Fema / RBI News, Articles, Notifications and Forms

  • Jul
  • 22
  • 2014

RBI keeps in line with DIPP: switches to National Industrial Classification 2008 for FDI Reporting

Added In RBI / FEMA
Aditya Shah DIPP has vide their Press Release Note 4 Of 2014 Series[1] has switched from the old NIC 1987 version to new NIC 2008 for the purpose of classification for Industrial Licenses and Industrial Entrepreneur’s Memorandum (IEM) proposal that have been submitted to DIPP. In light of those changes and to ensure that the […]

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  • Jul
  • 18
  • 2014

Clarification on Liberalized Remittance Scheme (LRS) for resident individuals

Added In RBI / FEMA
Clarification – Increase in the limit from USD 75,000 to USD 125,000 for resident individuals under Liberalized Remittance Scheme (LRS) {Notification No. “RBI/2014-15/132 A.P. (DIR Series) Circular No.5 dated 17th July, 2014} Before going into the revision made in Liberalized Remittance Scheme, let us know what it is actually?

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  • Jul
  • 18
  • 2014

RBI determined to revamp FDI regulations- issues revised pricing guidelines

Added In RBI / FEMA
RBI has done away with the recommendation to compute price by a particular method and has thereby enabled the Chartered Accountant and the SEBI registered Merchant Bankers to choose any internationally accepted methodology for pricing. This is surely in line with what was assured in the policy statement.

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  • Jul
  • 17
  • 2014

RBI eases FDI norms- permits investment in partly paid shares and warrants

Added In RBI / FEMA
An usher of tremendous promotion in Foreign Direct Investment was marked on 10th July, 2014 when our Finance Minister expressly stated the need and want to promote more Foreign Direct Investment in selective sectors where it helps the larger interest of Indian Economy. This was marked by a proposed change in the composite cap of FDI in Defence and Insurance sector which was raised to 49% from the earlier cap being 26% with full Indian Management control via the FIPB route. This was done to infuse some big relief to the capital starved Indian economy.

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  • Jul
  • 17
  • 2014

RBI releases Draft Guidelines for Licensing of Payments Banks and Small Banks

Added In RBI / FEMA
The Reserve Bank of India released on its website today, the Draft Guidelines for “Licensing of Payments Banks” and Draft Guidelines for “Licensing of Small Banks”. The Reserve Bank has sought views/comments on the draft guidelines from all interested parties and general public. Suggestions and comments on the draft guidelines may be sent by August […]

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  • Jul
  • 15
  • 2014

Last day to file RBI Return on Foreign Liabilities and Assets and FAQ

Added In RBI / FEMA
As per Regulations notified by RBI,  every Company having Foreign Inward Investment (i.e. having Foreign Companies/Non Residents as shareholders) or Foreign Outward Investment (i.e. Foreign Subsidiary/Associate/Joint Venture or any other Foreign Investment) is required to file Annual Return on Foreign Liabilities and Assets(FLA Return).

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  • Jul
  • 01
  • 2014

RBI not to issue Fema notification on Tax Issues

Added In RBI / FEMA
Reserve Bank of India has reviewed the policy relating to issue of instructions under Foreign Exchange Management Act, 1999 (FEMA), clarifying tax issues. It has now been decided that Reserve Bank of India will not issue any instructions under the FEMA, in this regard. It shall be mandatory on the part of Authorised Dealers to comply with the requirement of the tax laws, as applicable.

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  • Jul
  • 01
  • 2014

RBI issues Master Circular updated till 30.06.2014

Added In RBI / FEMA
Like Every Year this Year also RBI has issued Master Circular on all the subjects which are updated till 30th June 2014. All these master circulars can be accessed directly on RBI Website at the following link :- http://rbi.org.in/scripts/BS_ViewMasterCirculardetails.aspx Banking Regulation Master Circular – Lead Bank Scheme Master Circular – Know Your Customer (KYC) norms […]

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  • Jun
  • 26
  • 2014

Inclusion of NBFC’s as Business Correspondents – RBI implements recommendation of Nachiket Mor Committee

Added In RBI / FEMA
The concept of “Business Correspondents” can be dated back to 2006 when a significant step in this direction was taken by way of issue of RBI guidelines in January 2006 (2006 guidelines)[1] for engagement of Business Correspondents by banks for providing banking and financial services.

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