Large Exposures Framework – Deferment of applicability of limits on non-centrally cleared derivatives exposures
Posted Date : 24-Mar-2021 , 08:56:33 am | Posted By: CASANSAAR
RBI/2020-21/109
DOR.No.CRE.BC.47/21.01.003/2020-21
March 23, 2021
All Scheduled Commercial Banks
(Excluding Small Finance Banks, Payments Banks
Local Area Banks and Regional Rural Banks)
Dear Sir/Madam,
Large Exposures Framework – Deferment of applicability of limits on non-centrally cleared derivatives exposures
Please refer tocircular No.DOR.No.BP.BC.43/21.01.003/2019-20 dated March 23, 2020on Large Exposures Framework (LEF).
2. On a review it has been decided that n...
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RBI |
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Reporting and Accounting of Central Government transactions of March 2021
Posted Date : 19-Mar-2021 , 08:18:13 am | Posted By: CASANSAAR
RBI/2020-21/108
DGBA.GBD.No.S-140/42.01.029/2020-21
March 18, 2021
All Agency Banks
Madam/Dear Sir,
Reporting and Accounting of Central Government transactions of March 2021
Please refer toCircular DGBA.GBD.No.1744/42.01.029/2019-20 dated March 17, 2020advising the procedure to be followed for reporting and accounting of Central Government transactions (including CBDT, CBIC, Departmentalized Ministries and Non-Civil Ministries) at the Receiving/Nodal/Focal Point branches of your ...
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RBI |
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CBDT notifies New Form 15E and rule 29BA
Posted Date : 18-Mar-2021 , 08:39:45 am | Posted By: CASANSAAR
G.S.R. 194(E).—In exercise of the powers conferred by section 195 read with section 295 of the Income- tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:-...
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Income Tax |
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Income-Tax Authorities- Amendment in Notification No. 66/2014
Posted Date : 18-Mar-2021 , 08:36:56 am | Posted By: CASANSAAR
S.O. 1225(E).—In exercise of the powers conferred by sub-section (I) and sub-section (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Central Board of Direct Taxes, No.66/2014 dated 13th November, 2014 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide No. S.O. 2907(E), dated 13th November, 2014, nam...
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Income Tax |
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Extension of Cheque Truncation System (CTS) across all bank branches in the country
Posted Date : 16-Mar-2021 , 08:16:50 am | Posted By: CASANSAAR
RBI/2020-21/107
DPSS.CO.RPPD.No.SUO 21102/04.07.005/2020-21
March 15, 2021
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including Regional Rural Banks /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks / Local Area Banks / Payment Banks /
Small Finance Banks / National Payments Corporation of India
Madam / Dear Sir,
Extension of Cheque Truncation System (CTS) across all bank branches in the c...
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RBI |
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Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
Posted Date : 13-Mar-2021 , 09:15:18 am | Posted By: CASANSAAR
RBI/2020-21/106
DoR.FIN.REC.46/20.16.056/2020-21
March 12, 2021
All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) excluding Payment Banks
All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks
All-India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI)
All Non-Banking Financial Companies (including Housing Finance Companies)
All Credit Information Companies
Madam / Sir,
Data Forma...
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RBI |
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CBIC issues clarification on refund related issues
Posted Date : 13-Mar-2021 , 09:11:38 am | Posted By: CASANSAAR
Various representations have been received seeking clarification on some of the issues relating to GST refunds. The issues have been examined and to ensure uniformity in the implementation of the provisions of law across the field formations, the Board, in exercise of its powers conferred by section 168 (1) of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as “CGST Act”), hereby clarifies the issues detailed hereunder:...
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GST |
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GST e-Invoicing mandatory if turnover exceeds Rs 50 Cr.
Posted Date : 09-Mar-2021 , 09:05:08 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
Notification No. 05/2021–Central Tax
New Delhi, the 8th March, 2021
G.S.R. 160(E).—Inexercise of the powers conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017, the Government, on the recommendations of the Council, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department o...
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GST |
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Residential status of certain individuals under Income-tax Act, 1961
Posted Date : 05-Mar-2021 , 08:42:56 am | Posted By: CASANSAAR
Section 6 ofthe Income-tax Act, 1961 (the Act) contains provisions relating to determination of residency of a person. The status of an individual, as to whether he is resident in India or a nonresident or not ordinarily resident, is dependent, inter-alia, on the period for which the person is in India during a previous year or years preceding the previous year....
