding Writings in the Field of Banking Hindi With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an ‘Award scheme for outstanding writings in the field of banking Hindi Click here’. Under this scheme, working/retired Professors (including Assistant and Associates, etc.) of Indian… Read More »

Category: RBI

Co-origination of loans by Banks and NBFCs for lending to priority sector

By | September 21, 2018

RBI/2018-19/49 FIDD.CO.Plan.BC.08/04.09.01/2018-19 September 21, 2018 The Chairman / Managing Director/ Chief Executive Officer All Scheduled Commercial Banks (excluding RRBs & SFBs) and All NBFC-ND-SIs Dear Sir/ Madam, Co-origination of loans by Banks and NBFCs for lending to priority sector Please refer to Para 3 of the Statement on Developmental and Regulatory Policies of the Third Bi-Monthly Monetary Policy… Read More »

External Commercial Borrowings (ECB) Policy – Liberalisation by RBI

By | September 19, 2018

RBI/2018-19/48 A.P. (DIR Series) Circular No.9 September 19, 2018 To All Category-I Authorised Dealer Banks Madam / Sir External Commercial Borrowings (ECB) Policy – Liberalisation Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to paragraphs 2.4.1 and 3.3.3 of Master Direction No.5 dated January 1, 2016 on “External Commercial Borrowings, Trade Credit, Borrowing and Lending… Read More »

Category: RBI

SEBI (Buy Back of Securities) Regulations 2018

By | September 17, 2018

SEBI has notified Securities Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The norms prescribes maximum limit of buy-back as 25% or less of the aggregate paid up capital and free reserves of the Company. Under new norms, a company can’t buy-back its securities so as to delist its shares from stock exchange. Norms… Read More »

ICAI invites suggestions on “Part A- FORM GSTR-9C – Reconciliation Statement, Part B-Certificate”

By | September 16, 2018

Dear Member, Greeting from Indirect Taxes Committee of ICAI! The Government vide Notification No. 49/2018 – Central Tax dated 13th Sept, 2018 has notified “Part A- FORM GSTR-9C – Reconciliation Statement, Part B-Certificate” to be certified by the Chartered Accountants, which can be downloaded from http://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-49-central-tax-english-new.pdf;jsessionid=4CEF3120901571CC607B4BA25FD1A7CA Considering that most of you are involved in actual implementation of GST… Read More »

RBI (Note Refund) Rules 2009 Amended for Exchange of mutilated notes in Mahatma Gandhi (New) series

By | September 8, 2018

Amendments to Reserve Bank of India (Note Refund) Rules, 2009 RBI/2018-19/46 DCM (NE) No.657/08.07.18/2018-19 September 7, 2018 The Chairman and Managing Director / The Managing Director/ The Chief Executive Officer All Banks Madam / Dear Sir, Amendments to Reserve Bank of India (Note Refund) Rules, 2009 Please refer to the Reserve Bank of India (Note Refund)… Read More »

Appendices & Aayat Niryaat Forms Amendment due to GST implementation

By | September 6, 2018

Amendments have been made in Apendices & Aayat Niryaat Forms (ANFs) pertaining to Chapter 7 of Handbook of Procedures 2015­2020 in light of implementation of GST and updation in FTP/ BP consequent upon Mid-Term Review on 5.12.2017 vide Public Notice No. 37/2015.2020 dated 4thSeptember, 2018. GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF… Read More »

Procedure for export of SCOMET items for repair/replacement purposes

By | September 6, 2018

Paragraph 2.79 C has been included in the Handbook of Procedures of FTP 2015- 20 to lay down the procedure for export of SCOMET items for repair/replacement purposes vide Public Notice No. 33/2015-20, Dated 4 September, 2018. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan… Read More »

Procedure for export of SCOMET items for display/exhibition/tenders/RFP/ RFQ/NIT purposes.

