RBI curtails Banks/FIs ever greening investment in AIFs
RBI on Tuesday said that Regulated entities (REs) like Banks/FIs make investments in units of AIFs as part of their regular investment operations. However, it added that certain transactions of REs involving AIFs that raise regulatory concerns have come to their notice. The full form of AIF is the Alternate Investment Fund. AIF means any…
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Sovereign Gold Bond Scheme opens for public subscription on December 18, 2023
The Sovereign Gold Bond Scheme 2023-24 – Series II will be open for subscription from December 18, 2023. The Subscription of the Gold Bonds under this Scheme shall be open (Monday to Friday) on the dates specified above, provided that the Central Government may, with prior notice, close the Scheme at any time before the…
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Can’t reopen I-T cases below Rs.50 lakh after 3 years: Delhi High Court
The Delhi High Court on Monday in its ruling held that the extended 10-year review period for Income (I-T) assessments should only be applied when the assessee’s alleged undisclosed income exceeds Rs 50 lakh. Responding to a bunch of writ petitions, for the financial years 2015-16 and 2016-17, the bench of Justice Rajiv Shakdher and…
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Cheque Bounce: Is it necessary to make unregistered firm an accused?
People have doubt whether an unregistered Partnership Firm can also be brought within the purview of Section 141 of the Negotiable Instruments Act, and in such cases, whether the Partnership Firm must be made as an accused along with the other partners, in order to maintain a complaint for an offence under Section 138 of…
Read article IBC Resolution Plan Can’t Ignore Government Dues: Supreme Court Dismisses batch of Review Petitions
The Supreme Court on Tuesday (October 31) dismissed a batch of review petitions filed against a 2022 judgment which held that the definition of a secured creditor under the Insolvency and Bankruptcy Code (IBC) 2016 included any government or governmental authority and that a resolution plan which ignored dues to the government was liable to…
Send alerts to customers when their credit information report is accessed: RBI directs CICs and lenders
The Reserve Bank of India (RBI) has issued directives to Credit Information Companies (CICs) to promptly notify clients through SMS or email whenever banks or Non-banking Financing Companies (NBFCs) access their Credit Information Report (CIR). “This move is aimed at fostering transparency and keeping customers informed about the usage of their credit information” it said.…
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