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RBI / FEMA

All about Pledging of Shares

Pledging of shares in order to avail the loan is neither a new concept for promoters nor for investors. In brief, when the promoters want to raise the funds for the personal or the company’s needs, they pledge their shares with the financial or non-financial institution....

Read More

FAQs on Priority Sector Lending – Targets and Classification

Priority Sector includes the following categories: (i) Agriculture (ii) Micro, Small and Medium Enterprises (iii) Export Credit (iv) Education (v) Housing (vi) Social Infrastructure (vii) Renewable Energy (viii) Others. ...

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Possession of Foreign Currency

Many persons are interested at preserving old currency, new released currency, foreign currency received by them. Few of them possess the foreign currency for some specified purpose. Many times they counter questions regarding eligibility for possession of foreign currency and the permitted limit to which they can possess the foreign curr...

Read More

Non performing Assets (NPA) Management

The concept of NPA is introduced by RBI to reflect a bank's actual financial health in its balance sheet and as per the recommendations made by the Committee on Financial System (Chairman Shri M. Narasimham). The provisioning should be made on the basis of the classification of assets into different categories....

Read More

Credit Supply for Large Borrowers through Market Mechanism

The Reserve Bank of India today placed on its website the Discussion Paper (DP) on Framework for enhancing Credit Supply for Large Borrowers through Market Mechanism. Absence of an overarching ceiling on total bank borrowing by a corporate entity from the banking system has resulted in banks collectively having very high exposures to some...

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Steps taken to curb Black Money within & outside the country

The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this regard are given below:...

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Plans to render black money & fake notes circulation ineffective

The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of Government to render black money and fake notes circulating in the market ineffective are as under: -...

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RBI Norms for Protecting Customers

Reserve Bank of India (RBI) has released a Charter of Customer Rights, which enshrines broad, overarching principles for protection of bank customers and enunciates the ‘five’ basic rights for bank customers, that I s, (i) Right to Fair Treatment, (ii) Right to Transparency, Fair and Honest Dealing, (iii) Right to Suitability, (iv) Ri...

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Margin requirements for non- centrally cleared derivative

Derivatives are an integral risk management tool for most of the business entities and financial institutions. Most of the bigger and mid-size companies in India use derivatives to manage foreign currency, interest rate and commodity price risks. Derivatives foster financial innovation and contribute to the completeness of financial marke...

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Steps taken by Govt to deal with Non Performing Assets issue

Government has taken various measures to deal with the issue of Non Performing Assets (NPAs) in Banking Sector especially in case of Public Sector Banks (PSBs). The Finance Minister said that there are two categories of defaulters, viz. those who are unable to pay back due to economic slowdown both in domestic and global market and other ...

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Firm or ‘firm name’ is merely a compendious description of all the partners collectively

Decision of the Appellate Tribunal that the firm has failed to take reasonable steps for realizing the export proceeds is a finding based on facts viz: (a) that the appellants continued to export despite continuous defaults made by the said party in clearing the outstanding; (b) that the importer ap...

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Charges under FERA provisions can be framed on the basis of statement of co-accused

In the case at hand, there is a recovery of foreign currency from the co-accused. The relationship of employer and employee has been admitted both by the Petitioner and the co-accused. The statement of the co-accused and the other documents seized show that the co-accused was acting on the behest of...

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Members cannot be appointed part-time to Fema Tribunal

Rule 2 (1) (b) provides the qualification to be a Member. Needless to say, the same is in total accord with the Act. The first proviso to Rule 5 introduces part time Member. We have held that the said proviso, as far as it introduces the concept of part time Member, is contrary to the provision cont...

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FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable

Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could have been awarded to the respondent on the seized Indian currency only. The learned Single Judge has however applying the said Rule also awarded interest on the seized fo...

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SC asks Ketan Ketan Parikh and Co to Deposit deposit 50 percent of penalty imposed for Fema violations

Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s. Panther Fincap and Management Services Ltd, were imposed a penalty of Rs. 80 Crores, 12 Crores and 40 Crores respectively by the Special Director of Enforcement, Mumbai ...

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Rupee Drawing Arrangement -Statement/returns under XBRL

RBI/2015-16/402 A.P. (DIR Series) Circular No.71 - (19/05/2016) - AD Cat- I banks were required to submit statement E on total remittances received every quarter. Authorised Dealer Category – I (AD Cat – I) banks are now advised to report the above mentioned statement in eXtensible Business Reporting Language (XBRL) system from the quarter ending June 2016....

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Money Transfer Service Scheme – Statement/returns under XBRL

RBI/2015-16/401 A.P. (DIR Series) Circular No.70 - (19/05/2016) - Authorised Persons, who are Indian Agents under Money Transfer Service Scheme were required to submit quarterly statement of the quantum of remittances received in the prescribed format....

