J&K&L HC: Undenied Pleadings are Deemed Admitted by Implication under the CPC  ||  Kerala HC: Transfer Order Pending Disciplinary Proceedings Cannot be Disguised as Punishment  ||  Allahabad HC: GST, Incentives, 0r Festival Advances Cannot be Deducted From Employee’s Retiral Dues  ||  SC: Absconding Accused Cannot Claim Anticipatory Bail Solely Because a Co-Accused Was Acquitted  ||  Supreme Court: District Cricket Bodies Must Adopt Good Governance Voluntarily, Not Follow BCCI Rules  ||  Supreme Court: Post-Award Property Purchasers Cannot Resist Execution of an Arbitral Award  ||  SC: Telecom Spectrum is a Community Resource and its Ownership Cannot be Decided under the IBC  ||  SC: Police Failure to Invoke IPC Provisions Led to Contractor’s Acquittal in Cement Stockpiling Case  ||  SC: Bank’s Internal Classification of Debt as NPA Does Not Determine Limitation under the IBC  ||  Bombay HC: Clarifies Procedure for Executing Foreign Decrees    

RBI issues Master Direction on Commercial Paper and Non-Convertible Debentures - (03 Jan 2024)

Banking

RBI issues Master Direction on Commercial Paper and Non-Convertible Debentures of original or initial maturity upto one year) Directions, 2024.The Directions shall be applicable to all persons/agencies dealing in Commercial Paper and/or Non-Convertible Debentures of original or initial maturity upto one year. The Directions shall come into force with effect from April 01, 2024.

All residents are eligible to invest in Commercial Paper (CPs) and Non-Convertible Debentures (NCDs).Non-residents are eligible to invest in CPs and NCDs to the extent permitted under Foreign Exchange Management Act (FEMA), 1999 or the rules/regulations framed thereunder.Provided that no person, resident or non-resident, can invest in CPs and NCDs issued by related parties either in the primary or through the secondary market.CPs and NCDs shall be issued in dematerialised form and held with a depository registered with SEBI. CPs and NCDs shall be issued in minimum denomination of ₹5 lakh and in multiples of ₹5 lakh thereafter.The tenor of a CP shall not be less than seven days or more than one year. The tenor of an NCD shall not be less than ninety days or more than one year.

The Directions have been issued in exercise of the powers conferred under section 45J, 45K, 45L and 45W of the Reserve Bank of India Act, 1934 read with section 45U of the Act.In the event of any person violating any provision of the Directions, the Reserve Bank may, in addition to taking any penal or regulatory action in accordance with law, disallow that person from participating in the CP and NCD markets for a period not exceeding one month at a time, after providing reasonable opportunity to the entity to defend its actions.

Tags : DIRECTIONS   ISSUANCE   CP AND NCD  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved