The following article examines the implications of Paragraph 26(a)1of the Master Direction – Core Investment Companies (Reserve Bank) Directions, 2016 (“CIC Master Directions”), but before delving into the specifics, it may be worthwhile to discuss in brief the concepts of AIF and CIC. Wha...
RBI seeks public comments on master circular on FDISANJAY DIXITPrint this
The circular says that scheduled commercial banks (private, foreign and nationalized banks listed in the schedule of RBI Act, 1934) must proactively create or modify their policies, procedures and technologies based on new security developments and concerns. RBI Circular dated June 2, 2016 on "...
Bank accounts of PEPs have additional KYC norms under the current provisions and special due diligence has to be undertaken by a senior bank official.A sub-clause in the master direction in KYC norms issued by way of a circular on February 25, 2016 has been removed by the central bank. T...
2.2 Cases of `negligence and cash shortages' and `irregularities in foreign exchange transactions' referred to in items (d) and (f) above are to be reported as fraud if the intention to cheat / defraud is suspected / proved. However, the following cases...
. However, structuring an AIF to invest predominantly or exclusively in entities within the same group raises concerns regarding compliance with SEBI’s regulatory framework, particularly its diversification. SEBI imposes strict investment concentration limits, as outlined in one of its Circular3....
RBI/2011-12/2 Master Circular No
The circular says that scheduled commercial banks (private, foreign and nationalized banks listed in the schedule of RBI Act, 1934) must proactively create or modify their policies, procedures and technologies based on new security developments and concerns. RBI Circular dated June 2, 2016 on "...
Master Circular for Operations of Primary Dealers ContentsThe applicant shall have net owned funds of a minimum of Rs. 50 crore. The owned funds will consist of paid-up equity capital, free reserves, balance in share premium account and capital reserves representing surplus arising out of sale ...
Banks should adopt adequate safeguards and implement the following guidelines in order to ensure that their credit card operations are run on sound, prudent and customer friendly manner.Ashadha