Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters - RBI
Posted Date : 23-Sep-2023 , 07:44:36 am | Posted By: CASANSAAR
The Reserve Bank had introduced a scheme for handling wilful defaulters, effective from April 1, 1999. These guidelines were subsequently consolidated into theMaster Circular on Wilful Defaulters, last updated on July 1, 2015.
2. The instructions on wilful defaulters have been revised after a review of the extant instructions and consideration of various judgments/ orders from the Hon’ble Supreme Court and Hon’ble High Courts, as well as representations/ sugges...
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RBI |
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RBI’s Master Direction on Basel III and Investment Norms 2023
Posted Date : 21-Sep-2023 , 09:06:53 pm | Posted By: CASANSAAR
Master Direction - Reserve Bank of India (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023...
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RBI |
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Data Quality Index for Commercial and Microfinance Segments by Credit Information Companies - RBI
Posted Date : 21-Sep-2023 , 08:16:03 am | Posted By: CASANSAAR
RBI/2023-24/62
DoR.FIN.REC.39/20.16.056/2023-24
September 20, 2023
All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)
All Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks
All-India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NaBFID)
All Non-Banking Financial Companies (including Housing Finance Companies)
All Asset Reconstruction Companies
All Credit Information Companies
Dear Sir/ Ma...
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RBI |
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Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24
Posted Date : 19-Sep-2023 , 08:25:17 am | Posted By: CASANSAAR
Circular No. 16/2023 :?Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24...
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Income Tax |
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Financial Inclusion Index for March 2023 - RBI
Posted Date : 16-Sep-2023 , 03:38:10 pm | Posted By: CASANSAAR
In consultation with the concerned stakeholders including the Government, the Reserve Bank of India had constructed a compositeFinancial Inclusion Index(FI-Index) to capture the extent of financial inclusion across the country, which was first published in August 2021 for the FY ending March 2021.
Index for the year ending March 2023 has since been prepared. The value of FI Index for March 2023 stands at60.1vis-à-vis56.4in March 2022, with growth witnessed across all sub-indices. Imp...
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RBI |
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Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans - RBI
Posted Date : 14-Sep-2023 , 07:55:46 am | Posted By: CASANSAAR
RBI/2023-24/60
DoR.MCS.REC.38/01.01.001/2023-24
September 13, 2023
All Commercial Banks (including Small Finance Banks
and Regional Rural Banks, excluding Payments Banks)
All Local Area Banks
All Primary (Urban) Co-operative Banks
All State Co-operative Banks and District Central Co-operative Banks
All NBFCs (including HFCs)
All Asset Reconstruction Companies
Madam / Dear Sir,
Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ S...
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RBI |
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Master Direction - Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2023
Posted Date : 13-Sep-2023 , 09:16:31 am | Posted By: CASANSAAR
Master Direction - Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2023
The extant regulatory instructions on classification and valuation of investment portfolio by commercial banks, as contained in the Reserve Bank of India (Classification, Valuation and Operation of Investment Portfolio of Commercial Banks) Directions, 2021, are largely based on a framework introduced in October 2000 drawing upon the then prevailing global standards and bes...
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RBI |
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Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans
Posted Date : 13-Sep-2023 , 09:12:18 am | Posted By: CASANSAAR
RBI/2023-24/60
DoR.MCS.REC.38/01.01.001/2023-24
September 13, 2023
All Commercial Banks (including Small Finance Banks
and Regional Rural Banks, excluding Payments Banks)
All Local Area Banks
All Primary (Urban) Co-operative Banks
All State Co-operative Banks and District Central Co-operative Banks
All NBFCs (including HFCs)
All Asset Reconstruction Companies
Madam / Dear Sir,
Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ S...
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RBI |
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Operation of Pre-Sanctioned Credit Lines at Banks through Unified Payments Interface (UPI)
Posted Date : 05-Sep-2023 , 07:49:40 am | Posted By: CASANSAAR
RBI/2023-24/58
CO.DPSS.POLC.No.S-567/02-23-001/2023-2024
September 04, 2023
The Managing Director / Chief Executive Officer
Scheduled Commercial Banks (excluding Payment Banks, Small Finance Banks and Regional Rural Banks)
Madam / Dear Sir,
Operation of Pre-Sanctioned Credit Lines at Banks through Unified Payments Interface (UPI)
Please refer to theStatement on Developmental and Regulatory Policies dated April 06, 2023, expanding the scope of UPI by enabling transfer to / from p...
