Category Archives: other Acts

Infrastructure Lending -Definition – Banks to follow Govt Gazette Notifications -RBI

By | December 1, 2016
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RBI/2016-17/168 DBR.BP.BC.No.42/08.12.014/2016-17 December 1, 2016 All Scheduled Commercial Banks (Excluding RRBs) All India Term-Lending and Refinancing Institutions (Exim Bank, NABARD, NHB and SIDBI) Madam/Dear Sir, Financing of Infrastructure – ‘Definition of ‘ Infrastructure Lending ‘ Please refer to our circular DBOD.BP.BC.No.66/08.12.014/2013-14 November 25, 2013 on ‘Definition of Infrastructure Lending’ harmonising the RBI definition of Infrastructure… Read More »

Large Exposure Framework-RBI final guidelines

By | December 1, 2016
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RBI/2016-17/167 DBR.No.BP.BC.43/21.01.003/2016-17 December 01, 2016 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/Dear Sir, Large Exposure Framework Please refer to the paragraph 3 of the Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016 (extract enclosed). It was indicated therein that RBI will issue final guidelines on Large Exposure Framework… Read More »

Banks to abide by only instructions which are either uploaded on RBI website , Not to follow Social media

By | December 1, 2016
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Information from Unauthenticated Sources – Advisory to banks RBI/2016-17/166 DCM (Plg) No.1500/10.27.00/2016-17 December 01, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir, Information from Unauthenticated Sources – Advisory to banks In the wake… Read More »

National Anthem Mandatory for all cinema theatres to play before movie

By | November 30, 2016
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S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS Writ Petition(s)(Civil) No(s). 855/2016 SHYAM NARAYAN CHOUKSEY Petitioner(s) VERSUS UNION OF INDIA Respondent(s) Dated 30.11.2016 Summary of Judgment “Time has come for people to realise that the national anthem is a symbol of… Read More »

Cash Withdrawal from Bank- RBI updated FAQ

By | November 30, 2016
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Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even… Read More »

Chest Balance Limit / Cash Holding Limit -SBNs deposited not to be considered -RBI

By | November 30, 2016
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RBI/2016-17/164 DCM (Plg) No. 1459/10.27.00/2016-17 November 29, 2016 The Chairman / Managing Director/ Chief Executive Officer, (All banks maintaining currency chests) Dear Sir, Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit Please refer to our circular. DCM (CC) No. 2598/03.02.05/2009-10 dated October 27, 2009, which inter alia stated that… Read More »

Insurers can’t accept Old Notes of Rs 500/1,000 note towards premium

By | November 30, 2016
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Ref:IRDA/ACTL/CIR/MISC/238/11/2016 Date:29-11-2016 Clarification on “Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization To All the CEOs of the Life Insurance Companies   Re: Clarification on “Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization” Reference is… Read More »

Extended grace period for payment of life insurance policies renewal premium

By | November 30, 2016
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Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization Ref:IRDA/ACTL/CIR/ULIP/236/11/2016 Date:25-11-2016 To All the CEOs of the Life Insurance Companies   Re: Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization We are in receipt of a… Read More »