Fema / RBI - Page 3

Amendment in RBI directions relating to IFSC Banking Units (IBUs)

RBI/2016-17/273 DBR.IBD.BC.59/23.13.004/2016-17 (10/04/2017)

The fixed deposits accepted from non-banks by the IBUs cannot be repaid pre-maturely within the first year. However, fixed deposits accepted as collateral from non-banks for availing credit facilities from IBUs or deposited as margin in favour of an exchange, can be adjusted prematurely in the event of default in repayment of the loan or ...

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CBI register cases against Bank Post officials for RBU Guideline Violations

CBI REGISTERS A CASE AGAINST TWO OFFICIALS OF POSTAL DEPARTMENT AND OTHERS FOR ALLEGED VIOLATIONS OF RBI GUIDELINES AND CONDUCTS SEARCH CBI Press Release – New Delhi, 08.04.2017 The Central Bureau of Investigation has registered a case U/s 120 B r/w 420 & 406 of IPC and Section 13(2) r/w 13(1)(d) of the Prevention of […]...

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Checklist relating to government business for internal / concurrent audit

RBI/2016-17/271 DGBA.GAD.No.2646/31.02.007/2016-17 (07/04/2017)

Internal inspectors/auditors may verify the agency commission claims submitted by branches and confirm their accuracy during the course of their inspection/audit. The following may be specifically examined during the course of internal/concurrent audit at agency bank branches:...

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RBI kept repo rate unchanged at 6.25 per cent

Press Release: 2016-2017/2689 (06/04/2017)

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under liquidity adjustment facility (LAF) unchanged at 6.25 per cent....

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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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Statement on Developmental and Regulatory Policies, RBI

Press Release: 2016-2017/2691 (06/04/2017)

This Statement reviews the progress of various developmental and regulatory policy measures announced by the Reserve Bank in recent policy statements and sets out new measures for further refining the liquidity management framework; strengthening the banking regulation and supervision...

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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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RBI decides to permit banks to issue Perpetual Debt Instruments

In connection with developing the market for rupee denominated bonds overseas, RBI decides to permit banks to issue Perpetual Debt Instruments (PDI) qualifying for inclusion as Additional Tier 1 capital and debt capital instruments qualifying for inclusion as Tier 2 capital, by way of rupee denominated bonds overseas. ...

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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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