REGULATIONS


In a notification issued on 30 May 2014, the Ministry of External Affairs-MEA cautions citizens not to fall for fraudulent agents as Passport Offices are the only recognised channels to apply for passport In order to do away with the 'Agent Raj' for passport applications, the Ministry of...

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Shinzani Jain 02 June 2014
Normal reaction of any MP or MLA to a problem, even if economic, is generally that it would be resolved through a legislation. However, whether the legislation can be enforced or not is never analysed, says Dr Bibek Debroy Our laws range from retrograde to obsolete and almost always...

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Abhirup Ghosh 28 May 2014
The RBI is now singing a different tune. NBFCs have to take prior approval from RBI for any merger, amalgamation or even if any entity wants to buy 10% or more stake in the NBFC. This will make NBFCs think thrice before striking a deal involving substantial change in their...

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Moneylife Digital Team 28 May 2014
SEBI said funds raised by Unickon (Unicon) Securities by pledging the securities of its clients/ investors illegally were purportedly diverted to its other businesses   Market regulator Securities and Exchange Board of India (SEBI) has barred Noida-based Unickon Securities Pvt Ltd...

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Moneylife Digital Team 26 May 2014
Ramel Industries and its promoters, directors have also been barred from raising money from public as well as access the capital market till the expiry of three years from the date of completion of refund   Market regulator Securities Exchange Board of India (SEBI) has directed Ramel...

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The launch of polymer currency notes by RBI would be the beginning of the end of fake Indian currency notes entering from Pakistan and other neighbouring countries   While speaking to the press recently, Dr Raghuram Rajan, governor, Reserve Bank of India (RBI), stated that RBI has...

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Moneylife Digital Team 23 May 2014
The Reserve Bank, which was adamant in enforcing biometrics-based Aadhaar on bank customers, has now reportedly asked banks to examine technical difficulties and time frame for the Aadhaar-based payment system, including ATMs and PoS   The Reserve Bank of India (RBI), which was forced...

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Nidhi Bothra 22 May 2014
The new Companies Act has widened the regulations for foreign companies controlled by Indian corporates, putting the latter under increased pressure of compliance    The Companies Act, 2013, consolidated, amended, updated, refurbished and pruned, is bringing new surprises for the...

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VK Sharma 22 May 2014
The NDF market cannot influence the on-shore USD INR market and to that extent the RBI and government must agonise only over effectively enforcing the FEMA regulations   There is quite some compulsive feel, rather than any grounding in logic, to the current hype and hoopla over...

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Moneylife Digital Team 21 May 2014
RBI allowed banks to provide loans with tenures of up to 10 years from existing one year period to exporters to help them ensure capital flows to fulfil long-term contracts   The Reserve Bank of India (RBI) on Wednesday allowed banks to provide loans with tenures of up to 10 years to...

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Moneylife Digital Team 20 May 2014
Transgene Biotek insiders are again playing the game of price manipulation, while market regulator SEBI had no time to either watch unusual price changes or deal with investor complaints   Transgene Biotek Ltd, the company that is been in the news over alleged misuse of global...

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Aditi Jhujhunwala 20 May 2014
How can we rely on a Ministry as arbitrary as MCA, which brings something with a bang and then silently creeps in to correct the same without any indication?   The Ministry of Corporate Affairs (MCA) came up with the finalised rules on Companies Act, 2013 after comments from the...

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Moneylife Digital Team 20 May 2014
SEBI also prohibited Idol India Infrastructures, its promoters and directors from accessing the securities market for raising funds   Market regulator Securities and Exchange Board of India (SEBI) has directed Idol India Infrastructures Ltd, its promoters and directors to refund money...

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With the new Companies Act, the law has become more stringent for private companies than for public companies, especially while appointing directors                                                              Moving from the Companies Act 1956 to the Companies Act 2013 is like...

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Court stops SEBI’s fishing expedition The Securities & Exchange Board of India (SEBI) has been fighting a long battle with telecom operators over its rights, as a regulator, to demand telephone call details of persons being investigated for financial offences. While some telecom...

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Moneylife Digital Team 07 May 2014
RBI has already prohibited banks from charging penalty for prepayment of home loans and now the same has been extended to individual term loans The Reserve Bank of India (RBI), on Wednesday said that banks should allow customers to prepay floating rate term loans without any penalty.

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Moneylife Digital Team 07 May 2014
RBI,  as part of a consumer protection initiative, has asked banks not to levy penalties on customers who don't maintain a minimum balance in any inoperative account The Reserve Bank of India (RBI) on Wednesday directed all banks not to levy penal charges for non-maintenance of minimum...

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Professionals like CAs and CSs can be punished with a fine of Rs 1 lakh-Rs 5 lakh which can even extend to Rs 25 lakh The Satyam scandal of 2009 not only shook the corporate sector but also woke up the government from its deep slumber. The government embarked on an exercise to tighten...

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To avoid costs of compliance, financial institutions in India may decide to filter the US client that they want to be on board. However, the actual impact be realised once RBI, SEBI and other regulators come out with guidelines to ensure compliance with FATCA in their respective domains

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When will a regulator like SEBI be made accountable? After 25 years of existence, does the Securities & Exchange Board of India (SEBI) need to pause and re-examine its attitude to regulation and market development? Not a day passes without SEBI issuing a press release on how it is...

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