Articles by Affluence Advisory

CBIC Instructions to deal with taxability in case of secondment of employees

Affluence Advisory 03 January 2024 at 14:32

In light of the recent judgement pronounced by Honorable Supreme Court in the case of Northern Operating Systems Private Limited (NOS), CBIC has issued Instruction No. 05/2023-GST to prescribe the manner in which adjudication with respect to taxability in case of secondment has to be dealt.

RBI's Move to Regulate Investments in Alternative Investment Fund (AIFs)

Affluence Advisory 29 December 2023 at 08:52

On 19th December 2023, the Reserve Bank of India (RBI), issued guidelines regarding investments made in Alternative Investment Funds (AIFs) made by Banks and Non-banking Financial Companies (NBFCs), commonly referred to as regulated entities

Can a Category III AIF invest in Mutual Funds on a permanent basis as a part of their multi asset portfolio?

Affluence Advisory 27 December 2023 at 08:56

A Category III Alternative Investment Fund (AIF) requested the Securities and Exchange Board of India (SEBI) for an Informal Guidance by way of the interpretative letter under the provisions of the SEBI (Informal Guidance) Scheme, 2003.

RBI tightens norms for lenders investing in Alternate Investment Funds (AIFs)

Affluence Advisory 22 December 2023 at 07:24

The Reserve Bank of India (RBI) issued a circular, RBI/2023-24/90, on December 19, 2023, addressing concerns related to investments in Alternative Investment Funds (AIFs) by regulated entities (REs).

SEBI mandates AIFs to make investment in Demat form and appointment of Custodian for all the Categories

Affluence Advisory 09 December 2023 at 14:35

Securities and Exchange Board of India (SEBI) at its 203rd meeting held on Saturday, November 25, 2023, amended the SEBI (Alternative Investment Funds) Regulations, 2012 to facilitate ease of compliance and strengthen the protection of interest of investors in Alternative Investment Funds.

Master Direction on IT Governance, Risk, Controls and Assurance Practices from RBI

Affluence Advisory 08 December 2023 at 09:19

Provide a structure and strong governance framework for technology in the Banking and Financial segment. The regulators have been working in this direction of strengthening control frameworks for technology services including outsourcing

Significance vis-a-vis Repercussions of Non-Appointment of Company Secretary

Affluence Advisory 29 November 2023 at 09:09

The Companies Act has strengthened the role and position of the company secretaries. In particular, it considers a company secretary as key managerial personnel.

Middle-Layer NBFCs: Navigating Scale-Based Regulations

Affluence Advisory 25 November 2023 at 09:11

As per Master Direction - Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 (hereinafter referred to as "SBR Master Direction" or "Master Direction on SBR") dated 19 October 2023

RBI's Latest Move: Guidelines for Unsecured Loans by Banks and NBFCs

Affluence Advisory 22 November 2023 at 09:05

In October 2023, the Reserve Bank of India's Monetary Policy Committee decided to maintain the status quo as far as policy rates were concerned. However, the Governor came down hard on the unbridled growth in the unsecured loans portfolio of banks. These loans have grown significantly faster than the overall credit growth in the banking system.

SEBI Enhances Investor Protection and Education Fund Regulations for Greater Transparency

Affluence Advisory 16 November 2023 at 14:35

The Securities and Exchange Board of India (SEBI) has continued its commitment to safeguarding investors and enhancing the transparency and efficiency of financial markets with its latest amendment to the Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009.