By | September 6, 2018

Paragraph 2.79 D has been included in the Handbook of Procedures of FTP 2015- 20 to lay down the procedure for export of SCOMET items for display/exhibition/tenders/RFP/ RFQ/NIT purposes vide Public Notice No. 34/2015-20 dated 4th September, 2018. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan Public Notice No.… Read More »

Amendments in Appendices & Aayat Niryaat Forms of Chapter 6 of FTP/HBP 2015-20

By | September 6, 2018

Amendments have been made in Appendices & Aayat Niryaat Forms (ANFs) pertaining to Chapter 6 of Handbook of Procedures 2015 2020 in light of implementation of GST and updation in FTP/HBP consequent upon Mid-Term Review on 5.12.2017 vide Public Notice No. 36/2015-2020-DGFT dated 4th September, 2018. GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE… Read More »

Foreign Investment in India -Reporting in Single Master Form

By | September 1, 2018

RBI/2017-18/194 A.P (DIR Series) Circular No.30 June 07, 2018 To All Category – I Authorised Dealer Banks Madam/Sir Foreign Investment in India -Reporting in Single Master Form As announced in the First Bi-monthly Monetary Policy Review dated April 5, 2018, Reserve Bank, with the objective of integrating the extant reporting structures of various types of foreign… Read More »

Category: RBI

ICAI Valuation Standards 2018 : Download /Print

By | August 28, 2018

ICAI Valuation Standards 2018 Recognising the need to have the consistent, uniform and transparent valuation policies and harmonise the diverse practices in use in India, the Council of the Institute of Chartered Accountants of India (ICAI) at its 375th meeting has issued the Valuation Standards which are 1st of its kind in India. With a… Read More »

E book by ICAI on regulatory aspects of Articled/Audit Assistants

By | August 24, 2018

Publication of E-Book on “Ready Reckoner on Regulatory Aspects of Articled/Audit Assistants: Capacity Building for CA Firms & Practitioners”: An Initiative of the Committee for Capacity Building of Members in Practice (CCBMP), ICAI The Committee for Capacity Building of Members in Practice (CCBMP), ICAI has taken an initiative to bring out a publication of E-book… Read More »

Innovation in Retail Payments : UPI 2.0

By | August 17, 2018

Innovation in Retail Payments : UPI 2.0 (Urjit R. Patel, Governor, Reserve Bank of India, August 16, 2018 – Address at the Launch of Unified Payments Interface(UPI) Version 2) I am pleased that with a view to widen the scope and to increase digital payments in India, an enhanced version of UPI is being launched… Read More »

Category: RBI

National Sports University Act 2018 : Download /print

By | August 17, 2018

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 17th August, 2018/Shravana 26, 1940 (Saka) The following Act of Parliament received the assent of the President on the 17th August, 2018, and is hereby published for general information:— THE NATIONAL SPORTS UNIVERSITY ACT, 2018 NO. 25 OF 2018 [17th August, 2018.] An Act to… Read More »

Requisitioning and Acquisition of Immovable Property (Amendment) Act 2018 : Download /Print

By | August 16, 2018

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 9th August, 2018/Shravana 18, 1940 (Saka) The following Act of Parliament received the assent of the President on the 9th August, 2018, and is hereby published for general information:— THE REQUISITIONING AND ACQUISITION OF IMMOVABLE PROPERTY (AMENDMENT) ACT, 2018 NO. 21 OF 2018 [9th August,… Read More »

Constitution (One Hundred and Second Amendment) Act 2018 : Download /Print

By | August 16, 2018

Constitution (One Hundred and Second Amendment) Act 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 11th August, 2018/Shravana 20, 1940 (Saka) The following Act of Parliament received the assent of the President on the 11th August, 2018, and is hereby published for general information:— THE CONSTITUTION (ONE HUNDRED AND SECOND AMENDMENT) ACT,… Read More »

Revenue from Non-Exchange Transactions (Taxes and Transfers) : Exposure Draft of ASLB 23

