Fema / RBI

NBFC Micro Finance Institution Requirements & Registration

Micro finance is a source of financial services for entrepreneurs and small businesses, it is a type of Non-Banking Financial Company (NBFC) which is in a business of micro credit finance to individuals and small business. ...

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Management of NPA: Who is Responsible for Account Becoming NPA?

Recently I have undertaken an assignment of dealing with the legal proceedings initiated by three nationalized banks under SARFAESI Act of a Corporate Company who are service providers to infrastructure projects initiated by the State Governments and Central Government and some of them are being financed by World Bank and Asian Developmen...

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Foreign Companies : India Entry options

Foreign companies in India typically operate through a Liaison Office, Project Office, Branch Office or Wholly Owned Subsidiary (WOS)...

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Section 8 Microfinance companies: Overview, Requirements & Registration

Microfinance is a source of financial services for entrepreneurs and small businesses, it is a type of Non-Banking Financial Company (NBFC) which is in a business of micro credit finance to individuals and small business. It is also known as Micro Finance Institution (MFI)....

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Major FCRA Compliances

Following MAJOR Forms are required to be filed under The Foreign Contribution (Regulation) Act (FCRA), 2010 (All the below given forms are to be filed online only)...

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RBI Second Bi-monthly Monetary Policy Statement, 2017- 18

Since the April 2017 meeting of the MPC, global economic activity has expanded at a modest pace, supported by firming growth in major advanced economies (AEs) and in some emerging market economies (EMEs) as well. ...

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Have new NPA norms for Wholesale Long Term Finance Bank: ASSOCHAM to RBI

ASSOCHAM has approached the RBI with a plea that the provisioning criteria for the non-performing assets (NPAs) in the case of proposed Wholesale Long- Term Finance (WLTF) banks should be based on stress tests of each of the funded projects, unlike the present standard provisioning norms due to a different nature of the long term, big tic...

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‘Foreign Direct Investment Inflows- A Success Story’

The Government in last three years has undertaken a number of reforms in different areas of economy. In this regard FDI policy reforms carried out by Government are nothing less than historic. ...

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Draft ‘Fugitive Economic Offenders Bill, 2017’ -Govt invite comments

It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously undermines the rule of law in India. It is, therefore, felt necessary to provide an effective, expeditious and constitutionally permissible deterrent to ensure that such actions are curbed....

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Committee to examine framework of Virtual Currencies / Bitcoins

Government constitutes an Inter- Disciplinary Committee chaired by Special Secretary (Economic Affairs) to examine the existing framework with regard to Virtual Currencies. The Committee to submit its report within three months....

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Man Seeks exchange of Seized old notes after discharge from case

Abhishek Shukla Vs Union of India & Ors. (Supreme Court of India) - Abhishek Shukla, who was discharged by the trial court in 2013 IPL spot-fixing case in July 2015, has moved the Supreme Court seeking a direction to the Reserve Bank of India (RBI) to accept demonetised Rs. 500 and Rs. 1,000 currency notes with a face value of Rs. 5 lakh, which was seized by the spe...

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Can’t allow Deposit of Old Notes After Dec 31, 2016: Centre To SC

Victory Logitrans Pvt & Anr Vs Union of India & Ors (Supreme Court of India) - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II The Central Government on 07th April informed the Supreme Court vide a 27-page affidavit that there is no need to open the window allowing all categories of people to deposit old demonetised notes of Rs 500 and R...

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PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court) - By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

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Transaction approved by RBI & Govt not sufficient & assessee has to benchmark royalty payment separately

Sara Lee TTK Ltd Vs DCIT (ITAT Mumbai) - The assessee did not benchmark the royalty payment separately. On enquiry by the TPO, it relied on RBI approval given in 1995 and also on the fact that the assessee earned a gross profit of 41.6%. TPO applied Press Note 9 (2000 series) and restricted it to 1% on the plea that the payment was for use...

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

Overseas Textiles Corporation Vs Special Director, Enforcement Directorate (Bombay High Court) - 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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Deposit of specified bank notes with Reserve Bank

G.S.R. 611(E) - (21/06/2017) - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 20th June, 2017 G.S.R. 611(E).-In exercise of the powers conferred by sub-section (1) of Section 11 of the Specified Bank Notes (Ce...

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Recording of PPO No. in passbook of Pensioners / Family Pensioners

Notification No. DGBA.GBD.No.3235/45.01.001/2016-17-RBI - (08/06/2017) - As you are aware, it has been decided to record the PPO number in all the pension passbooks of the pensioners/family pensioners issued to them. This is to alleviate the difficulties reported by pensioners/family pensioners to get duplicate Pension Payment Orders (PPO) in case of missing of original ...

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Revised Branch Authorisation Policy for unbanked villages

Notification No. FIDD.CO.LBS.BC.No 31/02.01.001/2016-17-RBI - (08/06/2017) - Rationalisation of Branch Authorisation Policy - Revision of Guidelines’ wherein final guidelines on ‘Banking Outlets’ have been issued with a view to facilitate financial inclusion as also to provide flexibility to banks on the choice of delivery channel....

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Master Direction: Information Technology Framework for NBFC Sector

Master Direction DNBS.PPD.No.04/66.15.001/2016-17 - (08/06/2017) - In exercise of the powers conferred in terms of clause (b) of sub-section (1) of 45-L of the Reserve Bank of India Act, 1934 (Act 2 of 1934), the Reserve Bank of India being satisfied for the purpose of enabling it to regulate the credit system of the country to its advantage it is necessary so to d...

