20 January 2020

Notifications & Circulars

Reserve Bank of India



Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) - UCBs


1. Attention is drawn to RBI Circular DOR (PCB). BPD.Cir.No.7/13.05.000/2019-20 dated December 27, 2019 on "Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC) - UCBs". In terms of the instructions, Primary (Urban) Co-operative Banks (UCBs) having total assets of Rs. 500 crore and above as on 31st March of the previous financial year (hereinafter referred to as "banks") shall report credit information, including classification of an account as Special Mention Account (SMA), on all borrowers having aggregate exposures of Rs. 5 crore and above with them to Central Repository of Information on Large Credits (CRILC) maintained by the Reserve Bank. Aggregate exposure shall include all fund-based and non-fund based exposure, including investment exposure on the borrower.

2. The operational guidelines for reporting the CRILC- UCBs return are as follows:

i. The reporting frequency of the CRILC- UCBs return is quarterly to start with. The banks need to submit the data on large exposures within 30 days from the end of the quarter through XBRL reporting platform of RBI. Banks may put in place appropriate systems to be in readiness to submit the return on a more frequent periodicity.

ii. CRILC - UCBs return will comprise of three sections viz. Section 1: Exposure to Large Borrowers, Section 2: Reporting of Technically / Prudentially Written-off Accounts and Section 3: Reporting of Balance in Current Account, as below:

a. In Section 1: Exposure to Large Borrowers, the bank needs to report the credit information of all borrowers having aggregate exposures (fund-based, non-fund based and investment exposure) of Rs. 5 crore and above.

b. In Section 2: Reporting of Technically / Prudentially Written-off Accounts, the bank needs to report the data on the amount written off, if any, for borrowers whose technically/prudentially written off amount is Rs. 5 crore or more and which are not reported in Section 1.

c. In Section 3: Reporting of balance in Current Account, the bank needs to report the data on Current Account holders whose (i) balance (either credit or debit) in current account as on reporting date is Rs. 1 crore and above or (ii) total of credit summation (sum of all credit transactions) during the reporting quarter is Rs. 5 crore and above or (iii) total of debit summation (sum of all debit transactions) during the reporting quarter is Rs. 5 crore and above.

iii. The detailed instructions for each Section is provided in the CRILC-UCBs return installer (macro enabled excel template).

iv. Banks are advised to take utmost care about data accuracy and integrity while submitting the data on large credits to the Reserve Bank of India, failing which penal action would be undertaken.

Tags : Reporting of Exposures CRILC

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Reserve Bank of India



Enhancment of Security of Card Transactions


1. Over the years, the volume and value of transactions made through cards have increased manifold. To improve user convenience and increase the security of card transactions, it has been decided as under:

a) At the time of issue / re-issue, all cards (physical and virtual) shall be enabled for use only at contact based points of usage [viz. ATMs and Point of Sale (PoS) devices] within India. Issuers shall provide cardholders a facility for enabling card not present (domestic and international) transactions, card present (international) transactions and contactless transactions, as per the process outlined in para 1 (c).

b) For existing cards, issuers may take a decision, based on their risk perception, whether to disable the card not present (domestic and international) transactions, card present (international) transactions and contactless transaction rights. Existing cards which have never been used for online (card not present) / international / contactless transactions shall be mandatorily disabled for this purpose.

c) Additionally, the issuers shall provide to all cardholders:

i. facility to switch on / off and set / modify transaction limits (within the overall card limit, if any, set by the issuer) for all types of transactions - domestic and international, at PoS / ATMs / online transactions / contactless transactions, etc.;

ii. the above facility on a 24x7 basis through multiple channels - mobile application / internet banking / ATMs / Interactive Voice Response (IVR); this may also be offered at branches / offices;

iii. alerts / information / status, etc., through SMS / e-mail, as and when there is any change in status of the card.

