Amendment in Negotiable Instruments Act, 1881 - Relief against Dishonoured Cheques
Posted Date : 08-Aug-2018 , 12:43:19 pm | Posted By
CS Piyush Jain
Amendment in Negotiable Instrument Act, 1881 for cases of DISHONOUR OF CHEQUE
The Negotiable Instruments (Amendment) Act, 2018:
The Negotiable Instruments (Amendment) Act aims to amend the Negotiable Instruments Act, 1881, asking the drawer of a cheque that has been dishonoured to pay int...
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Category : RBI |
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RBI New circular for FDI
Posted Date : 20-Jun-2018 , 06:00:35 pm | Posted By
CA Tanya Panwar
This is to notify you all that, RBI through its Master Circular dated June 7th, 2018, has introduced Single Master Form (SMF) for all types of reporting in respect to Foreign Investment in India.
Implementation of the SMF means that all the Indian entities who have rec...
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Category : RBI |
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100% FDI in “Other Financial Servicesâ€
Posted Date : 21-Oct-2016 , 05:10:28 pm | Posted By
Prabhash Choudhary
100% FDI in “Other Financial Services” - a move to attract more foreign capital in India The Reserve Bank of India issued a notification permitting 100 percent foreign direct investment in ‘Other Financial Services’ carried out by non-banking finance firms under t...
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Category : RBI |
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Transparency required in allotment of PSU and Bank Audit
Posted Date : 23-Apr-2016 , 12:05:30 am | Posted By
CA Gopal Rathi
Dear CA friends,
Arbitrary criteria exist for the allotment of audit of public sector units. Every department made their own different rules and conditions for appointment though there is existence of ICAI Multipurpose empanelment form(MEF).
There is something which is hidden and n...
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Category : RBI |
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Process flow under TReDS – Trade Receivables Discounting System
Posted Date : 01-Feb-2015 , 01:40:39 am | Posted By
Jatin Kumar
a. Corporate buyer sends purchase order to MSME seller
b. MSME seller delivers the goods along with an invoice. There may or may not be an accepted bill of exchange depending on the trade practice between the buyer and the seller.
c. Thereafter, on the basis of either an invoice or a bill of e...
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Category : RBI |
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Why our currency value is Falling day by day?
Posted Date : 25-Aug-2013 , 11:18:27 am | Posted By
Keshav Kumar KC
Usual discussions on the fall in the rupee bring up macro-economic matters such as slowing economic growth, corporate earnings and market volatility. However, the woes aren't restricted to corporate corridors or the Dalal Street. For the common man, the falling rupee is going to hit where it hurts t...
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Five reasons why rupee is depreciating
Posted Date : 02-Jul-2013 , 02:41:02 pm | Posted By
Vikash Kumar Jha
Let's have a look at the five major reasons behind the rupee's weakness:
Dollar On A Horse Ride
The main reason causing the rupee to fall is the immense strength of the Dollar Index, which has touched its three-year high level of 84.30. The record setting performance of US equ...
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Category : RBI |
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Guidelines for issue of Debit Cards by banks
Posted Date : 10-Jan-2013 , 07:45:22 pm | Posted By
Vinay Sharma
Banks may ensure that all debit cards issued by them are subject to the following guidelines:
a) Board approved policy
Banks may formulate a comprehensive debit cards issuance policy including policy on co-branded debit cards with the approval of their Boards and issue debit cards to thei...
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Category : RBI |
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Master Circular on Inspection & Audit Systems in Primary (Urban) Co-op. Banks
Posted Date : 27-Dec-2012 , 01:00:30 pm | Posted By
Vinay Sharma
Master Circular on
Inspection & Audit Systems in Primary (Urban) Co-op. Banks
1. Introduction
1.1 It has been observed that quite often the internal inspection machinery in banks has failed to highlight and pinpoint the existence of gross and serious irregularities such as improper ...
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Category : RBI |
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REAL TIME GROSS SETTLEMENT { RTGS}
Posted Date : 30-Sep-2012 , 11:42:25 am | Posted By
SANJEEV KHULLAR
What is RTGS
Define RTGS :
The full form of RTGS is "Real Time Gross Settlement". It is a project which is mainly handled by RBI and it can be defined as "the continuous (real-time) settlement of funds transfers individually ...
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Provisioning on Bad Loans
Posted Date : 07-Mar-2012 , 07:08:31 pm | Posted By
Kshitij Nijhawan
The Reserve Bank of India has relaxed norms regarding setting aside money for bad loans. A move which has come as a major relief for all commercial banks.
The banking regulator has said banks should maintain 70% of the provision coverage ratio (PCR) of their gross ...
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Category : RBI |
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RBI nod must for NBFCs to open subsidiaries abroad
Posted Date : 16-Jun-2011 , 02:32:27 am | Posted By
PRIYANKA
With an aim to regulate the credit system to the advantage of the country, the Reserve Bank of India (RBI) today said non-banking financial companies (NBFCs) cannot open subsidiaries or enter into joint ventures abroad without its permission.
"No NBFC shall open subsidiaries/j...
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RBI relaxes norms for making payments using mobile phones. Raises Limit to Rs.50000
Posted Date : 06-May-2011 , 12:01:22 am | Posted By
CA. Sachin Data
Relaxing the norms for making payments using mobile phones, known as m-wallet, the Reserve Bank today decided to increase the limit of money-loading to Rs 50,000 from the existing limit of Rs 5,000.
“The maximum value of such prepaid semi-closed m-wallet shall not exceed Rs 50,000,&rdqu...
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