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Income Tax |
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Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations
Posted Date : 27-Feb-2021 , 08:44:02 am | Posted By: CASANSAAR
RBI/2020-21/105
A.P. (DIR Series) Circular No. 12
February 26, 2021
To
All Authorised persons
Madam / Sir,
Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified videNotification No. FEMA. 396/2019-RB dated October 17, 2019, as amended from time to time, and the relevant directions issued thereunder. A...
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FEMA |
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Large Exposures Framework – Exemptions - RBI
Posted Date : 25-Feb-2021 , 08:37:36 am | Posted By: CASANSAAR
RBI/2020-21/104
DOR.No.CRE.BC.45/21.01.003/2020-21
February 24, 2021
All Scheduled Commercial Banks
(Excluding Small Finance Banks, Payments Banks
Local Area Banks and Regional Rural Banks)
Dear Sir/Madam,
Large Exposures Framework – Exemptions
Please refer tocircular No.DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019on Large Exposures Framework (LEF)
2. Paragraph 3 of the Annex to the above circular specifies the exposures that are exempt from the LEF. On a revi...
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RBI |
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Clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance
Posted Date : 25-Feb-2021 , 08:32:13 am | Posted By: CASANSAAR
Notification No. 14/2020-Central Tax, dated 21st March 2020 had been issued which requires Dynamic QR Code on B2C invoice issued by taxpayers having aggregate turnover more than 500 crore rupees, w.e.f. 01.12.2020. Further, vide Notification No. 89/2020- Central Tax, dated 29th November 2020, penalty has been waived for non-compliance of the provisions of Notification No.14/2020 – Central Tax for the period from 01st December, 2020 to 31st March, 2021, subject to the condition that the sai...
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GST |
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Master Direction on Digital Payment Security Controls - RBI
Posted Date : 19-Feb-2021 , 07:10:29 am | Posted By: CASANSAAR
Please refer to para II (7) of the Statement on Developmental and Regulatory Policies of the Bi-monthly Monetary Policy Statement for 2020-21 dated December 4, 2020 (extract given below). The Master Direction provides necessary guidelines for the regulated entities to set up a robust governance structure and implement common minimum standards of security controls for digital payment products and services...
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RBI |
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Remittances to International Financial Services Centres (IFSCs) in India under the Liberalised Remittance Scheme (LRS)
Posted Date : 17-Feb-2021 , 09:03:34 am | Posted By: CASANSAAR
RBI/2020-21/99
A.P. (DIR Series) Circular No. 11
February 16, 2021
To
All Category-I Authorised Dealer Banks
Madam / Sir
Remittances to International Financial Services Centres (IFSCs) in India under the
Liberalised Remittance Scheme (LRS)
Please refer to theStatement on Development and Regulatory Policesannounced as part of theBi-monthly Monetary Policy Statement dated February 05, 2021on the above subject.
2. With a view to deepen the financial markets in International F...
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Category :
FEMA |
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Margin for Derivative Contracts - RBI
Posted Date : 16-Feb-2021 , 08:29:34 am | Posted By: CASANSAAR
RBI/2020-21/98
A. P. (DIR Series) Circular No. 10
February 15, 2021
All Authorised Dealer Category-I Banks
Madam/Sir,
Margin for Derivative Contracts
Attention of Authorised Dealer Category-I (AD Cat-I) banks is invited to the Foreign Exchange Management (Margin for Derivative Contracts) Regulations, 2020 notified in the Gazette of India vide notification no. FEMA.399/RB-2020 dated October 23, 2020 (Annex I). Accordingly, directions are being issued to allow posting and collectio...
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FEMA |
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Investment in NBFCs from FATF non-compliant jurisdictions - RBI
Posted Date : 13-Feb-2021 , 08:44:18 am | Posted By: CASANSAAR
RBI/2020-2021/97
DOR.CO.LIC.CC No.119/03.10.001/2020-21
February 12, 2021
To
Non-Banking Financial Companies (NBFCs)
(including Housing Finance Companies) and
Asset Reconstruction Companies
Madam / Dear Sir,
Investment in NBFCs from FATF non-compliant jurisdictions
The Financial Action Task Force (FATF) periodically identifies jurisdictions with weak measures to combat money laundering and terrorist financing (AML/CFT) in its following publications: i) High-Risk Jurisdiction...
