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The Public Sector Banks (PSBs) have transferred unclaimed deposits (till February 2023) of Rs 35,012 crore to the RBI, the Lok Sabha was informed on Monday.
Securities and Exchange Board of India SEBI released circular streamliningonboarding process of Foreign Portfolio Investors. Circular has modified provisions of the Master Circular for FPIs, Designated Depository Participants and Eligible Foreign Investors.
The Supreme Court on Monday held that a decision classifying the account of a borrower as fraudulent must be a reasoned order.
The decision to classify an account as fraud must be made by a reasoned order.
Department of Revenue, Ministry of Finance, Government of India amended the Prevention of Money laundering Rules. The Master Circular of SEBI for FPIs, DDPs and EFIs requires an FPI to identify and declare its ultimate beneficial owner in accordance with Rule 9 of the PML Rules.