Companies are classified into different types based on the structure of the company such as sole proprietorships, partnerships, and corporations. The ownership of a company may belong to the government, private individuals, or foreign entities. The Companies Act 2013 provides several classifications of companies to suit different business needs. The primary types of the companies…
Section 3 (1) (i) of the Companies Act, 1956 defines a company as “a company formed and registered under this Act or an existing company”. In common parlance, a company means an association of two or more persons formed an artificial legal entity for some common object or object such as the economic gain of…
[This post elucidates the eligibility status of Small Companies and the benefits given to small company promoters and directors.] The Companies Act, 2013 (‘Act’) introduced the concept of small companies to provide advantages for small businesses operating as private limited companies. Small companies do not have any separate procedure to obtain registration under the Act.…
In the Statement on Developmental and Regulatory Policies, RBI announced that the cash reserve ratio (CRR) of all banks by 50 bps in two equal tranches of 25 bps each to 4.0 per cent of net demand and time liabilities (NDTL) with effect from the fortnight beginning December 14, 2024, and December 28, 2024, respectively.…
The Reserve Bank of India (RBI) announced its fifth bi-monthly monetary policy for FY25 today, December 6, 2024. The announcement comes amid economic challenges such as lower GDP growth, inflation, and concerns over tight liquidity conditions in the banking system. The RBI’s rate-setting committee (MPC) kept the benchmark key policy rates unchanged, Repo at 6.5%…
The Reserve Bank of India on Tuesday placed on its website that the deepfake videos of the Governor are being circulated on social media that claim the launch of or support for some investment schemes by the RBI. “These videos attempt to advise people to invest their money in such schemes, through the use of…
RBI on a review amended KYC Master Direction on November 06, 2024. “The amendment has been necessitated to (a) align the instructions with the recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 vide Gazette Notification dated July 19, 2024, (b) incorporate instructions in terms of the corrigendum dated…
Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (October 9) announced changes in transaction limits of UPI 123 and UPI Lite wallet. During the Statement on Developmental and Regulatory Policies announcement, Das said that the per-transaction limit for UPI 123Pay will be increased from ₹5,000 to ₹10,000, while the UPI Lite wallet limit…
The Reserve Bank of India (RBI) announced its fourth bi-monthly monetary policy for FY25 today, October 9. The RBI’s rate-setting committee (MPC) kept the benchmark repo rate unchanged at 6.5% for the tenth straight meeting. However, RBI maintains the status quo on policy rates, but changes its stance to Neutral from ‘withdrawal of accommodation’; GDP…
Financial regulators are government agencies responsible for overseeing and regulating financial institutions and markets. The role of regulators of financial sectors encompasses a comprehensive framework of laws, rules, and procedures established by governments and financial authorities. Its essential objectives are to maintain stability and integrity in the financial system, protect consumer interests, and foster fairness…