Fema / RBI notification

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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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...

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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 do, hereby issues Master Directions - Inf...

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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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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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Introduction of Legal Entity Identifier for OTC derivatives markets

RBI/2016-17/314 (01/06/2017)

The Legal Entity Identifier (LEI) code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction....

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Submission of SFT relating to issue of Bonds for ₹ 5 lakh or more- Reg.

RBI/2016-17/313 IDMD.CDD.No.3058/13.01.299/2016-17 (30/05/2017)

It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI....

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RBI advisory to banks on Submission of SFT

RBI/2016-17/309 IDMD.CDD.No.3031/13.01.299/2016-17 (25/05/2017)

RBI Advisory on Submission of Annual Information Return now known as Statement of Financial Transaction (SFT) relating to issue of Bonds for ₹ 5 lakh or more under Section 285 BA of Income Tax Act, 1961- ...

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Issue of Pre-paid Payment Instruments by Co-operative Banks

RBI/2016-17/311 DCBR.CO.LS.(PCB/RCB).Cir.No.5/07.01.000/2016-17 (25/05/2017)

It has now been decided to permit all licenced co-operative banks having their own ATM network to issue semi-closed PPIs, provided there are no restrictions on acceptance or repayment of deposits. This is subject to the compliance with eligibility criteria and other guidelines as prescribed by Department of Payment and Settlement Systems ...

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