Fema / RBI - Page 10

Cash withdrawal Limit for Current / CC / OD Account & ATM withdrawn

RBI/2016-17/217 DCM (Plg) No. 2905/10.27.00/2016-17 (30/01/2017)

Limits placed vide the circulars cited above on cash withdrawals from Current accounts/ Cash credit accounts/ Overdraft accounts stand withdrawn with immediate effect....

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Prohibition on direct investment in countries identified by FATF

RBI/2016-17/216 A.P. (DIR Series) Circular No. 28 (25/01/2017)

Prohibition on Indian Party from making direct investment in countries identified by the Financial Action Task Force (FATF) as Non Co-operative countries and territories...

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Note ban has negative impact on SMEs; large firms can benefit in long run

Demonetisation of high value currency notes would leave quite a negative impact on small and medium enterprises, rural consumption and job creation in the immediate run while the large and well organised sectors of the corporate India stand to benefit in the long term horizon, the latest ASSOCHAM Bizcon Survey pointed out....

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Posted Under: Fema / RBI |

Note scrapping cannot stop future generation of black money

Demonetisation may wipe out the stock of black money held in cash but can do little about the ill-gotten wealth converted to assets like gold and real estate and the scrapping of high value notes does not prevent the future generation of unaccounted money, said an ASSOCHAM study on Currency Demonetisation....

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Digital payment promotion and cashless economy gets a boost

Digital payment promotion gets a boost-More than 3.81 lakh consumers and 21,000 merchants win prizes worth Rs.60.90 crore at Digi-Dhan Melas...

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Posted Under: Fema / RBI |

Co-operative Banks barred from accepting deposits under PMGK Deposit Scheme

S.O. 204(E) (19/01/2017)

It is clarified that Co-operative Banks are not authorised banks to accept deposits under PMGKDS, 2016. Application for the deposit in the form of Bonds Ledger Account shall be received by any banking company, other than Co-operative Banks, to which the Banking Regulation Act, 1949 (10 of 1949) applies....

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Consolidated FDI Policy Circular 2017- Invite comments from stakeholders

Comments/ suggestions on 'Consolidated Foreign Direct Investment Policy Circular of 2016' are invited from stakeholders by 27/01/2017 for consideration....

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Posted Under: Fema / RBI |

RBI (Access Criteria for Payment Systems) directions 2017

RBI/DPSS/2016-17/51 Master Direction DPSS.CO.OD.No.1846/04.04.009/2016-17 (17/01/2017)

These directions are issued with a view to providing a framework for scheduled/ licensed banks/ primary dealers /authorised PSPs enabling them to apply for membership of payment systems....

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All about transfer of shares of a Private/ Unlisted Indian Company from resident to non-resident

This article describes the FEMA/RBI guidelines for transfer of shares from resident to non-residents alongwith the corresponding tax implications of transfer/sale of shares by an Indian resident. ...

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New Cash Withdrawal limits- Rs. 10K for ATMs & 100K for Current A/c

RBI/2016-1 7/213 DCM (Plg) No. 2559 /10.27.00/2016-17 (16/01/2017)

Limit on withdrawals from ATMs enhanced to Rs.10,000/- per day per card and on withdrawal from current accounts has been enhanced to Rs.1 ,00,000/- per week....

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Latest RBI / FEMA News

Check out all the latest news on RBI together with all the important RBI notifications, RBI circulars, RBI rates including top stories on FEMA Act and FEMA Regulations only at Taxguru.com

The RBI (Reserve Bank of India) is India’s Apex bank which governs the banking regulations in the country and controls all the monetary policies of the country. It began its operations 1st of April 1935 at the time of British Rule as per the provisions laid down in the Reserve Bank of India Act, 1934. After India’s independence on 15th August 1947, the Reserve Bank of India was nationalized on 1st January 1949.

Reserve Bank of India is an independent monetary authority that regulates banks and offers important financial services such as controlling inflation, maintaining foreign exchange reserves, and providing monetary policy report. It plays a significant role in developing strategies of the Indian Government.

The FEMA Act (Foreign Exchange Management Act) is an Act constituted by the Indian Parliament for consolidating and amending the law related to foreign exchange for facilitating the external trade and payments and also for encouraging orderly maintenance and development of foreign exchange market in the country. This act was passed in the year 1999 during the winter session which replaced the previous Foreign Exchange Regulation Act (FERA). The FEMA Regulations makes offenses with respect to foreign exchange civil offenses.This Act extends and is applicable for the entire nation. FEMA Act allowed a new regime for foreign exchange management that is consistent with the World Trade Organization’s emerging framework.

At Taxguru, we provide you with all the RBI latest news, RBI circulars, RBI notifications and all the updates with respect to FEMA Act and FEMA regulations. We keep you posted with all the latest updates on RBI rates and RBI rate charts. At Taxguru, our team ensures we publish all the latest RBI news. Bookmark us to get all the latest news on RBI and FEMA.

 

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