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RBI |
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Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR)
Posted Date : 06-Feb-2021 , 08:15:39 am | Posted By: CASANSAAR
RBI/2020-21/95
DOR.No.LRG.BC.40/21.04.098/2020-21
February 05, 2021
All Commercial Banks
(excluding Regional Rural Banks,
Local Area Banks and Payments Banks)
Dear Sir/Madam,
Basel III Framework on Liquidity Standards –
Net Stable Funding Ratio (NSFR)
Please refer to ourcircular DBR.BP.BC.No.106/21.04.098/2017-18 dated May 17, 2018on Basel III Framework on Liquidity Standards - Net Stable Funding Ratio (NSFR)-Final Guidelines (‘NSFR Guidelines’) andcircular D...
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RBI |
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SLR holdings in HTM category - RBI
Posted Date : 06-Feb-2021 , 08:15:03 am | Posted By: CASANSAAR
RBI/2020-21/94
DOR.No.MRG.BC.39/21.04.141/2020-21
February 5, 2021
All Commercial Banks
Madam/ Sir,
SLR holdings in HTM category
Please refer to paragraph 4 ofStatement on Developmental and Regulatory Policies dated February 5, 2021and ourcircular DoR.No.BP.BC.22/21.04.141/2020-21 dated October 12, 2020on the above subject.
2. Banks are permitted to exceed the limit of 25 per cent of the total investments under Held to Maturity (HTM) category provided:
the excess comp...
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RBI |
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Basel III Capital Regulations- Review of transitional arrangements
Posted Date : 06-Feb-2021 , 08:14:26 am | Posted By: CASANSAAR
RBI/2020-21/93
DOR.CAP.BC.No.34/21.06.201/2020-21
February 5, 2021
All Commercial Banks
(Excluding Small Finance Banks, Payments Banks, RRBs and LABs)
Dear Sir/Madam,
Basel III Capital Regulations- Review of transitional arrangements
Please refer tocircular DOR.BP.BC.No.15/21.06.201/2020-21 dated September 29, 2020on ‘Basel III Capital Regulations- Review of transitional arrangements’.
2. In view of the continuing stress on account of COVID-19 and in order to aid ...
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RBI |
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Credit to MSME Entrepreneurs - RBI
Posted Date : 06-Feb-2021 , 08:13:51 am | Posted By: CASANSAAR
RBI/2020-21/92
DOR.No.Ret.BC.37/12.01.001/2020-21
February 05, 2021
All Scheduled Commercial Banks
Dear Sir / Madam
Credit to MSME Entrepreneurs
In terms of paragraph 5 of theStatement on Developmental and Regulatory Policies of February 5, 2021, Scheduled Commercial Banks will be allowed to deduct the amount equivalent to credit disbursed to ‘New MSME borrowers’ from their Net Demand and Time Liabilities (NDTL) for calculation of the Cash Reserve Ratio (CRR). For the...
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RBI |
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Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF) - Extension of Relaxation
Posted Date : 06-Feb-2021 , 08:13:02 am | Posted By: CASANSAAR
RBI/2020-21/91
DOR.No.Ret.BC.36/12.01.001/2020-21
February 05, 2021
All Scheduled Banks
Dear Sir / Madam
Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) –
Marginal Standing Facility (MSF) - Extension of Relaxation
Please refer to ourcirculars DOR.No.Ret.BC.52/12.01.001/2019-20 dated March 27, 2020,DOR.RRB.No.28/31.01.001/2020-21 dated December 4, 2020andPress Release No.2020-2021/401 dated September 28, 2020on Marginal ...
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RBI |
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Maintenance of Cash Reserve Ratio (CRR) - RBI
Posted Date : 06-Feb-2021 , 08:12:20 am | Posted By: CASANSAAR
RBI/2020-21/90
DOR.No.Ret.BC.35/12.01.001/2020-21
February 5, 2021
All Banks
Dear Sir / Madam
Maintenance of Cash Reserve Ratio (CRR)
Please refer to ourCircular DOR.No.Ret.BC.49/12.01.001/2019-20 dated March 27, 2020, on the captioned subject. The cash reserve ratio (CRR) of all banks was reduced by 100 basis points to 3.00 per cent of their Net Demand and Time liabilities (NDTL) effective from the reporting fortnight beginning March 28, 2020. The dispensation was available for ...
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RBI |
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Loans and advances to directors, their relatives, and firms / concerns in which they are interested
Posted Date : 06-Feb-2021 , 08:11:29 am | Posted By: CASANSAAR
RBI/2020-21/89
DOR.CRG.CRS.Cir.No.5/13.05.000/2020-21
February 5, 2021
The Managing Director / Chief Executive Officer
All Primary (Urban) Co-operative Banks
Dear Sir / Madam,
Loans and advances to directors, their relatives, and firms / concerns in which they are interested
Please refer to ourcircular BPD.Cir.50/13.05.00/2002-03 dated April 29, 2003on the captioned subject and subsequent i...
