Corporate Updates – 16-11-2016


RBI has notified that banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks’ ATMs as well as at other banks’ ATMs, irrespective of the number of transactions during the month. This waiver is applicable on transactions done at ATMs from November 10, 2016 till December 30, 2016, subject to review. RBI has decided to do so due to the inconvenience caused to customers due to the recent withdrawal of legal tender characteristics of existing ₹ 500/- and ₹ 1000/- Bank Notes.


SEBI has issued a Circular providing clarifications on aspects related to day count convention for debt securities to ensure uniformity for payment of interest/redemption with respect to debt securities. The circular clarifies that if the interest payment date falls on a holiday, the payment may be made on the following working day without disturbing the subsequent coupon schedule originally stipulated at the time of issuing the security. It is further clarified that in case of a leap year, for a half yearly interest payment, 366 days would be reckoned twice as the denominator; for quarterly interest, four times and for monthly interest payment, twelve times. The provisions of this circular shall be applicable for the debt securities issued, in accordance with SEBI (Issue and Listing of Debt Securities) Regulations, 2008, on or after January 01, 2017.

News from NIRC of ICSI

NIRC of ICSI has decided to start fortnightly "PCS HELPLINE" to provide guidance / counseling in respect of problems and difficulties being faced by our members. In this series, NIRC is organizing "PCS HELPLINE ON ANNUAL FILING” on the 16th November, 2016, to resolve the queries over telephone regarding Technical / Procedural / Interpretation issues relating to the topic “ANNUAL FILING” by CS Anjali Yadav, will be available to answer the queries telephonically, on 16th November, 2016 from 4.00 PM to 5.30 PM at 011-4934 3001.

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