Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: VAT RATES :: cpt :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: empanelment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Latest Circulars »
  Discussions on Labour Laws & International Taxation (OTHERS)
 RBI-Ombudsman Scheme for Non-Banking Financial Companies, 2018 - Appointment of the Nodal Officer/Principal Nodal Officer
 Minutes of the Monetary Policy Committee Meeting February 6-7, 2018
 RBI’s statement on fraud in Punjab National Bank
 RBI-Auction of State Government Securities Feb 15, 2018
 RBI new bad loan rules may improve prospects of loan recovery
 RBI-Resolution of Stressed Assets – Revised Framework
 RBI-Monthly Bulletin for February 2018
 Addendum to the Report of the Internal Study Group to Review the Working of the Marginal Cost of Funds Based Lending Rate System: Some Reflections on the Feedback Received
 Levy of Penal Interest – Delayed Reporting (Corrected)
 Report of the Inter-Regulatory Working Group on FinTech and Digital Banking

RRB/RCB- FCNR(B)/NRE deposits Exemption from maintenance of CRR/SLR and Exclusion from Outstanding Advances for Priority Sector Lending for RRBs
February, 13th 2014

RBI/2013-14/486
RPCD.CO.RRB/RCB.BC.No.83/03.05.33/2013-14

February 11, 2014

All Regional Rural Banks/
State and Central Cooperative Banks

Dear Sir/Madam,

Section 42(1) of the Reserve Bank of India Act, 1934, Section 24 of Banking Regulation Act 1949 and Section 18 and  24 of the Banking Regulation Act, 1949 (AACS) – FCNR(B)/NRE deposits – Exemption from maintenance of CRR/SLR and Exclusion from Outstanding Advances for Priority Sector Lending for RRBs

Please refer to our circular RPCD.CO.RRB/RCB.BC.No.20/03.05.33/2013-14 dated August 19, 2013, on the captioned subject, wherein banks were advised that with effect from fortnight beginning August 24, 2013, incremental FCNR (B) deposits as also NRE deposits with reference base date of July 26, 2013, and having maturity of three years and above, mobilised by them will be exempt from maintenance of CRR and SLR. Further, advances extended against such incremental FCNR(B)/NRE deposits qualifying for exemption from CRR/SLR requirements will also be excluded from Outstanding Advances for computation of priority sector lending targets for Regional Rural Banks.

2. On a review, and in order to give banks some time, it has been decided that the exemption granted on incremental FCNR (B)/NRE deposits from maintenance of CRR/SLR will be withdrawn with effect from reporting fortnight beginning March 8, 2014, i.e., only the eligible amount of incremental FCNR (B) and NRE deposits of maturities of three years and above from the base date of July 26, 2013, and outstanding as on March 7, 2014, would qualify for CRR/SLR exemption till their maturities/ pre-mature withdrawals.

3. Further, advances extended against the above mentioned   incremental  FCNR(B)/NRE deposits, qualifying for exemption from CRR/SLR requirements, will be eligible for  exclusion  from Outstanding Advances, till their repayment, for computation of priority sector lending targets for Regional Rural Banks.

4. Please acknowledge receipt to our Regional Office concerned.

Yours faithfully,

(A.Udgata)
Principal Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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