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RBI |
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Enhancing transaction limits for Small Value Digital Payments in Offline Mode - RBI
Posted Date : 25-Aug-2023 , 08:10:18 am | Posted By: CASANSAAR
RBI/2023-24/57
CO.DPSS.POLC.No.S526/02-14-003/2023-24
August 24, 2023
The Chairman / Managing Director / Chief Executive Officer
Authorised Payment System Operators and Participants (Banks and Non-banks)
Madam / Dear Sir,
Enhancing transaction limits for Small Value Digital Payments in Offline Mode
This has reference to the Reserve Bank of Indiacircular CO.DPSS.POLC.No.S1264/02-14-003/2021-2022 dated January 03, 2022on “Framework for Facilitating Small Value Digital Paymen...
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RBI |
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Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans
Posted Date : 19-Aug-2023 , 07:59:50 am | Posted By: CASANSAAR
RBI/2023-24/55
DOR.MCS.REC.32/01.01.003/2023-24
August 18, 2023
All Scheduled Commercial Banks
Regional Rural Banks
Primary (Urban) Co-operative Banks
State Co-operative Banks and District Central Co-operative Banks
Non-Banking Financial Companies (including Housing Finance Companies)
Madam / Dear Sir,
Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans1
Please refer to ourcircular no. DBR.No.Dir.BC.10/13.03.00/2015-16 dated July 01, 2015...
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RBI |
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Review of Regulatory Framework for IDF-NBFCs
Posted Date : 19-Aug-2023 , 07:58:50 am | Posted By: CASANSAAR
RBI/2023-24/54
DoR.SIG.FIN.REC.31/03.10.001/2023-24
August 18, 2023
All Infrastructure Debt Fund-NBFCs (IDF-NBFCs)
Dear Sir/ Madam,
Review of Regulatory Framework for IDF-NBFCs
In order to enable IDF-NBFCs to play a greater role in the financing of the infrastructure sector and to harmonise the regulations governing financing of infrastructure sector by the NBFCs, a review of the guidelines applicable to IDF-NBFCs has been undertaken, in consultation with the Government of India....
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RBI |
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Fair Lending Practice - Penal Charges in Loan Accounts
Posted Date : 19-Aug-2023 , 07:58:04 am | Posted By: CASANSAAR
RBI/2023-24/53
DoR.MCS.REC.28/01.01.001/2023-24
August 18, 2023
All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks, excluding Payments Banks)
All Primary (Urban) Co-operative Banks
All NBFCs (including HFCs) and
All India Financial Institutions (EXIM Bank, NABARD, NHB, SIDBI and NaBFID)
Madam / Dear Sir,
Fair Lending Practice - Penal Charges in Loan Accounts
Reserve Bank has issued various guidelines to the Regulated Entities (REs) t...
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RBI |
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Simplification of KYC Processand rationalisation of Risk Management Framework - SEBI
Posted Date : 12-Aug-2023 , 08:01:19 am | Posted By: CASANSAAR
Simplification of KYC Processand rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies(KRAs)...
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SEBI |
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Reserve Bank of India Act, 1934 - Section 42(1A) - Requirement for maintaining additional CRR
Posted Date : 12-Aug-2023 , 07:57:58 am | Posted By: CASANSAAR
RBI/2023-24/52
DOR.RET.REC.29/12.01.001/2023-24
August 10, 2023
The Chairperson / CEOs of all Scheduled Commercial Banks / Regional Rural Banks /
All Scheduled Primary (Urban) Co-operative Banks / All Scheduled State Co-operative Banks
Madam / Dear Sir,
Reserve Bank of India Act, 1934 - Section 42(1A) - Requirement for maintaining additional CRR
Under Section 42(1) of the Reserve Bank of India Act, 1934, all Scheduled Banks are required to maintain with Reserve Bank of India a C...
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RBI |
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Clarification in respect of Rule 114F (5) of the Income Tax Rules, 1962 - CBDT
Posted Date : 27-Jul-2023 , 06:58:56 am | Posted By: CASANSAAR
India has signed the Multilateral Competent Authority Agreement (MCAA) for exchanging information automatically under the Common Reporting Standard (CRS) on 3rd June 2015....
