AnnualMembershipFeesof ICSI
The Annual Membership and Certificate of Practice fee for the year 2016-17 becomes due for payment w.e.f. 1st April, 2016 and extended last date for payment of the same is 31st August, 2016. Members are requested to pay the fee before the last date. The Certificate of Practice fee must be accompanied by an application for renewal of Certificate of Practice in the revised Form-D duly completed in all respects and signed for renewal of Certificate of practice for the year 2015-16. The annual membership fee for ACS : Rs. 1,125/-, for FCS : Rs. 1,500/- and certificate of practice fee is Rs. 1,000/-. Fees can be paid by cash / cheque / DD in favour of “The Institute of Company Secretaries of India” or Fees can be paid online after login.
RBI
RBI has issued Master Directions for Non-Banking Financial Companies on six subjects. The subjects on which Master Directions have been issued are Exemptions from the provisions of RBI Act, 1934, Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016, Core Investment Companies (Reserve Bank) Directions, 2016, Standalone Primary Dealers (Reserve Bank) Directions, 2016, Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 2016, Residuary Non-Banking Companies (Reserve Bank) Directions, 2016. These directions consolidate/reorganise instructions issued in various Circulars/Directions/ Notifications/Master Circulars. The six Master Directions replace instructions contained in existing Master Circulars. RBI further informed that Master Directions on other subjects will be released shortly through a separate notification.
RBI
RBI vide Notification prescribes norms for enhancing credit to large borrowers. In order to mitigate the risk of high exposure of banking system to any single borrower, RBI notified the prudential norms on enhancing credit supply to large borrowers through market mechanism. As per the norms, which will come into effect from April 1, 2017, incremental exposure of banking system to a specified borrower beyond normally permitted lending limit (NPLL) will be deemed to carry higher risk which will be recognised by way of additional provisioning and higher risk weights. Specified borrower shall mean a borrower with an aggregate of the fund-based credit limits (ASCL) of more than Rs 25,000 crore at any time during 2017-18, Rs 15,000 crore at any time during 2018-19 and Rs 10,000 crore at any time from April 1, 2019, onwards. The final guidelines have been prepared after receiving the comments on the Discussion Paper that proposed a framework for addressing the concentration risk of the banking system arising from its exposures towards a single counter party.
News from NIRC of ICSI
Today, 29th March, 2016, NIRC of ICSI is organising Session on “Empowerment Series on GST – Overview & Opportunities” at 5:30 pm onwards at ICSI – NIRC Auditorium, Prasad Nagar, New Delhi – 110005, No Participation Fees, PCH – 2.
Speak Your Mind