Tag: Banking and finance
RBI releases prudential norms for urban banks
The RBI has released a Master Circular on Prudential Norms for Capital Adequacy in Primary Co-operative Banks, which consolidates and updates all the instructions and guidelines on the subject issued up to 19 April 2023
Indochine Counsel secures veteran lawyer from Tilleke & Gibbins
After spending 12 years, including more than five as a partner, at Tilleke & Gibbins, Ho Chi Minh City-based corporate and commercial lawyer Nguyen Quoc Vinh joins Indochine Counsel as a senior counsel
SNG & Partners promotes lawyers in five practice areas
SNG & Partners has promoted Soumyajit Mitra, Subrata Mukherjee and Aditya Vikram Dua to partner, and Sweta Mehta, Samreen Paloba, Rashmi Raveendran and Jahnavi Dwarkadas are now associate partners
Legal firms step up the game with scores of promotions
Multiple firms have announced the advancement of talent among their various practice groups during April when annual promotions are made for the new fiscal year
Stressed assets discussion
The RBI is seeking public comment on a discussion paper on the Securitisation of Stressed Asset Framework (SSAF)
RBI told to report daily on foreign remittances
The Ministry of Home Affairs has mandated the State Bank of India (SBI) to report daily reporting on all details of overseas donors, including the purpose of remittances
Crypto assets brought under anti-money laundering law
The government will add virtual assets to the Prevention of Money Laundering Act in a major step towards regulating the cryptocurrency market in India
New practices steer Helmsman into full service
Singapore-headquartered law firm Helmsman has established new practice groups – commercial disputes, employment, and corporate, banking and finance
Framework for cross-border settlement in rupees
The Reserve Bank of India (RBI) has announced an extensive mechanism to accelerate cross-border trade settlements in Indian rupees (INR) in a move to bolster trade in the Indian currency
Sustainable financial management push
In a move that aligns with global climate risk mitigation, the RBI has asked banks in the country to promote sustainable financial management and embed ESG policies across their lending portfolio
RBI announces forex inflow measures to curb risk
The Reserve Bank of India (RBI) issued notifications covering a range of foreign investment options to increase foreign exchange inflows in response to a weakening rupee and a tightening of global financial conditions
New tax provision for digital assets
The Finance Act 2022 has inserted a new section in the Income-tax Act, 1961, under which a person responsible for paying to any resident for the transfer of a virtual digital assets (VDAs) will be able to deduct 1% of the paid amount from his or her income tax
RBI extends card tokenisation deadline
The Reserve Bank of India (RBI) has extended the deadline for card-on-file (CoF) tokenisation from 30 June to 30 September 2022, citing implementation issues highlighted by merchants
Dhir & Dhir advises new lenders in Suzlon’s USD513.5m loan
The Rural Electrification Corporation (REC) and the Indian Renewable Energy Development Agency (IREDA) became the new lenders in the refinancing of wind turbine
Jindal Steel Odisha taps SBI for USD1.99bn project financing
Jindal Steel & Power’s subsidiary, Jindal Steel Odisha, has secured a loan from the State Bank of India (SBI) for INR157.27 billion (USD1.99 billion)
Hylands BJ headquarters appoints five partners
Hylands has appointed Tian Dapeng, Yin Yue, Cai Yuee, Lu Bing and Wang Yuan as partners at the firm’s Beijing headquarters
William & Hendrik and Siregar & Djojonegoro merge
Two Indonesian law firms William & Hendrik and Siregar & Djojonegoro have merged into William Hendrik & Siregar Djojonegoro (WH&SD)
Allen & Gledhill brings Phuong home to Vietnam
Phuong Tran has joined Allen & Gledhill as a partner in Ho Chi Minh City