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CBDT |
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Master Circular - Management of Advances - UCBs - RBI
Posted Date : 26-Jul-2023 , 06:48:44 am | Posted By: CASANSAAR
RBI/2023-24/51
DOR.CRE.REC.No.27/07.10.002/2023-24
July 25, 2023
All Primary (Urban) Co-operative Banks
Dear Sir/ Madam,
Master Circular - Management of Advances - UCBs
Please refer to ourMater Circular DOR.CRE.REC.No.17/13.05.000/2022-23 dated April 8, 2022on the captioned subject. The enclosedMaster Circularconsolidates and updates all the instructions / guidelines on the subject issued till date.
Yours faithfully
(Manoranjan Mishra)
Chief General Manager
Encl.: as ab...
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RBI |
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FAQs on TCS on LRS and Purchase of overseas tour program package - CBDT
Posted Date : 01-Jul-2023 , 09:34:01 am | Posted By: CASANSAAR
CBDT issues Circular No. 10/2023 dated 30/06/2023 containing Frequently Asked Questions (FAQs) for removal of difficulty on issues pertaining to TCS on LRS and purchase of overseas tour program package.
Sub: Circular to remove difficulty in implementation of changes relating to Tax Collection at Source (TCS) on Liberalised Remittance Scheme (LRS) and on purchase of overseas tour program package – reg...
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CBDT |
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CBDT extended Q1 - TDS / TCS Submission deadline to 30th Sep 2023
Posted Date : 29-Jun-2023 , 08:32:52 am | Posted By: CASANSAAR
Order under section 119 of the Income-tax Act, 1961 for extension of time limits for submission of certain TDS/TCS Statements...
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CBDT |
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NFRA Circular on Statutory Auditors’ Responsibilities in relation to Fraud in a Company
Posted Date : 27-Jun-2023 , 08:44:44 am | Posted By: CASANSAAR
In course of discharge of its statutory functions, NFRA has noticed that auditors are not fulfilling their statutory responsibilities relating to reporting of fraud as mandated under the Companies Act, 2013 (CA 2013) read with the relevant Rules and the applicable Standards on Auditing (SAs)....
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Corporate Laws |
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RBI Master Direction on Minimum Capital Requirements for Operational Risk
Posted Date : 26-Jun-2023 , 09:45:24 pm | Posted By: CASANSAAR
Master Direction on Minimum Capital Requirements for Operational Risk.
In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest to do so, hereby issues the Directions hereinafter specified. These Directions require a specified Commercial Bank (covered under ‘Applicability’) to hold sufficient regulatory capital against its exposures arising from operat...
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RBI |
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Status of MIFOR as a Significant Benchmark - RBI
Posted Date : 23-Jun-2023 , 08:18:54 pm | Posted By: CASANSAAR
RBI/2023-24/46
FMRD.FMSD.03/03.07.25/2023-24
June 23, 2023
To
All the Financial Benchmark Administrators
Madam/Sir
Status of MIFOR as a Significant Benchmark
Please refer to theRBI circular dated January 01, 2020andDecember 01, 2022, notifying, inter-alia, the financial benchmarks administered by Financial Benchmarks India Pvt. Ltd. (FBIL) viz., Mumbai Interbank Forward Outright Rate (MIFOR) and Modified Mumbai Interbank Forward Outright Rate (MMIFOR) as ‘significant b...
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RBI |
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Relaxation in paying additional fees in case of delay in filing DPT-3 for FY 31st March 2023
Posted Date : 23-Jun-2023 , 09:23:06 am | Posted By: CASANSAAR
Due date for fi1ing Form DPT-3 (Return of deposits) is 30th of June 2023 for the Financial Year ended on 31"1 March 2023. Keeping in view the transition of MCA-2 1 Portal from Version -2 to Version -3, it has been decided to allorv companies to filc Form DPI -3 for the financial year ended on 31"1 Merrch 2023 without paying additional fees up to 31sr July 2O23....
