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Comprehensive measures taken to curb incidence of frauds in Banks
Ministry of Finance Posted On: 27 JUL 2021 As per the information received from RBI, the number of cases of frauds of Rs 500 crore and above reported by Public Sector Banks/ Indian Banks (Except Forei...
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Positive Pay System – RBI pleads ignorance about compliance by Banks in India
RBI pleads ignorance about compliance of ‘Positive Pay System for Cheque Truncation System’ by all banks as per its own directive issued under Section 10(2) read with Section 18 of Payment and Settlem...
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Drastic changes in FCRA & rules relating to Charitable Trusts/NGOs causing undue hardship
Mumbai BJP Professional Cell has written a letter to Shri Amit Shah Ji and requested to lookint0 Drastic changes made in FCRA and related rules relating to Charitable and Religious Trusts (Trusts/NGOs...
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Representation to RBI on Appointment of Statutory Central Auditors
Representation to the Reserve Bank of India on Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including...
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Suresh Prabhu requests FM for positive policy for MSME & small business
BJP MP Suresh Prabhu has Wrote a letter to Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs regarding concerns of the MSMEs faced due to the second wave of Covid-19 pandemic an...
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FCRA registration certificates validity extended up to 30.09.2021
Extension of Validity of Registration Certificates issued under The Foreign Contribution (Regulation) Act, (FCRA) 2010 Expiring/Expired during period between 29.09.2020 and 30.09.2021 The Ministry of...
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Time period of realisation of Export Proceeds under FEMA
FEMA UPDATE > Temporary relaxation in time period of realisation of Export Proceeds- – The Government of India as well as the Reserve Bank has been receiving representations from Exporters Trade bodie...
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Writ filed against Not allowing erstwhile Allahabad bank auditors to continue
Chartered Accountants Association Vs Reserve Bank of India (Delhi High Court) 1. Chartered Accountants Association filed writ against Indian Bank for not allotting Statutory Audit for Financial Year 2...
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Necessity of a new Press Note replacing Press Note No. 2 of FDI Policy 2016/2018
Confederation of All India Traders (CAIT) ”Vyapar Bhawan” 925/1, Naiwaia, Karol Bagh, New Delhi-11000.5. Phone: +91-11-45032664, Telefax: +91-11-45032665 Email: teamcait@gmail.com Website; www.cait.in...
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FDI equity inflow grew by 40% in first 9 months of F.Y. 2020-21
Ministry of Commerce & Industry India attracted total FDI inflow of US$ 67.54 billion during April to December 2020; FDI equity inflow grew by 40% in the first 9 months of F.Y. 2020-21 (US$ 51.47 bill...
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Embargo lifted on grant of Government Business to Private Banks
Ministry of Finance Posted On: 24 FEB 2021 5:10PM by PIB Delhi The Government has lifted the embargo on private sector banks (only a few were permitted earlier) for the conduct of Government-related b...
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FCRA Charter For Chartered Accountants
Charter For The Chartered Accountants Since the Foreign Contribution (Regulation) Act, 2010 (FCRA, 2010) is dealing with national security, associations are required to exercise extreme care and cauti...
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FDI Limit in Insurance Sector Increased from 49% to 74%
Ministry of Finance FDI LIMIT IN INSURANCE SECTOR INCREASED FROM 49% TO 74% AND FOREIGN OWNERSHIP AND CONTROL ALLOWED WITH SAFEGUARDS ASSET RECONSTRUCTION COMPANY LIMITED AND ASSET MANAGEMENT COMPANY...
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Charter for Associations Applying for Prior Permission/Registration under FCRA, 2010
CHARTER FOR ASSOCIATIONS APPLYING FOR GRANT OF PRIOR PERMISSION /REGISTRATION UNDER THE FOREIGN CONTRIBUTION (REGULATION) ACT, 2010. ♣ With a view to streamlining the procedures and ensuring effective...
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Charter for Associations Registration Under FCRA
CHARTER FOR ASSOCIATIONS WHO HAVE BEEN GRANTED PRIOR PERMISSION OR REGISTRATION UNDER FCRA. ♣ Registration and Prior Permission is granted for a definite cultural, economic, educational, religious or...
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FCRA Charter for the Banks
The Foreign Contribution (Regulation) Act, 2010 (FCRA, 2010) assigns a very crucial role to banks. All foreign contributions (FCs) received from any ‘foreign source’ (FS) must be necessarily received...
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Relaxations for Listed Companies in respect of General Meting through Virtual mode- Extended till 31.12.2021
Securities and Exchange Board of India (SEBI) has issued circular no. SEBI/HO/CFD/CMD2/CIR /P/2021/11 dated January 15, 2021 regarding relaxation from compliance with certain provisions of the SEBI (L...
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Norms for empanelment of Statutory Branch Auditors in PSB
RBI releases on its website Norms for selection of branches of Public Sector Banks (PSBs) for Statutory Audit, Procedure for appointment of Statutory Branch Auditors, General guidelines applicable to...
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RBI Committee Recommends Conversion of Large NBFCs into Banks & Entry of Corporates
In a series of recommended proposals, an internal working group (IWG) of the Indian Central Bank (Reserve bank of India) has suggested increasing the existing cap on stake owned by corporate houses in...
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Cabinet approves Amalgamation Scheme of Lakshmi Vilas Bank with DBS Bank
Ministry of FinanceCabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India LimitedPosted On: 25 NOV 2020 3:35PM by PIB DelhiThe Union Cabinet, chaired by the Prime Minister,...