The Reserve Bank of India(RBI) revised guidelines for NBFC factor companies stipulating that there should be board approved limit for underwriting commitments with a view to mitigate credit risk. Besides, the RBI has also raised a threshold for reporting of frauds from Rs 25 lakh to Rs 1 crore for Non-banking Financial Company (NBFC). “Factoring … Read More →
Markets regulator Sebi today allowed foreign portfolio investors to invest in newly launched products — REITs, InvITs and AIFs — and also permitted them to acquire corporate bonds under default. All the investments by Foreign Portfolio Investors (FPIs) in such bonds should be within the overall limit of Rs 244,323 crore for foreign investment in … Read More →
The Reserve Bank of India (RBI) has asked banks to pay interest on savings banks account on a quarterly basis or shorter duration, a move which will benefit crores of savings account holders. At present, the interest is credited to savings bank account on a half-yearly basis. The interest rate on savings bank account is … Read More →
For the last few years, the Securities Exchange Board of India (Sebi) has been coming down hard on companies running collective investment schemes (CIS). These schemes, much in the news since the Saradha scam, are those in which people invest to create a pool of money which is then utilised to realise some income for … Read More →
To help investors get a clearer picture on their returns, markets regulator Sebi plans to encourage listed companies to put in place their own dividend distribution policies. The proposal forms part of Sebi’s Plan of Action for the next fiscal, beginning next month, which was approved by the regulator’s board this weekend. The capital market … Read More →
Cracking the whip on fraudulent activities, Sebi on Tuesday barred stock broker Unickon Securities and 18 other entities from the capital market for 10 years. Unickon Securities has been restrained for alleged fraudulent transfer of clients’ securities to group entities of Unickon Financial Intermediaries and other violations of capital market regulations. In its 69-page order, … Read More →
The Companies (Amendment) Act 2002 vides notification no. S.O. 135 (E) inserted part IX – A of the Companies Act, 1956 ( hereinafter referred to as “the Act” ) and presented the idea of Producer Company[1]. In the year 2002 a specialist committee drove by noted economist Y.K Alagh framed legislation for incorporation of a … Read More →
Full Fledge Money Changer License In India (FFMC) Any company which aim to do a forex currency exchange activity or cash changing activity in India need to acquire a Full Fledged Money Changer License from Reserve Bank of India. Reserve Bank of India yearly distributes rules for Full Fledged Money Changer’s vide an master circular … Read More →
Foreigners who bring FDI might get long term visa or residency permit as the alternative is being explored by the government to make travel simple for businessmen as a major aspect of the ‘Make In India’ crusade. The Finance Ministry and the Home Ministry’s foreigners division are thinking whether India can offer long term visa … Read More →
With an expect to advance simplicity of doing business, the Reserve Bank recently turned out with nine overhauled regulations under the Foreign Exchange Management Act (FEMA), 1999. Therefore, RBI said, respective original notifications and subsequent amendments stand repealed. “Keeping in perspective the target of advancing ease of doing business, a need was felt to solidify … Read More →