RBI restricts banks from declaring dividends
RBI has restricted all Commercial Banks and all Cooperative Banks from Declaring dividends for the financial year ended on March 2020.
The Andhra Pradesh Government introduces a scheme for Third Party Certification under all the Labor Laws in the State
The empaneled third party agencies with prescribed qualifications shall conduct labor law audit and certification. The audit report/ certification granted by third party agencies shall qualify as preliminary compliance of inspection procedure.
RBI directs Commercial and Cooperative Banks not to declare dividends for FY2020.
In view of the heightened uncertainty caused by COVID-19 and the desirability of banks conserving capital to retain their capacity to support the economy and absorb losses, it has decided that all banks shall not make any further dividend payouts from the profits pertaining to the financial year ended March 31, 2020 until further instructions.
RBI announces date for launching of RTGS 24×7.
Round the clock availability of RTGS will provide extended flexibility to businesses for effecting payments and will enable introduction of additional settlement cycles in ancillary payment systems. This can also be leveraged to enhance operations of Indian financial markets and cross-border payments.
RBI releases Draft Circular on Declaration of Dividend by NBFCs.
The guidelines will be applicable for dividends to be declared for the financial year beginning April 01, 2020 (FY 2020-21) onwards.