By | August 16, 2018

Committee on Accounting Standards for Local Bodies Announcement The Committee on Accounting Standards for Local Bodies (CASLB) has been formulating Accounting Standards for Local Bodies (ASLBs) since March, 2005. So far, the Committee has issued fifteen ASLBs. Moving forward in this direction, the Committee has finalised the Exposure Draft of ASLB 23, ‘Revenue from Non-Exchange Transactions… Read More »

Criminal Law (Amendment) Act 2018 : Download/Print

By | August 14, 2018

Criminal Law (Amendment) Act, 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 11th August, 2018/Shravana 20, 1940 (Saka) The following Act of Parliament received the assent of the President on the 11th August, 2018, and is hereby published for general information:— THE CRIMINAL LAW (AMENDMENT) ACT, 2018 NO. 22 OF 2018 [11th… Read More »

Revised Para 2.05 of Freign Trade policy (2015-20) on Importer-Exporter Code (IEC)

By | August 9, 2018

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 24/2015-2020  New Delhi, Dated:08 August, 2018 Subject: Amendment in Para 2.05 of Foreign Trade Policy 2015-2020. S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the… Read More »

Revised process of online IEC (Import Export Code) application

By | August 9, 2018

Guidelines On The Online Application Form For Issue/Modification In Importer Exporter Code (IEC) Number- Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi -110 011 Trade Notice No. 23/2018-19 New Delhi, Dated the  8th August, 2018 Subject: Amendment in Policy and Procedure for online IEC applications… Read More »

Apply Importer Exporter Code (IEC) online without Digital Signatures

By | August 9, 2018

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 27/2015-2020 New Delhi, Dated: 08 August, 2018 Subject: Amendment in Para 2.08 of the Handbook of Procedure 2015-2020. S.O. (E): In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy (2015-2020), the Director General of Foreign Trade hereby amends the… Read More »

Zero Tolerance against Corruption in Banks

By | August 7, 2018

Ministry of Finance Zero Tolerance against Corruption Posted On: 07 AUG 2018 6:22PM by PIB Delhi  Central Bureau of Investigation (CBI) has intimated that a total of 273 (268 Regular Cases (RCs) + 05 Preliminary Enquiry (PE)) cases have been registered by CBI relating to corruption in Banks during the year 2017 & 2018 (up… Read More »

Category: RBI

Audit of Banks

By | August 7, 2018

Ministry of Finance Audit of Banks Posted On: 07 AUG 2018 6:21PM by PIB Delhi With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and… Read More »

Category: RBI

When Bank will not Accept Cash for making Demand Draft / Transfer of Funds?

By | August 5, 2018

When Bank will not Accept Cash for making Demand Draft / Transfer of Funds? Video Explanation by CA Satbir Singh in Hindi Reserve Bank of India (RBI) Directions to Banks   Issue and Payment of Demand Drafts, etc., Any remittance of funds by way of demand draft, mail/telegraphic transfer/NEFT/IMPS or any other mode and issue of… Read More »

Banks shall use Foreign Currency conversion rate announced by FBIL : RBI

By | August 2, 2018

RBI/2018-19/34 DBR.Ret.BC.No.01/12.01.001/2018-19 August 02, 2018 The Chairperson / CEOs of all Scheduled and Non- Scheduled Banks Dear Sir/Madam, Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities– Reference rate for INR/USD and exchange rate of other major currencies. Please refer to our circular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012 on Maintenance of CRR on FCNR(B) Scheme advising banks to be… Read More »

Category: RBI

Specific Relief (Amendment) Act 2018 :Notification : Download /Print

By | August 2, 2018

Specific Relief (Amendment) Act 2018 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 1st August, 2018/Shravana 10, 1940 (Saka) The following Act of Parliament received the assent of the President on the 1st August, 2018, and is hereby published for general information:— THE SPECIFIC RELIEF (AMENDMENT) ACT, 2018 NO. 18 OF 2018 [1st… Read More »