Levy of Foreclosure Charges or Pre-payment Penalty on Floating Rate Term Loans
The Reserve Bank of India (RBI) on August 2, 2019 notifies certain clarifications regarding the Levy of Foreclosure Charges or Pre-payment Penalty on Floating Rate Term Loans. RBI, previously in year 2012 and 2014 vide its notification disallowed charging of foreclosure charges or pre-payment penalties on all floating rate term loans sanctioned to individual borrowers by […]
BIS Certification for Pashmina’s Authenticity
The Bureau of Indian Standards (BIS) on August 2, 2019, decided to assign an Indian Standard for certifying the purity of Pashmina products. The step has been taken to scrap the mislabeled and adulterated Pashmina products in the market and to safeguard the interest of local artisans and nomads. This will curb malpractices and will […]
SEBI automated SCORE authentication process
On 2nd August, 2019 Securities Exchange Board of India by its Circular SEBI/HO/OIAE/IGRD/CIR/P/2019/86 has made partial modification to the Circular No. CIR/OIAE/1/2014 dated December 18, 2014 for streamlining issuance of SCORES authentication for SEBI registered intermediaries. As per the previous circular dated December 18, 2014 all listed companies and SEBI registered intermediaries (excluding Stock Brokers […]
RBI Libralises norms for ECBs by Corporates and NBFCs
The Reserve Bank of India (RBI) on July 30, 2019, has decided to ease norms relating to External Commercial Borrowings (ECB) for Corporates and NBFCs. This liberalization will allow borrowers to raise ECBs from recognized lenders, except foreign branches or overseas subsidiaries of Indian banks. With this relaxation, ECBs can be raised with a minimum […]
