Fema / RBI News, Articles, Notifications and Forms

  • May
  • 21
  • 2015

Review of FDI Policy on investments by NRIS, PIOs, OCIs

Added In RBI / FEMA
Review of Foreign Direct Investment (FDI) Policy on investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to review of Foreign Direct Investment (FDI) Policy on investments by Non-Resident Indians (NRIs), Persons of […]

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  • May
  • 18
  • 2015

Consolidated FDI Policy of 2015 – Key changes & Comparative

Added In RBI / FEMA
The Ministry of Commerce & Industry released the consolidated Foreign Direct Investment policy of 2015 effective from May 12, 2015. We list below the key changes. Further, a detailed comparative of changes incorporated in FDI Policy 2015 juxtaposed with the consolidated FDI policy of 2014 is specified in Annexure A.

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  • May
  • 16
  • 2015

RBI Dispenses requirement of declaring export of Goods /Software in SDF

Added In RBI / FEMA
To further liberalise and simplify the procedure, it has been decided to dispense with the requirement of declaring the export of Goods /Software in the SDF in case of exports taking place through the EDI ports, as the mandatory statutory requirements contained in the SDF have been subsumed in the Shipping Bill format.

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  • May
  • 16
  • 2015

FEMA: Form A2 not applicable while remitting FCNR (B) funds

Added In RBI / FEMA
It is clarified that A2 form is to be filed at the time of purchase of foreign exchange using rupee funds and hence is not applicable while remitting FCNR (B) funds. Further, banks, with the help of technology, will have to devise better alternatives/ methods for ensuring bonafides of the transaction rather than insisting on physical presence of the account holder, in order to ensure hassle free remittance of funds to the account holder.

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  • May
  • 15
  • 2015

Amendment in Guideline for Infrastructure Debt Funds (IDFs)

Added In RBI / FEMA
On a review in consultation with the Government of India, it has been decided to amend the Directions so as to allow entry of IDF-NBFCs into sectors where there is no presence of a Project Authority. Accordingly, the Directions have been amended as given in the subsequent paragraphs:

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  • May
  • 15
  • 2015

RBI relaxes mandate of Additional Factor of Authentication for small value card

Added In RBI / FEMA
Reserve Bank relaxes mandate of Additional Factor of Authentication (AFA) for small value card present transactions using contactless technology The Reserve Bank has today released the final circular on the relaxation in requirement of additional factor of authentication (AFA) for small value card present transactions for values up to ₹ 2,000/- per transaction across all […]

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  • May
  • 15
  • 2015

Sustained Increase in Revenues, A Key to Successful Fiscal Consolidation At States Level –

Added In RBI / FEMA
Today, the Reserve Bank of India (RBI) released the report titled ‘State Finances: A Study of Budgets of 2014-15′, an annual publication that provides data, analysis and an assessment of the finances of state governments.

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  • May
  • 14
  • 2015

Reversal of excess provision on sale of NPAs to SC/RC

Added In RBI / FEMA
Please refer to para 5 (A) of our circular UBD.BPD.(PCB).Cir. No.53/13.05.000/2013-14 dated March 28, 2014 wherein it was stipulated that if the sale is for a value higher than the Net Book Value (NBV), the excess provision will not be reversed, but will be utilised to meet the shortfall/loss on account of sale of other financial assets.

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  • May
  • 14
  • 2015

Frequently Asked Questions on NBFCs

Added In RBI / FEMA
The Reserve Bank of India is entrusted with the responsibility of regulating and supervising the Non-Banking Financial Companies by virtue of powers vested in Chapter III B of the Reserve Bank of India Act, 1934. The regulatory and supervisory objective, is to: a) ensure healthy growth of the financial companies;

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  • May
  • 14
  • 2015

Consolidated FDI Policy (Effective from May 12, 2015)

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Government of India Ministry of Commerce & Industry Department of Industrial Policy & Promotion Consolidated FDI Policy Circular of 2015 Subject: Consolidated FDI Policy The ‘Consolidated FDI Policy‘ is attached. 2. This Circular will take effect from May 12, 2015.

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