Corporate Updates 07 Feb 2014


Finance Ministry opens doors & admission to all insurance companies who are granted registration by the Insurance Regulatory Development Authority under the Insurance Act, 1938 for membership of stock exchange by amending the Rule 8 of the Securities Contracts (Regulation) (Amendment) Rules, 2014.


RBI liberalized the third party norms for import of goods by removing ceiling of $100000 and third party payment could be made to a Financial Action Task Force (FATF) compliant country and through the banking channel only. RBI further said the bank concerned should be satisfied with the bonafides of the transaction and export documents, such as, invoice and they should consider the FATF statements while handling such transaction.

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