The Reserve Bank of India (“RBI”) on November 13, 2020, issued a circular regarding the discontinuation of certain Reports & Returns under the Foreign Exchange Management Act, 1999. This initiative has been taken on account of ease of doing business and to reduce the cost of compliance for concerned entities.
Universe of Registered Companies Till Oct-20, there are 21,89,385 companies incorporated out of which 12,80,520 companies are active. As of Oct-20, 70,809 companies were active in Telangana state. 42.6% of total active companies were registered after CY2015. The chart does not include LLPs. Company Classification Currently, there are 60,574 public
The Reserve Bank of India (“RBI”) on 05th September 2020 issued a circular directed to all Scheduled Banks and Non-Banking Financing Companies regarding joint contribution of credit by both the lenders. This is in continuation of the RBI circular issued on September 21, 2018 on co-origination of loans by Banks
RBI CIRCULAR ON INTEREST SUBVENTION SCHEME FOR MSMEs The Reserve Bank of India (“RBI”) on October 07, 2020 issued a circular directed to all Co-operative Banks wherein the RBI has provided some relief to the Micro Small and Medium Enterprises by extending Interest Subvention Scheme on loans extended by co-operative
We keep hearing about Neo Banks these days. Here is a small write on what they do and their current landscape. Neo Bank is a new type of digital bank that exists without any branches. They are primarily fintech firms providing digital and mobile-first financial solutions services to modern tech-savvy