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Some Important Relief Measures in view of COVID-19

April 4, 2020
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance on 31.03.2020 which provides for extension of various time limits under the Taxation and Benami Acts.

ECB for startups to be allowed

[Source:] Overseas loans at lower rates may help start-ups stay afloat In a bid to give a further impetus to the growing start-up ecosystem in the country, the RBI has allowed them to raise up to $3 million a year through external commercial borrowings (ECBs). In his first Monetary

Symbol for Rupee in final lap

December 18, 2009
Panel shortlists five candidates, decision on winning entry in January. The long wait for a symbol of the rupee is expected to end by March next year. A committee headed by Reserve Bank of India (RBI) Deputy Governor Usha Thorat has shortlisted five symbols from 4,000 entries for a public

RBI’s special interest rate for exporters till Oct 31

May 4, 2009
RBI Notification.pdf Providing relief to exporters hit by shrinking global demand, the Reserve Bank on Tuesday extended the concessional interest rate scheme by six months till October this year. The ceiling of interest rate on pre-shipment rupee export credit up to 270 days and post-shipment credit up to 180 days

RBI liberalises NPA norms

January 27, 2009
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

Reclassification of NBFCs

September 27, 2008
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