MUMBAI, India, Jan. 6 -- Reserve Bank of India issued the following press release:
The Reserve Bank had undertaken a review of the extant guidelines on the prudential norms on declaration of dividend and remittance of profits by foreign banks operating in branch mode in India. Accordingly, a draft of the revised framework was issued for public comments on January 2, 2024. However, based on the stakeholder feedback and consultations, the following draft Directions proposing a new methodology for computing the maximum eligible dividend payout are being issued for public comments:
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Reserve Bank of India (Commercial Banks - Prudential Norms on Declaration of Dividend and Remittances of Profit) Directions, 2026
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Reserve Bank of India (S...