2. The provisions of this circular are not mandatory for prepaid gift cards and those used at mass transit systems.

3. Issuers and card networks may give wide publicity to the provisions of this circular.

4. These directions are issued under Section 10(2) of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007) and shall come into effect from March 16, 2020.

Tags : Enhancement Security Card Transactions

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Securities and Exchange Board of India


Capital Market

Facility to view status of/deficiency in claim applications and making good those deficiencies


1. The Justice (Retd.) R.M. Lodha Committee (the "Committee") had initiated the process of refunds for investors of PACL having claim amount upto Rs. 5,000/- and till date 3,81,603 such investors/applicants have been paid. However, certain applications could not be processed further on account of one or more deficiencies.

2. The Committee had vide press release dated December 03, 2019 informed that an opportunity will be provided to all investors/applicants with claims upto Rs. 5,000/-, whose claim applications were found deficient, to make good deficiencies as may be applicable to their claims, so as to enable their claims to be processed.

3. Accordingly, investors/applicants with claims upto Rs. 5,000/- are requested to check the status of their claim applications online on https://www.sebipaclrefund.co.in and rectify the deficiencies, if any. The portal will be operational from January 24, 2020.

4. The last date for checking the status of claim applications and/or rectification of deficiencies will be July 31, 2020.

Tags : Status Claim applications Deficiencies

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Press Information Bureau



India and Finland ink MoU to enhance bilateral defence cooperation


Defence Secretary, Dr. Ajay Kumar and Permanent Secretary, Ministry of Defence of Finland Mr. Jukka Juusti signed a Memorandum of Understanding (MoU) to further defence cooperation between India and Finland, here today. The MoU on co-operation in the field of Production, Procurement, Research and Development of Defence related Equipment and Industrial cooperation has been inked on the sidelines of Raisina Dialogue 2020. Under the broad ambit of the MoU, cooperation between Finnish companies and Indian Defence Public Sector Undertakings could be explored.

A draft MoU between the two countries in the field of defence cooperation amongst others was under discussion since the DefExpo 2018 and has now been formalised in the run up to DefExpo 2020, to be held in Uttar Pradesh capital Lucknow between February 5-9, 2020.

In 2019, Mr. Juusti had led a delegation to Aero India in Bengaluru and post his visit, the Permanent Secretary had evinced their interest to participate in the 'Make in India' vision and formalise an arrangement for Defence Industrial cooperation through an MoU.

On February 13, 2016, Prime Minister of Finland Mr. Juha Sipila had bilateral discussions with Prime Minister Shri Narendra Modi during his visit to India for the inauguration of the 'Make in India' week. In April 17, 2018, Prime Minister Modi held a bilateral meeting with Mr. Sipila during the first India-Nordic Summit in Stockholm, Sweden. Also, a delegation from Finland had visited India between November 29 - December 02, 2018 to explore new business opportunities for Finnish companies.

Tags : MOU Bilateral discussions Defence cooperation

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Ministry of Finance 



Implementation of PGA e-SANCHIT-Paperless Processing under SWIFT-Uploading of Licenses/Permits/Certificates/Other Authorizations (LPCOs) by PGAs


1. 'E-SANCHIT' application is successfully in operation since 01.04.2018. The objective of the application is to further reduce physical interface between Customs/regulatory agencies and the trade and also to increase the speed of clearance in both imports & exports.

2. The facility to upload digitally signed Licenses/Permits/Certificates/Other Authorizations (LPCOs) by Participating Government Agencies (PGAs) on e-SANCHIT at all ICES (Indian Customs EDI System) locations across India was introduced from 16.11.2018 vide Circular No. 44/2018-Cus. dated 13.11.2018.

3. Now, 4 more PGAs with their LPCOs as detailed in the Annexure-I are being brought onboard the e-SANCHIT platform. With this, the total number of PGAs brought on board becomes 47.