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Frauds in UCBs: Changes in Monitoring and Reporting mechanism

RBI/2015-16/399 DCBS.CO.Cir.No.001/12.17.001/2015-16 - (19/05/2016) - On a review, it has been decided to change the fraud monitoring and reporting mechanism at the Regional Offices and Central Fraud Monitoring Cell (CFMC) of the RBI. Accordingly, henceforth:...

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RBI aligns Rules for Investment in Credit Information Companies

RBI/2015-16/400 DBR.CID.BC.No.98/20.16.042/2015-16 - (19/05/2016) - In case the investor in a Credit Information Company in India is a wholly owned subsidiary (directly or indirectly) of an investment holding company, the conditions as at (2) and (3) above will be applied to the operating group company that is engaged in credit information business and has undertake...

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Investment by Foreign Portfolio Investors in corporate debt securities

Draft Circular - (16/05/2016) - The Reserve Bank of India, in consultation with the Ministry of Finance, Government of India proposes to permit investment by foreign portfolio investors (FPIs) in unlisted debt securities and securitised debt instruments. It has today placed on its website the draft circular implementing the propos...

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Recent Posts in "RBI / FEMA"

All about Pledging of Shares

Pledging of shares in order to avail the loan is neither a new concept for promoters nor for investors. In brief, when the promoters want to raise the funds for the personal or the company’s needs, they pledge their shares with the financial or non-financial institution....

Read More
Posted Under: RBI / FEMA |

Rupee Drawing Arrangement -Statement/returns under XBRL

RBI/2015-16/402 A.P. (DIR Series) Circular No.71 (19/05/2016)

AD Cat- I banks were required to submit statement E on total remittances received every quarter. Authorised Dealer Category – I (AD Cat – I) banks are now advised to report the above mentioned statement in eXtensible Business Reporting Language (XBRL) system from the quarter ending June 2016....

Read More

Money Transfer Service Scheme – Statement/returns under XBRL

RBI/2015-16/401 A.P. (DIR Series) Circular No.70 (19/05/2016)

Authorised Persons, who are Indian Agents under Money Transfer Service Scheme were required to submit quarterly statement of the quantum of remittances received in the prescribed format....

Read More

Frauds in UCBs: Changes in Monitoring and Reporting mechanism

RBI/2015-16/399 DCBS.CO.Cir.No.001/12.17.001/2015-16 (19/05/2016)

On a review, it has been decided to change the fraud monitoring and reporting mechanism at the Regional Offices and Central Fraud Monitoring Cell (CFMC) of the RBI. Accordingly, henceforth:...

Read More

RBI aligns Rules for Investment in Credit Information Companies

RBI/2015-16/400 DBR.CID.BC.No.98/20.16.042/2015-16 (19/05/2016)

In case the investor in a Credit Information Company in India is a wholly owned subsidiary (directly or indirectly) of an investment holding company, the conditions as at (2) and (3) above will be applied to the operating group company that is engaged in credit information business and has undertaken to provide technical know-how to the C...

Read More

FAQs on Priority Sector Lending – Targets and Classification

Priority Sector includes the following categories: (i) Agriculture (ii) Micro, Small and Medium Enterprises (iii) Export Credit (iv) Education (v) Housing (vi) Social Infrastructure (vii) Renewable Energy (viii) Others. ...

Read More
Posted Under: RBI / FEMA |

Investment by Foreign Portfolio Investors in corporate debt securities

Draft Circular (16/05/2016)

The Reserve Bank of India, in consultation with the Ministry of Finance, Government of India proposes to permit investment by foreign portfolio investors (FPIs) in unlisted debt securities and securitised debt instruments. It has today placed on its website the draft circular implementing the proposal for comments/feedback. Comments/feedb...

Read More

Possession of Foreign Currency

Many persons are interested at preserving old currency, new released currency, foreign currency received by them. Few of them possess the foreign currency for some specified purpose. Many times they counter questions regarding eligibility for possession of foreign currency and the permitted limit to which they can possess the foreign curr...

Read More
Posted Under: RBI / FEMA |

Non performing Assets (NPA) Management

The concept of NPA is introduced by RBI to reflect a bank's actual financial health in its balance sheet and as per the recommendations made by the Committee on Financial System (Chairman Shri M. Narasimham). The provisioning should be made on the basis of the classification of assets into different categories....

Read More
Posted Under: RBI / FEMA |

Credit Supply for Large Borrowers through Market Mechanism

The Reserve Bank of India today placed on its website the Discussion Paper (DP) on Framework for enhancing Credit Supply for Large Borrowers through Market Mechanism. Absence of an overarching ceiling on total bank borrowing by a corporate entity from the banking system has resulted in banks collectively having very high exposures to some...

Read More
Posted Under: RBI / FEMA |
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