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RBI |
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Risk-Based Internal Audit (RBIA) - RBI
Posted Date : 04-Feb-2021 , 07:44:59 am | Posted By: CASANSAAR
RBI/2020-21/88
Ref.No.DoS.CO.PPG./SEC.05/11.01.005/2020-21
February 03, 2021
The Chairman / Managing Director / Chief Executive Officer
All deposit taking Non-Banking Finance Companies (NBFCs)
All non-deposit taking NBFCs (including Core Investment Companies) with asset size of ₹5,000 crore and above
All Primary (Urban) Co-operative Banks (UCBs) with asset size of ₹500 crore and above
Madam / Dear Sir,
Risk-Based Internal Audit (RBIA)
An independent and effective i...
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RBI |
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Relaxation of additional fee in filing all AOC-4 e-forms - MCA
Posted Date : 30-Jan-2021 , 10:13:43 am | Posted By: CASANSAAR
General Circular No.04/2021
F.No. 01/34/2013 CL-V -Part-III
Government of India
Ministry of Corporate Affairs
5th Floor, ‘A’ Wing, Shastri Bhawan,
Dr. Rajendra Prasad Road, New Delhi-1
Dated: 28th January, 2021
To
All Regional Directors,
All Registrar of Companies,
All Stakeholders.
Subject: Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL and AOC-4 Non-XBRL for the financial year ended on 31.03.2020 under the Companies Act,...
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Category :
Companies Act |
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Strengthening of Grievance Redress Mechanism in Banks - RBI
Posted Date : 28-Jan-2021 , 09:27:39 am | Posted By: CASANSAAR
RBI/2020-21/87
CEPD.CO.PRD.Cir.No.01/13.01.013/2020-21
January 27, 2021
All Scheduled Commercial Banks (excluding Regional Rural Banks)
Madam/Dear Sir,
Strengthening of Grievance Redress Mechanism in Banks
Please refer to the ‘Statement on Developmental and Regulatory Policies’ issued as part of theMonetary Policy statement dated December 4, 2020, wherein it was stated that with a view to strengthen and improve the efficacy of the grievance redress mechanism of banks ...
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Category :
RBI |
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Prudential Guidelines on Capital Adequacy and Market Discipline - RBI
Posted Date : 28-Jan-2021 , 09:26:45 am | Posted By: CASANSAAR
RBI/2020-21/86
DOR.No.CRE.BC.33/21.06.007/2020-21
January 27, 2021
All Scheduled Commercial Banks
(Excluding Payment Banks, Local Area Banks and Regional Rural Banks)
Dear Sir/Madam,
Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF) - Eligible Credit Rating Agencies – CRISIL Ratings Limited
Please refer to theMaster Circular DBR.No.BP.BC.4./21.06.001/2015-16 dated July 1, 2015on 'Prudential Guidelines on Capital Ade...
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Category :
RBI |
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Withdrawal of circulars - on Recovery of excess pension made to pensioners
Posted Date : 23-Jan-2021 , 10:48:58 am | Posted By: CASANSAAR
RBI/2020-21/84
DGBA.GBD.No.SUO 546/45.01.001/2020-21
January 21, 2021
The Chairman / Chief Executive Officer
All Agency Banks
Dear Sir,
Withdrawal of circulars - on Recovery of excess pension made to pensioners
It has been brought to the notice of RBI that the recovery of excess /wrong pension payments from the pensioners are being made in a manner that is not in keeping with the extant gui...
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RBI |
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Extension of the validity of the registration certificates issued under the Foreign Contribution (Regulation) Act
Posted Date : 18-Jan-2021 , 09:24:44 am | Posted By: CASANSAAR
Government of India
Ministry of Home Affairs
Foreigners Division (FCRA)
First Floor, Major Dhyan Chand National Stadium
India Gate Circle, New Delhi-110001
Dated: 12th January, 2021
PUBLIC NOTICE
Subject: Extension of the validity of the registration certificates issued under the Foreign Contribution (Regulation) Act, 2010 expiring during the period between 29th September, 2020 and 31st May, 2021 upto 31st May, 2021.
The Ministry of Home Affairs is mandated to administer the Fore...
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Category :
FEMA |
Comments :
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Clarification on spending of CSR funds for Awareness & public outreach on COVID-19 Vaccination programme
Posted Date : 14-Jan-2021 , 09:01:51 am | Posted By: CASANSAAR
Clarification on spending of CSR funds for Awareness and public outreach on COVID-19 Vaccination programme...
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Category :
Companies Act |
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