4. Since the facility to upload the LPCOs is now being fully made available to these 4 new PGAs, the beneficiaries i.e. importer/exporters/customs brokers would not be allowed to upload the previously issued LPCOs on e-SANCHIT w.e.f 31/01/2020. Further, to facilitate the members of the trade (beneficiaries), the PGAs are required to upload the LPCOs issued by them during the last 15 days from above cut-off date. Any LPCOs issued on a prior date may also be uploaded by the PGAs on e-SANCHIT, in order to enable the beneficiary to utilize the same.

5. It is reiterated that the PGAs will be communicating with the beneficiaries through the e-mail addresses registered in the ICEGATE. Board had already introduced simplified auto registration process in ICEGATE based on email IDs already provided by them for registration under GST without the use of digital signatures for limited purposes of eSANCHIT (communication and viewing) and the IRNs will be communicated to such email IDs. In this regard, kindly refer to Board's Circular No.13/2019-Cus. dated 03.06.2019 and circular No.19/2019-Cus. dated 16.07.2019. Since the facility of beneficiary uploading these documents through e-SANCHIT will be deactivated from 31.01.2020, beneficiary registration is of utmost importance. Hence, all the formations are requested to reach out to the beneficiaries to ensure that correct email addresses are reflected in the ICEGATE.

Tags : 'E-SANCHIT' Implementation Paperless Processing

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Press Information Bureau



Indian Railways to provide Content on Demand Service on Trains and Stations


Content on Demand (CoD) will soon be available in all Premium/Express/Mail trains and Suburban trains of Indian Railways. With an aim to generate more non fare revenue, Railway Board had entrusted RailTel, a miniratna PSU under Ministry of Railways, with providing the Content on Demand service to passengers in trains. On its part, RailTel has selected M/s Margo Network, a subsidiary of Zee Entertainment as the Digital Entertainment Service Provider (DESP) for providing Content on Demand (CoD) Service on trains and railway stations. The project will be implemented in two years and the provision of content such as movies, shows, educational programs etc. will be made available both in paid and unpaid formats for a contract period of 10 years which includes first two years of implementation.

In this project, RailTel will provide various preloaded multilingual content (Movies, Music Videos, General Entertainment, Lifestyle etc) in moving trains through media servers installed in trains. CoD platform will also provide e-commerce/m-commerce services in various domains e.g. travel bookings (cab, bus, train) and provide various innovative solutions in digital marketing domain. With CoD, passengers will be able to enjoy uninterrupted free/Subscription based entertainment service and high Quality buffer free streaming across personal devices during their train journey. The content will be periodically refreshed.

Talking about the project, Shri Puneet Chawla, CMD/RailTel, said that the full roll out will be completed by 2022. The Content on Demand service will not only improve overall passenger experience but at the same time will increase the non-fare revenue through multiple monetization models. The scope covers all 17 Zones of Indian Railways. The earning from the project will be majorly through three streams e.g. Advertisement based monetization, Subscription based monetization and E-Commerce/Partnership Services.

A total of approximately 8731 trains which includes 3003 trains (Premium/Mail/Express-to and fro) pan India and 2864 pairs of Suburban Trains (total 5728 trains) have been kept in the scope of the service rollout. Also CoD will be available at all Wi-Fi enabled Railway Stations which has crossed 5563 Railway stations as on date.

Tags : Content Demand Service Trains and Stations

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Ministry of Commerce and Industry



Amendments in Standard Input Output Norms (SION) of Engineering Product group: Suspension of SION C-888


1. In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendment in the Standard Input Output Norms (SION):

2. The Standard Input Output Norm as appearing at serial number C-888 for export of Stainless Steel Washers of different grades stands suspended with immediate effect.

3. An exporter desirous of obtaining Advance Authorization for export of above said product may apply under Para 4.07 of the HBP 2015-20.

Effect of this Public Notice:

Standard Input Output norms for Stainless Steel Washers appearing under C-888 stands suspended with immediate effect.

Tags : Amendments SION Engineering Product group

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