i) What is an “e‐Insurance policy”? “e-insurance policy” is a digitally signed insurance contract issued in an electronic form by an Insurer either directly to the policyholder or through the platform of registered Insurance repository. ii) Why do we need electronic policies for motor insurance? Many times, the physical copy of the motor insurance policy… Read More »
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 A. Definitions Q1. Regulation 2(1)(b) of LR defines an ‘associate company’ to mean any entity which is an associate under the Companies Act, 2013 or under the applicable accounting standards. Whether both conditions have to be met or either of the two? Answer: The definition of associate… Read More »
Source : Reserve Bank of India GOVERNMENT OF INDIA MINISTRY OF FINANCE Department of Economic Affairs (Budget Division) New Delhi, the January 08, 2016 NOTIFICATION Repurchase of Inflation Indexed Bond F.No 4(16)-W&M/2012: The Government of India hereby notifies repurchase of “1.44 per cent Inflation Indexed Government Stock-2023” (hereinafter called the Government Stocks). Mode of Repurchase… Read More »
Source Reserve Bank of India RBI/2015-16/283 DBR.No.FID.FIC 5/01.02.00/ 2015-16 January 07, 2016 All-India Term-Lending and Refinancing Institutions (EXIM Bank, NABARD, NHB and SIDBI) Dear Sir/ Madam Master Circular- Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs- Amendment Please refer to Paragraph No.2.5.3.4 (iii) of Master Circular DBR.No.FID.FIC.3/01.02.00/2015-16 dated July 01, 2015… Read More »
RBI/2015-16/282 DBR.IBD.BC. 8536/23.13.004/2015-16 January 07, 2016 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to our circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015 setting out RBI directions relating to financial institutions set up in the International Financial Services Centres (IFSC). Based on… Read More »
Source Reserve Bank of India RBI/2015-16/281 DBR.Dir.BC.No.70/13.03.00/2015-16 January 07, 2016 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam Non Fund Based Facility to Non-constituent Borrowers of Bank Please refer to paragraph 2(iii) of our circular DBOD.Dir.BC.62/13.07.09/2002-03 dated January 24, 2003 on ‘Discounting/Rediscounting of Bills by banks’ advising banks not to extend any non-fund based facilities… Read More »
The Negotiable Instruments (Amendment) Bill, 2015 notified; Focus on clarifying the jurisdiction related issues for filing cases for offence committed under Section 138 of the Act The Negotiable Instruments (Amendment) Bill, 2015 was passed by the Parliament in the recently concluded Winter Session of the Parliament. The Negotiable Instruments (Amendment) Act, 2015 received the assent… Read More »
Source Reserve Bank of India RBI/FED/2015-16/2 FED Master Direction No. 6/2015-16 January 1, 2016 To All Authorised Dealer Category – I banks and Authorised Banks Madam/ Dear Sir, Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin Borrowing and lending transactions in… Read More »
Source : Reserve Bank of India RBI/FED/2015-16/3 FED Master Direction No. 7/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Liberalised Remittance Scheme (LRS) The captioned Scheme was introduced on February 4, 2004, vide A.P. (DIR Series) Circular No. 64 dated February 4, 2004 read with GoI… Read More »
Source Reserve Bank of India RBI/FED/2015-16/4 FED Master Direction No. 8/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Other Remittance Facilities Miscellaneous remittance facilities for residents are allowed in terms of Section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification… Read More »