Bangaloreans like to be in good spirits and while getting a reservation at the restaurant of their choice can be simple, what is difficult to foretell is whether their signature drink will be available at the bar.

World Bank in a new report has ranked all BJP ruled states as the best places to do business in India. Telangana and Andhra Pradesh – top the rankings. All other states in the top ten, barring Uttarakhand which occupies the ninth place in the rankings, are ruled by the BJP. The Congress and regional party ruled states seem … Continue reading “BJP ruled states -top the World Bank’s rankings”

Vide the Companies (Incorporation) Amendment Fifth Rules, 2016 dated 29th December 2016, INC-2 is deprecated and INC-7 shall be used for incorporating Part I Companies and companies with more than seven subscribers only. The revised INC-7 shall be made available on the portal for filing purposes w.e.f 15th January 2017. For incorporating OPCs and Companies … Continue reading “INC-7 form withdrawl for incorporating OPC and Companies with up to Seven Subscribers”

aking into account the withdrawal of the incremental CRR effective from the fortnight beginning December 10, 2016 and with a view to provide flexibility to the banking system for its liquidity management, the Reserve Bank of India has decided to conduct Fixed Rate Reverse Repo operationon December 10, 2016 (Saturday) between 11.00 am and 12.00 … Continue reading “Fixed Rate Reverse Repo Operation on Saturday, December 10, 2016”

Reviewing the current liquidity conditions after the withdrawal of legal tender status of ₹ 500/- and ₹ 1000/- denominations of bank notes issued by the Reserve Bank of India till November 8, 2016 (SBN), RBI has decided to issue a directive under section 42(1A) of the Reserve Bank of India Act, 1934 requiring all Scheduled … Continue reading “Requirement for maintaining additional CRR”

RBI vide its circular dated November 08, 2016 has specified all the banks to send daily report to RBI with details of Specified Bank Notes (SBNs). However, RBI has observed that the banks are sending the reports with significant delay causing severe inconvenience in collation and consolidation of data at RBI. Therefore, the banks are … Continue reading “Delay in daily reporting of banks to RBI”

Considering the significant increase in banking network during the recent past and the large jurisdiction being covered by the present Office of the Banking Ombudsman, New Delhi, the Reserve Bank has set up the second office of the Banking Ombudsman at Reserve Bank of India, New Delhi. The first office of the Banking Ombudsman at … Continue reading “RBI opens second Office of the Banking Ombudsman at New Delhi”