RBI/2014–15/557 FIDD.No.FSD.BC.53/05.04.02/2014–15 April 16, 2015 Please refer to our Circular FIDD. No. FSD.BC. 48/05.04.02/2014–15 dated January 21, 2015 on Interest Subvention Scheme for Short-term Crop Loans for the year 2014–15. As regards the Scheme for the year 2015–16, Government of India (GoI)…
Category: RBI
All Term Deposit in Banks below Rs.15Lakh should have premature Withdrawal facality
BI/2014–15/554 DBR.No.Dir.BC.87/13.03.00/2014–15 April 16, 2015 Please refer to our circulars DBOD. No. Dir.BC.36/13.03.00/98 dated April 29, 1998, DBOD. No. Dir.BC.07/13.03.00/2001–02 dated August 11, 2001 and DBOD. No. Dir. BC.74/13.03.00/2012–13 dated January 24, 2013 in terms of which banks are allowed to offer…
Guidelines on Corporate Governance — For NBFC: RBI
RBI/2014–15/552 DNBR (PD) CC.No.029/ 03.10.001/ 2014–15 April 10, 2015 Please refer to the Revised Regulatory Framework for NBFCs issued vide DNBR (PD) CC.No.002/ 03.10.001/ 2014–15 dated November 10, 2014 (the Framework). Corporate Governance and Disclosure norms for NBFCs, contained in para 9…
NBFCs- Lending against Shares 50% LTV to be maintained at all times
RBI/2014–15/551 DNBR (PD).CC.No.028/03.10.001/2014–15 April 10, 2015 Please refer to our circular DNBS (PD).CC.No.408/03.10.001/2014–15 dated August 21, 2014. We have since received a number of queries from the industry participants seeking clarification on the applicability of the circular. In this connection, the following…
Deccan Grameena Bank name changed to Telangana Grameena Bank: RBI
RBI/2014–15/547 DBR.RRB.BC.No.86 /31.04.002/2014 ‑15 April 9, 2015 We advise that the name of ‘’Deccan Grameena Bank’’ has been changed to ‘’Telangana Grameena Bank’’ in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notification DBR.RRB.No.65/03.05.33/2014–15 dated January 30, 2015…
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Projects Under Implementation
RBI/2014–15/538 DBR.No.BP.BC.84/21.04.048/2014–15 April 6, 2015 We have been receiving representations from banks that, in the case of projects which have been stalled primarily due to inadequacies of the current promoters, a change in ownership/management may be required to revive the project. However,…
Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Refinancing of Exposures to Borrowers: RBI
RBI/2014–15/539 DBR.No.BP.BC.85/21.04.048/2014–15 April 6, 2015 In terms of circular DBOD.No.BP.BC.107/21.04.048/2013–14 dated April 22, 2014 and A.P. (DIR Series) Circular No.129 dated May 9, 2014, Indian companies are not permitted to raise external commercial borrowings (ECB) from overseas branches / subsidiaries of Indian…
Provisioning by Banks for Fraud advance Accounts: RBI
RBI/2014–15/535 DBR.No.BP.BC.83/21.04.048/2014–15 April 1, 2015 Please refer to the guidelines compiled in paragraph 4.2.9 of Master Circular on Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2014, in terms of which, in accounts where there…
NBFC can Distribute Mutual Fund products without Prior Approval of RBI
RBI/2014–15/578 DNBR. (PD).CC.No. 033/03.10.001/2014–15 April 30, 2015 2. On a review, since the distribution of Mutual Fund products by the NBFCs is on non-risk sharing basis and purely as a customer service, it has now been decided to dispense with the requirement…
Import from Third Country by Nepal & Bhutan Via India would qualify for traffic-in-transit
RBI/2014–15/580 A.P.(DIR Series) Circular No. 97 April 30, 2015 Attention of Authorised Dealer Category‑I (AD Category‑I) banks is invited to A.P. (DIR Series) Circular No. 115 dated March 28, 2014. In terms of the revised merchanting trade guidelines stipulated therein, for a trade…