REGULATIONS


Moneylife Digital Team 07 November 2019
The Insurance Regulatory and Development Authority of India (IRDA) has asked Reliance Anil Dhirubhai Ambani group (ADAG) company Reliance Health Insurance Ltd transfer its entire portfolio to Reliance General Insurance following sharp reduction in net worth, investments and bank balance in...

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IANS 07 November 2019
An RBI Working Group (WG) on Core Investment Companies (CICs) has recommended corporate groups having specilised non-banking financial companies (NBFCs) to also establish a "Group Risk Management Committee".   According to the RBI's WG formed to "review regulatory and supervisory...

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IANS 06 November 2019
Removing years of slack and frequent allegations of corruption, nepotism and mute spectators in corporate boardrooms, the appointment of independent directors is set for an overhaul from next month with Ministry of Corporate Affairs deciding to conduct examinations for such high-level...

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Moneylife Digital Team 05 November 2019
The Indian financial system's regulatory architecture is complex - both in terms of the sheer number of regulating bodies and also because of their overlapping spheres of concern and influence. Post the PMC Bank scam, there is a need to bring in some changes in co-operative banks through...

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Moneylife Digital Team 04 November 2019
The Reserve Bank of India has revised compensation rules for chief executive officers (CEOs) and whole-time directors (WTDs) and material risk-takers (MRTs) of private banks.    According to the central bank, all the fixed items of compensation, including perquisites and perquisites...

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When Punjab and Maharashtra Cooperative Bank (PMC Bank) scam hit the headlines, the Reserve Bank of India (RBI) appointed JB Bhoria, as the administrator of the scam-hit bank on 23 September 2019. He was the regional director of RBI for Maharashtra and Goa till 2013.    What can one...

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Moneylife Digital Team 01 November 2019
Market regulator SEBI has asked all listed banks to disclose divergences and provisioning beyond specified threshold, as soon as reasonably possible and not later than 24 hours upon receipt of the Reserve Bank of India (RBI)’s final risk assessment report (RAR), instead of waiting to publish...

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Moneylife Digital Team 01 November 2019
The Reserve Bank of India (RBI) on Friday reorganised its regulatory and supervisory departments to make these processes more activity based instead of being segmented in the structure. With this, the central bank has unified six banking, non-banking and cooperative banking departments that...

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Kanakprabha Jethani 31 October 2019
Personal loans by non-banking finance companies (NBFCs) are mostly extended as revolving lines of credit, through the use of online apps. The lender would be happy if there were no regulatory obstacles to provide this line of credit by way of a credit card, or even a virtual credit...

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IANS 30 October 2019
The Reserve Bank of India (RBI) on Tuesday imposed Rs1 crore penalty on Bandhan Bank for non-compliance with promoter holding norms, contained in the licencing guidelines. Under the guidelines, the bank was required to bring down shareholding of its "non-operative financial holding...

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Financial institutions are in disarray due to a serial fraud perpetration, whether commercial banks or cooperative banks. Serious fraud investigations have invariably taken such long time that makes the system forget about the result and consequence of investigation with impunity. Thanks to...

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Jayant Thakur 26 October 2019
New rules notified by the ministry of corporate affairs on 22 October 2019 require independent directors to pass test to demonstrate their knowledge and proficiency in certain areas for board level functioning in corporates. They need to score at least 60% marks in this test to qualify. They...

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IANS 24 October 2019
Global software major Infosys on Thursday said American capital markets regulator Securities and Exchange Commission has initiated a probe into the alleged unethical business practices of Chief Executive Salil Parekh and Chief Financial Officer Nilanjan Roy.   "The Company has been in...

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CS Vinita Nair 23 October 2019
The recent notification issued by ministry of corporate affairs, making it mandatory for independent directors to get listed with a central database, and to qualify under proficiency test, makes a global exception. Sure enough, there is need for sensitisation on things like duties or...

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IANS 23 October 2019
The Securities Exchange and Board of India (SEBI) has moved the Supreme Court against the Securities Appellate Tribunal's decision to quash a two-year ban on international auditing firm Price Waterhouse due to its role in the Satyam Computer Services' fraud case.   On September 9, the...

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IANS 22 October 2019
Nobel laureate Abhijit Banerjee on Tuesday called for reducing the government equity in public sector banks to below 51 per cent to remove the fear psychosis among bankers.   Addressing a press conference here, Banerjee said that fear of investigation by the Central Vigilance...

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IANS 21 October 2019
A few anonymous employees of global software vendor Infosys have accused its Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of unethical practices for many quarters.   "Parekh and Roy have been resorting to unethical practices for many...

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IANS 12 October 2019
US aerospace major Boeing has stripped CEO Dennis Muilenburg of his dual role as Chairman in an unexpected shake-up at the highest ranks of the company amid the prolonged crisis of its 737 MAX aircraft that has been globally grounded following two fatal crashes.   Boeing on Friday...

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On Friday, 11th October, Mumbai Mirror, a local tabloid, published an exclusive report claiming that 200-odd ‘big depositors’ of the failed Punjab and Maharashtra Cooperative Bank (PMC Bank), which had stringent regulatory restrictions imposed on it, have come forward with a bizarre proposal....

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IANS 10 October 2019
The Madras High Court while admitting a Public Interest Litigation (PIL) filed by the Chennai Financial Markets and Accountability (CFMA) in the National Stock Exchange (NSE) co-location case and issued notices to the SEBI, the Ministry of Corporate Affairs (MCA), the CBI, Enforcement...

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