Fema / RBI articles

Liberalized Remittance Scheme (LRS)

Liberalised Remittance Scheme (LRS) can be availed for purchasing or remitting foreign currency up to USD 250,000 per financial year (April- March) for permissible transactions....

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FAQs on withdrawal of Rs. 500 & Rs. 1000 Banknotes (20.04.2017)

FAQs on Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of Rs. 500 and Rs. 1000 and The Specified Bank Notes (Cessation of Liabilities) Ordinance 2016...

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Applicability of various laws on non-convertible debentures (NCD)

The Reserve Bank of India, has given the final guidelines to the agencies dealing in securities and money market instruments regarding issuance of Non-Convertible Debentures (NCDs) of original or initial maturity up to one year....

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Recovery of NPA- Recovery with a Human Touch

Supreme Court of India in its judgment on In Olga Tellis vs. Bombay Municipal Corporation (AIR 1986 SC 180 AT 193) observed, The question which we have to consider is whether the right to life includes the right to livelihood. We see only one answer to that question namely that it does. ...

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Guide to Setting up Branch Office in India by Foreign National

Two copies of the Certificate of Incorporation / Registration, Memorandum & Articles of Association of parent company duly attested by the Notary Public in the country of registration [If the original Certificate is in a language other than in English...

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Guide to Foreign National to do business in India

Foreign National have to decide in what form it wants to do business in India keeping in mind the Pros or Cons of each type of available option along with the its requirement. A branch office is not allowed to carry out manufacturing activities on its own but is permitted to subcontract these to an Indian manufacturer. Branch Offices esta...

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Issues faced by Customers on increase in Minimum Average Balance by Banks on SB A/c

In fact general customers do not have any problem with any matter except when Bank raises MAB as after raising MAB, they start charging non maintenance charges i.e. in case anyone violates that requirement - which becomes very expensive for ordinary customers. ...

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Bank Revenue Audit tip on Penal Interest

In CBS environment , most of the times , Management response is usually as All charges calculation and charging is done by system , there's no chance of under recovery....

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Understanding Basic Terms NRI/PIO/OCI & Steps to Start a Business In India

To understand how to start a business in India if you are an NRI/PIO/OCI, we should firstly get well conversant with the meaning of the terms NRI/PIO/OCI. Difference between NRI/PIO/OCI...

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Foreign Direct Investment in LLP

In this Flash editorial, the auditor begins by referring the powers of RBI for amendment in Regulation, 2000. The main thrust of the article, however, is upon the provisions / regulations of Foreign Direct Investment in Limited Liability Partnership ...

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