Banks can take advantage of the IBC to easy up their balance
The Reserve Bank of India has suggested banks to report for insolvency complaints on their very own rather than watching for its commands.
Search Results for: due diligence by the Banks
Requirement of customer due diligence
RBI has directed that operation in dormant accounts with banks may be allowed after due diligence as per risk category of the customer. As stated therein, ‘due diligence’ would mean ensuring genuineness of the transaction, verification of the signature and identity etc. Please refer the attached circular for further details. Source: www.rbi.org.in RBI- Requirement of … Continue reading “Requirement of customer due diligence”
Criminal Liability in Subvention Scheme !!!
The criminal liabilities that may be invoked in a subvention scheme may vary depending upon the facts and circumstances of each case.
CRYPTOCURRENCY REGULATION IN INDIA NAVIGATING LEGAL UNCERTAINTIES IN THE DIGITAL ECONOMY
In recent years, the rise of cryptocurrencies has sparked a global frenzy of excitement and speculation, presenting both opportunities and challenges for regulators seeking to adapt to the rapidly evolving landscape of the digital economy.
Unveiling the Shadows: Understanding Money Laundering
Money laundering, a clandestine financial process that often involves dirty money being transformed into clean assets, poses a significant challenge to the global economy.
Effects of GSTN under PMLA Act
The integration of GSTN with the PMLA would make it easier for different authorities to work together, which is essential for preventing money laundering and maintaining the integrity of the GST system.
Unveiling The Dark Side of Subvention Scheme
Subvention schemes, brings to light incidents of harassment, and analyses how fraud continues to exist in the market despite regulatory interventions such as the NHB decision to end subvention schemes.
Subvention Scheme: A Crisis for Homebuyers
A subvention scheme may end up to be a double-barreled if the developer fails to deliver the project on time, the burden of both rent and EMI will must be borne by the homebuyer.
Relief for Creditors: Time taken under SARFAESI to be Excluded for Limitation Act
Order deliverd by NCLAT is a relief for creditors to invoke the jurisdiction of IBC and seek appropriate redressal for their long-awaited grievances against the debtor.
Stress Funds: A lifeline for stopped Project
Real sector is backbone of economy; hence Government is doing every best either in way to introduce new laws or new AIF funds. We advice to make best of this opportunity.
Your Bank Account Would Be Blocked, If Not Self-Certified Before April 30
Bank accounts opened between July 1, 2014 and August 31, 2015 need to submit self-certification by April 30 to comply with FATCA.
Link Your Aadhar with Your Bank Account by 30th April
Accounts opened from July 2014 to August, 2015 will have to submit know your customer (KYC) details and their Aadhaar number to banks.
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