Acquisory News Bytes - 12th June 2019
0 likes122 views
CORPORATE UPDATES *INDEPENDENT DIRECTORS MAY HAVE TO CLEAR EXAMS BEFORE APPOINTMENT ON BOARD RBI UPDATES *WAIVER OF RTGS AND NEFT CHARGES *OMO PURCHASE OF GOVERNMENT SECURITIES *COMMITTEE FOR ATM INTERCHANGE FEE STRUCTURE NOTIFIED read more at: http://www.acquisory.com/Newsletter
More Related Content
What's hot (8)
Similar to Acquisory News Bytes - 12th June 2019 (20)
Recently uploaded (20)
Acquisory News Bytes - 12th June 2019
- 1. www.acquisory.com 11 - 12 June-2019 CORPORATE UPDATES ? INDEPENDENT DIRECTORS MAY HAVE TO CLEAR EXAMS BEFORE APPOINTMENT ON BOARD In the light of recent irregularities which have surfaced in the corporate sector, the independent directors may soon have to clear an exam before they are appointed on the Board. This move will be initiated with the objective to propagate corporate literacy amongst the directors and to make them aware of their duties, roles and responsibilities. The following are certain features which are expected w.r.t. such exams: ? It will be online, covering topics related to corporate laws, ethics, capital market norms and other areas. ? A fixed time frame within which the aspiring Directors must attempt all the questions. ? Unlimited number of attempts for Directors to clear the exam. Experienced directors who have been on the Board for several years will be exempt from such test, however they will be required to register themselves on the portal which the Government is preparing. https://economictimes.indiatimes.com/news/ company/corporate-trends/company-directors- will-have-to-sit-for-exams-in-india-after- scandals/articleshow/69750946.cms RBI UPDATES ? WAIVER OF RTGS AND NEFT CHARGES RBI in their Statement of Development and Regulatory Policies on 6th June, 2019, had announced waiver of charges on RTGS and NEFT transactions, instructions for which were to be communicated to the Banks subsequently. RBI vide their notification dated 11th June, 2019 has announced that the waiver will come into effect from 1st July, 2019. The Banks have been asked by the RBI to pass on the benefit of the waiver to the customers undertaking RTGS and NEFT transactions w.e.f. 1st July, 2019. https://www.rbi.org.in/Scripts/NotificationUs er.aspx?Id=11586&Mode=0 ? OMO PURCHASE OF GOVERNMENT SECURITIES RBI vide their notification dated 24th May, 2019 had notified purchase of Govt. securities through Open Market Operations on 13th June, 2019. RBI vide their notification dated 11th June, 2019 has notified the details of the Govt. securities to be purchased by RBI on 13th June, 2019. There is an aggregate ceiling of `150 billion for all the securities together. This decision by the RBI has come in view of injecting more liquidity into the financial system. https://rbidocs.rbi.org.in/rdocs/PressRelease /PDFs/PR2915B5FE977E852F434AA2ED6DE EA71DA02B.PDF ? COMMITTEE FOR ATM INTERCHANGE FEE STRUCTURE NOTIFIED RBI in their Statement of Development and Regulatory Policies on 6th June, 2019 had announced setting up of review committee for interchange ATM fee structure. RBI notified the committee for the aforementioned matter vide their notification dated 11th June, 2019. The committee has been constituted to examine the entire scope of ATM charges and fees. https://rbi.org.in/Scripts/BS_PressReleaseDis play.aspx?prid=47270 For any query: Contact – Akanksha Gupta Email: akanksha.g@acquisory.com