Fema / RBI News, Articles, Notifications and Forms

  • Dec
  • 16
  • 2014

RBI extends Timing for RTGS Transactions

Added In RBI / FEMA
With effect from 29.12.2014 RBI has extended the working hours for Weekdays / Regular Days to 08.00 Am to 08.00 PM from existing 09.00 AM to 04.30 PM and it further extended the working hours for RTGS on Saturdays / Short Days to 08.00 Am to 03.30 PM from existing 09.00 AM to 02.00 PM.

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  • Dec
  • 15
  • 2014

Flexible Structuring of Existing Long Term Project Loans to Infrastructure and Core Industries

Added In RBI / FEMA
Please refer to our circular DBOD.No.BP.BC.24/21.04.132/2014-15 dated July 15, 2014 on Flexible Structuring of Long Term Project Loans to Infrastructure and Core Industries. In terms of paragraph 9 of the said circular, flexible structuring of project loans with the option of periodic refinancing will be available only to new loans to infrastructure projects and core industries projects sanctioned after the date of the circular.

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  • Dec
  • 15
  • 2014

Forex Facilities for Residents (Individuals) – FAQs

Added In RBI / FEMA
I. Guidelines on Travel Related Matters. II. Liberalised Remittance Scheme (LRS) of USD 125,000 III. Guidelines for Financial Intermediaries offering special schemes, protection under the Scheme.

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  • Dec
  • 14
  • 2014

Payment of Pension to Government Pensioners – FAQ

Added In RBI / FEMA
Updated till 12th December 2014. Scheme for Payment of Pension to Government Pensioners by Authorised Banks The Reserve Bank of India (the Reserve Bank) oversees disbursement of pension by its agency banks in respect of all Central Government Departments and some State Governments. In the process, it receives queries/complaints from pensioners in regard to fixation, […]

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  • Dec
  • 12
  • 2014

Special Deposit Scheme 1975 – Payment of interest for the calendar year 2014

Added In RBI / FEMA
RBI/2014-15/350 IDMD (DGBA).CDD. No. 2600 /15.01.001 / 2014-15 December 12, 2014 The Chairman & Managing Director Head Office Government Accounts Department State Bank of India / State Bank of Patiala State Bank of Bikaner & Jaipur /State Bank of Travancore State Bank of Hyderabad / State Bank of Mysore Allahabad Bank / Bank of Baroda […]

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  • Dec
  • 09
  • 2014

Introduction of Digital Life Certificates for Pensioners

Added In RBI / FEMA
As per the present scheme for payment of government pension, pensioners are required to furnish a life certificate in November every year to the bank concerned for continued receipt of pension without interruption. Even though this requirement has been liberalised to enable pensioners to submit their life certificate at any branch of the pension disbursing bank, several pensioners find it difficult to submit the certificates in time for various reasons.

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  • Dec
  • 08
  • 2014

FDI in India – Review of FDI policy –Sector Specific conditions- Defence

Added In RBI / FEMA
In terms of Schedule 1 to the Notification ibid, Foreign Direct Investment (FDI) up to 26 per cent is permitted under Government route in Defence industry subject to license under the Industries (Development & Regulation) Act, 1951. Proposals for FDI above 26 per cent would be subject to approval of Cabinet Committee on Security on case to case basis, wherever it is likely to result in access to modern and ‘state-of-art’ technology in the country.

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  • Dec
  • 08
  • 2014

Govt. permits FDI in 10 activities of Railway Transport sector

Added In RBI / FEMA
Department of Industrial Policy and Promotion (DIPP) has now permitted 100% FDI in railway Infrastructure sector under automatic route subject to conditions. Accordingly, it has been decided to permit FDI in the following activities of the Railway Transport sector:

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  • Dec
  • 04
  • 2014

Mobile Banking Transactions in India – Operative Guidelines for Banks

Added In RBI / FEMA
As banks have started offering mobile banking services at different points of time, there are differences in procedures adopted by banks for registering customers for mobile banking as well as in the channels of delivery and authentication process. Generally, banks are offering mobile banking services through the SMS, Application-based solutions and USSD channels.

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  • Dec
  • 04
  • 2014

RBI releases Guidelines for setting up of & operating Trade Receivables Discounting System (TReDS)

Added In RBI / FEMA
The Reserve Bank of India (RBI) today announced the guidelines for setting up and operating the Trade Receivables Discounting System (TReDS). TReDs is a scheme for setting up and operating the institutional mechanism to facilitate the financing of trade receivables of micro, small and medium enterprises (MSMEs) from corporate and other buyers, including government departments […]

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