Fema / RBI articles

RBI rules on customer’s liability on unauthorized electronic banking transactions (Frauds)

On 6th July , 2017, RBI has come out with a new circular capping the liabilities of Bank customers in the event of unauthorized electronic banking transactions (put simply, frauds). The guidelines given in the circular is applicable for all Commercial banks, Small banks and payment banks in India....

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Posted Under: Fema / RBI |

Digital Currency- A New Era

Digital currency or digital money is distinct from physical. Digital currency is a payment method which exists only in electronic form and is not tangible. Digital currency can be transferred between entities or users with the help of technology like computers, smartphones and the internet. ...

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Posted Under: Fema / RBI |

Standard Operating Procedure for FDI in India

The Finance Minister in his budget speech for FY 2017-18 had included a significant proposal of abolishing the Foreign Investment Promotion Board (FIPB) and replace it with a decentralized mechanism at the respective ministry level to examine and approve FDI proposals in India....

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Posted Under: 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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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...

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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)...

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Posted Under: Fema / RBI |

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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Posted Under: Fema / RBI |

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 latest Guidelines on Branch expansion and outreach among underserved areas for Banks

Reserve Bank of India vide its circular dated May 18, 2017 has issued detailed guidelines on branch expansion of banks. 1. Scope These guidelines are applicable to all domestic Scheduled Commercial Banks (excluding Regional Rural Banks), Small Finance Banks, Payment Banks, and Local Area Banks. These are effective from May 18, 2017. A ...

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Posted Under: Fema / RBI |

Prompt Corrective Action (PCA) : A Reality Check

The Reserve Bank of India (RBI) has come out with a revised prompt corrective action (PCA) framework for banks, spelling out certain thresholds, the breach of which could invite resolutions such as a merger with another bank or even shutting down of the bank....

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Posted Under: Fema / RBI |
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