The Government has notified the Scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months to borrowers in specified loan accounts from March 1, 2020, to August...
The Karnataka Authority of Advance Ruling (AAR) ruled that activities of Liaison Office amounts to supply of service, liable to pay GST. The applicant, M/s. Fraunhofer-Gesellschaft Zur Forderung der angewandten Forschung incorporated in Germany, undertakes...
The Governor of the Reserve Bank of India (RBI), Shaktikanta Das in its Statement on Development and Regulatory Policies said that the Real Time Gross Settlement System (RTGS), used for large value transactions, will be...
The Reserve Bank of India (RBI) has allowed co-operative banks including urban cooperative banks to avail Interest Subvention Scheme for micro, small and medium enterprises (MSMEs), which was earlier restricted to Commercial banks alone. In...
The Delhi High Court refused to grant an injunction against the Banking Financial Analyst (BFA) for the alleged infringement of Chartered Financial Analysts (CFA) registered mark. The plaintiff, CFA filed the suit for permanent injunction...
The Madras High Court while dismissing a plea by investors of Yes Bank upheld the legal validity of the Reserve Bank of India’s (RBI) circular on additional Tier 1 Capital bonds. Yes Bank’s AT1 bonds...
The Central Government has appointed three external members to the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) after the four year tenure of the earlier nominees ended in September. The Appointments...
The Central Government has extended the tenure of appointment of Madhabi Puri Buch as Whole-Time Member of the Securities and Exchange Board of India (SEBI) for a further period of one year beyond 04.10.2020 upto...
The government has told the Supreme Court that it has decided to waive “interest on interest” on loans of up to Rs. 2 crore during the six-month moratorium period. The petitioner, Gajendra Sharma sought a...
Punjab National Bank has invited applications for the post of Chief Financial Officer. Punjab National Bank (PNB) is a Banking and Financial service bank owned by the Government of India with its headquarters is in...
The lower house of the Parliament, the Lok Sabha has passed The Banking Regulation (Amendment) Bill, 2020. The Banking Regulation (Amendment) Bill, 2020 was introduced in Lok Sabha on September 14, 2020. The Bill amends...
The Reserve Bank of India (RBI) on Monday has directed banks to introduce an automated IT-based system for asset classification and provisioning. The RBI with the objective to ensure the completeness and integrity of the...
As the major tax provision kicks off from next month, one needs to keep a tap on their foreign remittances if any as they will now attract TCS at the rate of 5% subject to...
The Reserve Bank of India (RBI) has released the expert committee report on Resolution Framework for COVID-19 relates stress. The Reserve Bank had, on August 7, 2020, announced the constitution of an Expert Committee under...
The Reserve Bank of India ( RBI ) has revised the priority section lending Guidelines. The RBI has comprehensively reviewed the Priority Sector Lending ( PSL ) Guidelines to align it with emerging national priorities and bring...
The Securities Exchange Board of India (SEBI) has notified on provisions regarding the segregation of portfolios due to the COVID -19 pandemic. It has notified the date of the proposal for restructuring of debt received by...
The Reserve Bank of India (RBI) has permitted banks to acquire and hold Statutory Liquidity Ratio (SLR) securities issued on or after September 1, 2020, in the Held To Mature (HTM) category, subject to an...
The Institute of Chartered Accountants of India (ICAI) on Tuesday pitched the Forensic Accounting and Investigation Standards (FAIS). In the last few years, the Board has encountered various financial irregularities at the corporate level in...
The Reserve Bank of India (RBI) has extended the furnishing of the returns under Section 31 of the Act for the financial year ended on March 31, 2020, by a further period of three months...
The Reserve Bank of India (RBI) has directed to make detailed Board approved policy on methodology and periodicity for review/renewal of credit facilities on ad-hoc/short review/renewal of credit facilities of all Scheduled Commercial Banks (excluding...
The Reserve Bank of India (RBI)has clarified issues regarding the applicability of certain aspects contained in the Gazette notification No. S.O. 2119(E) dated June 26, 2020, on new criteria for classifying the enterprises as micro,...
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