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: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARDS :: VAT Audit :: articles on VAT and GST in India
 
 
« Latest Circulars »
 RBI to conduct 7 day Variable rate Reverse Repo auctions under LAF on August 21, 2017
 Resolution of Stressed Assets: Towards the Endgame (Urjit R. Patel, Governor - August 19, 2017 - Inaugural Session of the “National Conference on Insolvency and Bankruptcy: Changing Paradigm”, Mumbai)
 Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL)
  Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI-Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs)
 RBI-Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18
 Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI releases Data on India’s International Trade in Services: June 2017
 RBI-Reserve Bank Commercial Paper Directions, 2017
  RBI announces OMO Sale of Government of India Dated Securities
 Risk Management and Interbank Dealings- Reports to the Reserve Bank

RBI-Interest Rates on FCNR(B) Deposits AD Category 1 UCBs
August, 22nd 2013

RBI/2013-14/195
UBD.BPD.AD.CIR.No. 2/13.01.000/2013-14

August 21, 2013

The Chief Executive Officers
All AD Category -1 UCBs

Dear Sir/Madam,

Interest Rates on FCNR(B) Deposits

Please refer to our circular No. UBD.BPD.AD.CIR.No.7/13.01.000/2011-12 dated May 17, 2012 on Interest Rates on Deposits held in FCNR(B) Accounts. In view of the prevailing market conditions, it has been decided that with effect from the close of business in India as on August 14, 2013, the interest rate ceiling on FCNR(B) Deposits will be as under -

Maturity Period

Existing

Revised

1 year to less than 3 years

LIBOR/Swap plus 200 basis points

No change

3 - 5 years

LIBOR/Swap plus 300 basis points

LIBOR/ SWAP plus 400 basis points

On floating rate deposits, interest shall be paid within the ceiling of swap rates for the respective currency/maturity plus 200 bps/ 400 bps as the case may be. For floating rate deposits, the interest reset period shall be six months.

2. All other instructions in this regard, as amended from time to time, will remain unchanged.

3. These instructions will be valid up to November 30, 2013, subject to review.

4. An amending directive UBD.BPD.DIR.No.1/13.01.000/2013-14 dated August 21, 2013 is enclosed.

Yours faithfully,

(A.K.Bera)
Principal Chief General Manager

Encls: One


UBD.BPD.DIR.No. 1/13.01.000/2013-14

August 21, 2013

Interest Rates on FCNR(B) Deposits

In exercise of the powers conferred by Section 35A, read with Section 56 of the Banking Regulation Act, 1949, and in modification of the directive UBD.BPD.DIR.No.8/13.01.000/2011-12 dated May 17, 2012 on Interest Rates on FCNR(B) Deposits, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that with effect from the close of business in India as on August 14, 2013 the interest rate ceiling on FCNR(B) deposits shall be as under:

Maturity Period

Existing

Revised

1 year to less than 3 years

LIBOR/Swap plus 200 basis points

No change

3 - 5 years

LIBOR/Swap plus 300 basis points

LIBOR/ SWAP plus 400 basis points

On floating rate deposits, interest shall be paid within the ceiling of swap rates for the respective currency/maturity plus 200 bps/ 400 bps as the case may be. For floating rate deposits, the interest reset period shall be six months.

These instructions will be valid up to November 30, 2013, subject to review.

(S. Karuppasamy)
Executive Director

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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