Fema / RBI - Page 30

RBI relaxes norms on remittance of pre-incorporation expenses

Alternative option of issuing shares instead of remittance by wholly owned subsidiary for pre-incorporation/pre-operative expenses incurred by overseas holding entities may also be a favorable move for corporate sector. ...

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Currency Crises Management – Some Ideas

#Demonetization of high value currency (Rs. 500 and Rs. 1000 notes) w.e.f. midnight of 8-9 November, 2016 is now a fortnight old decision, aftereffect of which is still worrisome and concerning....

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Demonetisation- Special measures to incentivise e-Payments

RBI/2016-17/150 DPSS.CO.PD.No.1288/02.14.006/2016-17 (22/11/2016)

Measures to incentivise Electronic Payments – (i) Enhancement in issuance limits for Pre-Paid Payment Instruments(ii) Special measures for merchants...

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Relaxation in conditions of cash withdrawal for wedding Celebration

RBI/2016-17/149 DCM (Plg) No.1346/10.27.00/2016-17 (22/11/2016)

#Demonetisation- Wedding Celebrations- A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are bein...

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Ensure Adequate cash supply during Rabi Crop Season: RBI

RBI/2016-17/148 DCM (Plg) No.1345/10.27.00/2016-17 (22/11/2016)

#Demonetisation It is estimated that about ₹ 35,000/- crore would be required by the DCCBs for sanction and disbursement of crop loans to the farmers at the rate of ₹ 10,000/- crore per week. ...

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Watch Fraudulent Act of note exchange by Bank officials: RBI

RBI/2016-17/147 DCM (Plg) No.1341/10.27.00/2016-17 (22/11/2016)

#Demonetisation Few bank branch officials, in connivance with some miscreants, are indulging in fraudulent practices while exchanging SBNs in cash / accepting SBN deposits into account....

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Demonetisation- RBI cautions public on Bank Account misuse

Press Release : 2016-2017/1283 (22/11/2016)

It is reported that certain gullible persons are exchanging demonetised notes of Rs. 500 and Rs. 1000 on behalf of other and some are even helping them by depositing the hoarded cash into their own bank accounts...

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Demonetisation- RBI increases Prepaid Instrument Limit to Rs. 20000

Press Release : 2016-2017/1282 (22/11/2016)

PPIs issuers can issue PPIs to such merchants. While balance in such PPIs cannot exceed ₹ 20,000/- at any point of time, the merchants can transfer funds from such PPIs to their own linked bank accounts upto ₹ 50,000/- per month...

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Out of big loans 3.89 Lakh Crore is NPA as on 30.06.2016

Out of loan to industrialists against whom a debt exceeding Rs.50 crore remains pending & Standing as NPA on 30.06.2016 is Rs. 3,88,919 Crores in 2071 Accounts....

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Posted Under: Fema / RBI |

Demonetised notes cannot be deposited in Small Saving Schemes

F.No. 1/04/2016-NS (22/11/2016)

Subscribers of small scheme may not be allowed to deposit old demonetised currency notes of Rs. 500 and Rs. 1000, in Small Saving Schemes....

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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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