Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: empanelment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ACCOUNTING STANDARD :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: form 3cd :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: TDS
 
 
« Latest Circulars »
 RBI imposes penalty on Janata Urban Co-operative Bank Ltd., Wai, District Satara
 Monitoring of Foreign Investment under PIS in Indian Companies- Incorporation in Ban List–M/s HDFC Bank Ltd.
 Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
 Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
 RBI-Foreign Investments in India
  RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
  Finance Minister meets the Directors of the RBI Central Board
  RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts
 Government of India nominates Dr. Rajiv Kumar, Dr. Ashok Gulati and Shri Manish Sabharwal on RBI Central Board
 RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
 RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts

Ready Forward Contracts in Corporate Debt Securities- Permitting Scheduled UCBs
October, 31st 2012

RBI/2012-13/270
IDMD.PCD. 1423/14.03.02/2012-13

October 30, 2012

To All Market Participants

Ready Forward Contracts in Corporate Debt Securities - Permitting Scheduled Urban Cooperative Banks

A reference is invited to our circular IDMD.DOD.05/11.08.38/2009-10 dated January 08, 2010 enclosing the Repo in Corporate Debt Securities (Reserve Bank) Directions, 2010. As indicated under paragraph 4 of the Directions, the following entities are eligible to enter into ready forward contracts in corporate debt securities:

  1. Any scheduled commercial bank excluding RRBs and LABs;

  2. Any Primary Dealer authorized by the Reserve Bank of India;

  3. Any non-banking financial company registered with the Reserve Bank of India (other than Government companies as defined in section 617 of the Companies Act, 1956);

  4. All-India Financial Institutions, namely, Exim Bank, NABARD, NHB and SIDBI;

  5. Other regulated entities, subject to the approval of the regulators concerned, viz.,

    i. Any mutual fund registered with the Securities and Exchange Board of India;

    ii. Any housing finance company registered with the National Housing Bank; and

    iii. Any insurance company registered with the Insurance Regulatory and Development Authority

  6. Any other entity specifically permitted by Reserve Bank

2. As announced in the Second Quarter Review of the Monetary Policy Statement 2012-13 (para 77) and in exercise of powers conferred on Reserve Bank under the Repo in Corporate Debt Securities (Reserve Bank) Directions 2010, it has now been decided to permit scheduled Urban Cooperative Banks to undertake ready forward contracts in corporate debt securities subject to adherence to conditions prescribed by Urban Banks Department, Central Office, Reserve Bank of India, from time-to-time.

3. All other terms and conditions of the notifications issued vide circulars IDMD.DOD.05/11.08.38/2009-10 dated January 8, 2010and IDMD.PCD. 22/11.08.38/2010-11 dated November 9, 2010 shall remain unchanged.

Yours faithfully,

(K. K. Vohra)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions