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: empanelment :: list of goods taxed at 4% :: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Latest Circulars »
  RBI announces auction of a 15-days Government of India Cash Management Bill
 Auction of Government of India Dated Securities April 24, 2017
 RBI- Compliance with Ghosh Committee Recommendations
 RBI announces auction of a 15-days Government of India Cash Management Bill
  Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Amended
 Minutes of the Monetary Policy Committee Meeting April 5-6, 2017
 Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Amended
 RBI-Professor Willem H. Buiter, Global Chief Economist, Citigroup, delivers the Sixteenth C.D. Deshmukh Memorial Lecture titled ‘The Good and the Bad Fiscal Theory of the Price Level’
 RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: January – March 2017 (Round 37)
 RBI-Exim Bank's Government of India supported Line of Credit of USD 31.29 million to the Government of the Republic of Nicaragua
 RBI-Grant of ‘Certificate of Registration’ – For carrying on the business of credit information – Transunion CIBIL Limited

RBI-Financial Benchmarks India Pvt. Ltd.(FBIL)- Benchmark Administrator
July, 02nd 2015

RBI/2015-16/115
FMRD.FMSD.No.03/03.01.006/2015-16

July 02, 2015

All market participants

Dear Sir/Madam,

Financial Benchmarks India Pvt. Ltd.(FBIL)- Benchmark Administrator

Please refer to our circular FMD.FSRG.No.102/02.18.002/2013-14 dated April 16, 2014 on “Financial Benchmark- Governance Framework for Benchmark Submitters” wherein it was stated that in order to overcome the possible conflicts of interest in the benchmark setting process arising out of the current governance structure of the Fixed Income Money Market and Derivative Association of India (FIMMDA) and Foreign Exchange Dealers’ Association of India (FEDAI) an independent body will be formed, either separately or jointly, by the FIMMDA and the FEDAI for administration of the benchmarks.

2. An independent company named ‘Financial Benchmarks India Pvt. Ltd.(FBIL), jointly floated by the FIMMDA, the FEDAI and the IBA has since been incorporated. The FBIL will act as an independent benchmark administrator and gradually take over the benchmarks currently being disseminated by other agencies.

3. FBIL has since announced taking over the administration of the benchmark for the overnight inter-bank rate to be based on the actual traded rate from July 22, 2015, replacing the existing “FIMMDA-NSE Overnight MIBID/MIBOR” by “FBIL- Overnight MIBOR”. FBIL proposes to take over administration of foreign exchange benchmarks and other Indian Rupee interest rate benchmarks over a period of time in consultation with the stakeholders. FIMMDA and FEDAI would continue to act as administrators for these Rupee interest rate and foreign exchange benchmarks respectively till they are shifted to the FBIL.

Yours faithfully

(R. Subramanian)
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.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

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