Fema / RBI News, Articles, Notifications and Forms

  • Aug
  • 28
  • 2014

A Financial Conditions Index for India

Added In RBI / FEMA
Financial market variables contain information about the future state of the economy. Changes in financial variables often translate into changes in the real economy. Very often financial variables send contradictory signals to economic agents. Further, acute information asymmetry exists in financial markets especially around trigger events during times of crises.

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  • Aug
  • 28
  • 2014

Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India

Added In RBI / FEMA
With a view to providing flexibility in regard to the manner in which government securities can be acquired by eligible investors, it has now been decided to remove any stipulation as to the manner of acquisition from the said Regulations. Consequently, the eligible investors can acquire such securities in any manner as per the prevalent/approved market practice.

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  • Aug
  • 27
  • 2014

6 Easy Steps to Opening a Bank A/c & Opening of A/c without ‘proof of identity’

Added In RBI / FEMA
1. How can I open a bank account? It is very simple. To open a bank account you need to give a ‘proof of identity and address’ alongwith a recent photograph. 2. What are the documents to be iven as ‘proof of identity’ and ‘proof of address’ by me? Any one of the documents such […]

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  • Aug
  • 27
  • 2014

Refinancing of ECB at lower all-in-cost – Simplification of procedure

Added In RBI / FEMA
On a review, it has been decided to simplify the procedure by delegating powers to the AD Category – I banks to approve even those cases where the AMP of the fresh ECB is exceeding the residual maturity of the existing ECB under the automatic route subject to the following conditions:

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  • Aug
  • 26
  • 2014

KYC Document for opening a Bank Account & RBI Measures for simplification

Added In RBI / FEMA
1. Single document for proof of identity and proof of address- There is now no requirement of submitting two separate documents for proof of identity and proof of address. If the officially valid document submitted for opening a bank account has both, identity and address of the person, there is no need for submitting any other documentary proof.

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  • Aug
  • 26
  • 2014

Pay IT dues in advance at RBI or at authorised bank branches

Added In RBI / FEMA
The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks. These will obviate […]

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  • Aug
  • 25
  • 2014

RBI amends norms for lending against shares by Systemically Important NBFCs

Added In RBI / FEMA
Reserve Bank of India (RBI) vide its notification dated August 21, 2014[1] has come up with amendment in norms for regulating lending against shares by (NBFC-SI), i.e. (NBFCs having a net worth of 100 crores or more) effective from Thursday, the 21st of August, 2014.

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  • Aug
  • 15
  • 2014

Cash withdrawals from ATMs: Free transactions reduced to 3 in six Cities

Added In RBI / FEMA
RBI rationalises Number of Free Transactions on ATMs The policy framework of the Reserve Bank has aimed at fostering the growth of non-cash payments. The number of Automated Teller Machines (ATMs), which stood at a little over 27,000 as at end-March 2007, has increased to over 1.6 lakh across the country by end-March 2014. The […]

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  • Aug
  • 15
  • 2014

Setting up a Company abroad by Indian Residents-Regulatory Requirements

Added In RBI / FEMA
With the advent of Globalization, more and more Indians are interested in doing business outside India. They want to set-up a branch office or a subsidiary abroad. There are multiple benefits of doing so such as cost reduction because they save on import duty, ease of doing business, building an international brand etc.

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