RBI & FEMA
RBI liberalises NPA norms
Further liberalising the prudential norms for the treatment of non-performing assets in the context of ongoing slowdown in the Indian economy, the Reserve Bank of India on Friday said all accounts which were standard accounts on September 1, 2008 would be treated as standard accounts on restructuring provided the restructuring is taken up on or […]
RBI’s Growth Stimulus
Press Release : 2008-2009/842 dtd. 6-Dec-08 PDF Document
Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008
The Reserve Bank of India had issued Directions to the auditors of Non-Banking Financial Companies under Section 45 MA of the RBI Act, 1934, vide Notification No. DFC. 117 /DG (SPT)-98 dated January 2, 1998. The Directions have been consolidated and in supersession of said Directions viz. the Non-Banking Financial Companies Auditor’s Report (Reserve Bank) […]
Reclassification of NBFCs
The Reserve Bank of India (RBI) has issued a Circular mandating all erstwhile EL/HP NBFCs should, duly supported by Statutory Auditors’ Certificate as on March 31, 2008, immediately approach the Regional Office concerned for appropriate classification latest by December 31, 2008 after which NBFCs which have not opted for the classification would be deemed to […]
Summary of Important Recent Circulars from RBI in August 2008
A.P. (DIR Series) Circular No. 5 dated August 6, 2008. Guidelines on trading of Currency Futures in Recognised Stock/New Exchanges This circular permits persons resident in India to participate in the currency futures market in India subject to the RBI guidelines contained in the Currency Futures (Reserve Bank Directions, 2008). The said guidelines are annexed […]