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Companies Act |
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Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)
Posted Date : 23-Jun-2023 , 09:18:08 am | Posted By: CASANSAAR
RBI/2023-24/45
A.P. (DIR Series) Circular No. 06
June 22, 2023
To
All Authorised Persons
Madam / Sir
Remittances to International Financial Services Centres (IFSCs)
under the Liberalised Remittance Scheme (LRS)
Attention of Authorised Persons is invited toA.P. (DIR Series) Circular No. 11 dated February 16, 2021andA.P. (DIR Series) Circular No. 03 dated April 26, 2023on “Remittances to International Financial Services Centres (IFSCs) in India under the Liberalised Remit...
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RBI |
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Sovereign Gold Bond (SGB) Scheme 2023-24 - RBI
Posted Date : 15-Jun-2023 , 10:06:59 pm | Posted By: CASANSAAR
RBI/2023-24/44
IDMD.CDD.No.S650/14.04.050/2023-24
June 15, 2023
Scheduled Commercial Banks (as per the list attached),
Designated Post Offices (as per the list attached)
Stock Holding Corporation of India Ltd.
National Stock Exchange of India Ltd, Bombay Stock Exchange Ltd.
Clearing Corporation of India Ltd.
Madam/Dear Sir,
Sovereign Gold Bond (SGB) Scheme 2023-24
Government of India, vide itsNotification No F.No 4.(6) - B(W&M)/2023 dated June 14, 2023, has announced Sove...
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Category :
RBI |
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Agency Commission for collection of indirect taxes through ICEGATE payment gateway - RBI
Posted Date : 14-Jun-2023 , 09:17:22 pm | Posted By: CASANSAAR
RBI/2023-24/43
CO.DGBA.GBD.No.S295/31-12-010/2023-2024
June 14, 2023
All Agency banks
Madam / Dear Sir
Agency Commission for collection of indirect taxes through ICEGATE payment gateway
Please refer to Para 21 of ourMaster Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated April 1, 2023related to claiming of agency commission.
2. Since certain transactions related to collection of indirect taxes through ICEGATE (CEP) payment gateway...
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RBI |
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Cost Inflation Index for the Financial Year / Assessment Year 2023-24 / 2024-25
Posted Date : 13-Jun-2023 , 09:21:18 pm | Posted By: CASANSAAR
S.O. 2571(E).— In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:-...
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CBDT |
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Priority Sector Lending (PSL) targets / sub-targets and contribution against shortfall in achievement of PSL targets
Posted Date : 10-Jun-2023 , 09:37:13 am | Posted By: CASANSAAR
RBI/2023-24/42
DOR.CRE.REC.18/07.10.002/2023-24
June 8, 2023
Primary (Urban) Co-operative Banks other than Salary Earners’ Banks
Madam / Dear Sir,
Priority Sector Lending (PSL) targets / sub-targets and contribution against shortfall in achievement of PSL targets – Primary (Urban) Co-operative Banks (UCBs) - Extension of time
Please refer to para 3 of thecircular DOR (PCB).BPD.Cir No.10/13.05.000/2019-201dated March 13, 2020, and para 5 ofMaster Direction on Priority ...
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Category :
RBI |
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Guidelines on Default Loss Guarantee (DLG) in Digital Lending - RBI
Posted Date : 10-Jun-2023 , 09:36:08 am | Posted By: CASANSAAR
RBI/2023-24/41
DOR.CRE.REC.21/21.07.001/2023-24
June 08, 2023
All Commercial Banks (including Small Finance Banks),
Primary (Urban) Co-operative Banks, State Co-operative Banks,
Central Co-operative Banks; and
Non-Banking Financial Companies (including Housing Finance Companies)
Madam/ Dear Sir,
Guidelines on Default Loss Guarantee (DLG) in Digital Lending
A reference is invited to Para (3.4.3.1) of Section C of Annex-II to theRBI Press Release “Recommendations of the Wo...
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Category :
RBI |
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Revision of exceptions to monetary limits for filing appeals deferred under provisions of Section 158AB
Posted Date : 10-Jun-2023 , 09:30:58 am | Posted By: CASANSAAR
The Board has, from time-to-time, revised monetary thresholds for filing appeals before various judicial fora. The last such revision was through Circular No. 17/2019 dated 08.08.2019. Exceptions to the monetary limits are as per Board’s letter F.No. 279/Misc.142/2007-ITJ(Pt.) dated 20.08.2018 and OM issued vide F.No.279/Misc./M-93/2018-ITJ(Pt.) dated 16.09.2019....
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CBDT |
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