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
Latest Circulars »
 RBI releases “Draft Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”
 RBI releases Handbook of Statistics on the Indian Economy 2018-19
 RBI releases the Report of the Committee on the Development of Housing Finance Securitisation Market
 Auction for Sale (Re-issue) of Government Stock (GS) September 09, 20,t9
 Auction of Government of India Dated Securities September 09, 2019
  Master Circular - Disbursement of Government Pension by Agency Banks September 9, 2019
 Shri Dharm Chand, C/o M/s Kissan Agro Properties Khema Khatti Road, Opp. Thakkar Hospital, Fatehabad. Vs. Income-tax Officer, Ward -1, Fatehabad.
 Inder Mohan Khurana, 4/5917, Dev Nagar, Karol Bagh, New Delhi. Vs. ITO, Ward-51(2), Room No.-1411, Civic Centre, New Delhi-110002.
 20th FIMMDA - PDAI Annual Conference (Shri B.P Kanungo, Deputy Governor, Reserve Bank of India - August 31, 2019 - Moscow)
 Exim Bank's Government of India supported Line of Credit of USD 800 million to the Government of the Republic of Maldives
 RBI Makes External Benchmark Based Interest Rate mandatory for certain categories of loans from October 1, 2019

Decrease in Foreign Investment limit/ceiling under the PIS in Indian Companies from 49% to 47% - M/s Ujjivan Financial Services Limited
April, 26th 2017

The Reserve Bank of India has today notified that M/s Ujjivan Financial Services Limited has passed resolutions at the Board of Directors’ level agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/Qualified Foreign Investors (QFIs)/ American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) through primary market and stock exchanges upto 47% of the paid up capital of the company under Portfolio Investment Scheme. Hence FIIs/RFPIs/FDI/QFIs/ADR/GDR/NRIs/PIO investment limit under PIS for M/s Ujjivan Financial Services Limited stands decreased from 49 % to 47%.

Reserve Bank Further advise that M/s Ujjivan Financial Services Limited will continue to remain in the Ban list for FIIs/RFPIs/FDI/QFIs/ ADR/GDR/NRIs/PIO as per Press Release: 2015-2016/2918 dated June 15, 2016.

The Reserve Bank has notified this under FEMA 2000.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2879

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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