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RBI tightens norms for issuance of Masala Bonds

RBI/2016-17/316 A. P. (DIR Series) Circular No. 47 - (07/06/2017) - RBI has today tightened the norms for issuance of masala bonds by Indian corporates – raising of such INR denominated debt would now be subject to RBI approval, will have to adhere to all-in-cost ceilings (earlier permitted at arm’s length) and cannot be issued to related parties. ...

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Recent Posts in "Fema / RBI"

Deposit of specified bank notes with Reserve Bank

G.S.R. 611(E) (21/06/2017)

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 20th June, 2017 G.S.R. 611(E).-In exercise of the powers conferred by sub-section (1) of Section 11 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 ( 2 of...

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NBFC Micro Finance Institution Requirements & Registration

Micro finance is a source of financial services for entrepreneurs and small businesses, it is a type of Non-Banking Financial Company (NBFC) which is in a business of micro credit finance to individuals and small business. ...

Read More
Posted Under: Fema / RBI |

Management of NPA: Who is Responsible for Account Becoming NPA?

Recently I have undertaken an assignment of dealing with the legal proceedings initiated by three nationalized banks under SARFAESI Act of a Corporate Company who are service providers to infrastructure projects initiated by the State Governments and Central Government and some of them are being financed by World Bank and Asian Developmen...

Read More
Posted Under: Fema / RBI |

Foreign Companies : India Entry options

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Foreign companies in India typically operate through a Liaison Office, Project Office, Branch Office or Wholly Owned Subsidiary (WOS)...

Read More
Posted Under: Fema / RBI |

Recording of PPO No. in passbook of Pensioners / Family Pensioners

Notification No. DGBA.GBD.No.3235/45.01.001/2016-17-RBI (08/06/2017)

As you are aware, it has been decided to record the PPO number in all the pension passbooks of the pensioners/family pensioners issued to them. This is to alleviate the difficulties reported by pensioners/family pensioners to get duplicate Pension Payment Orders (PPO) in case of missing of original PPO, transfer of pension account from on...

Read More

Revised Branch Authorisation Policy for unbanked villages

Notification No. FIDD.CO.LBS.BC.No 31/02.01.001/2016-17-RBI (08/06/2017)

Rationalisation of Branch Authorisation Policy - Revision of Guidelines’ wherein final guidelines on ‘Banking Outlets’ have been issued with a view to facilitate financial inclusion as also to provide flexibility to banks on the choice of delivery channel....

Read More

Master Direction: Information Technology Framework for NBFC Sector

Master Direction DNBS.PPD.No.04/66.15.001/2016-17 (08/06/2017)

In exercise of the powers conferred in terms of clause (b) of sub-section (1) of 45-L of the Reserve Bank of India Act, 1934 (Act 2 of 1934), the Reserve Bank of India being satisfied for the purpose of enabling it to regulate the credit system of the country to its advantage it is necessary so to do, hereby issues Master Directions - Inf...

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RBI Second Bi-monthly Monetary Policy Statement, 2017- 18

Press Release : 2016-2017/3304 (07/06/2017)

Since the April 2017 meeting of the MPC, global economic activity has expanded at a modest pace, supported by firming growth in major advanced economies (AEs) and in some emerging market economies (EMEs) as well. ...

Read More
Posted Under: Fema / RBI |

RBI tightens norms for issuance of Masala Bonds

RBI/2016-17/316 A. P. (DIR Series) Circular No. 47 (07/06/2017)

RBI has today tightened the norms for issuance of masala bonds by Indian corporates – raising of such INR denominated debt would now be subject to RBI approval, will have to adhere to all-in-cost ceilings (earlier permitted at arm’s length) and cannot be issued to related parties. ...

Read More

Aadhaar mandatory for opening bank account- Govt notifies rules

Notification No. G.S.R. 538(E) (01/06/2017)

(1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette....

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Latest RBI / FEMA News

Check out all the latest news on RBI together with all the important RBI notifications, RBI circulars, RBI rates including top stories on FEMA Act and FEMA Regulations only at Taxguru.com

The RBI (Reserve Bank of India) is India’s Apex bank which governs the banking regulations in the country and controls all the monetary policies of the country. It began its operations 1st of April 1935 at the time of British Rule as per the provisions laid down in the Reserve Bank of India Act, 1934. After India’s independence on 15th August 1947, the Reserve Bank of India was nationalized on 1st January 1949.

Reserve Bank of India is an independent monetary authority that regulates banks and offers important financial services such as controlling inflation, maintaining foreign exchange reserves, and providing monetary policy report. It plays a significant role in developing strategies of the Indian Government.

The FEMA Act (Foreign Exchange Management Act) is an Act constituted by the Indian Parliament for consolidating and amending the law related to foreign exchange for facilitating the external trade and payments and also for encouraging orderly maintenance and development of foreign exchange market in the country. This act was passed in the year 1999 during the winter session which replaced the previous Foreign Exchange Regulation Act (FERA). The FEMA Regulations makes offenses with respect to foreign exchange civil offenses.This Act extends and is applicable for the entire nation. FEMA Act allowed a new regime for foreign exchange management that is consistent with the World Trade Organization’s emerging framework.

At Taxguru, we provide you with all the RBI latest news, RBI circulars, RBI notifications and all the updates with respect to FEMA Act and FEMA regulations. We keep you posted with all the latest updates on RBI rates and RBI rate charts. At Taxguru, our team ensures we publish all the latest RBI news. Bookmark us to get all the latest news on RBI and FEMA.

 

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