Fema / RBI - Page 310

RBI circular on Stand-alone Primary Dealers – Increase in Call/Notice Money Borrowing Limit

RBI/2009-10/143 IDMD.PDRD.No. 1096/ 03.64.00/2009-10 (02/09/2009)

Please refer to our Master Circular RBI/2009-10/56 IDMD.PDRS. 01/03.64.00/2009-10 dated July 1, 2009 on Operational Guidelines to Primary Dealers, in terms of which, Primary Dealers (PDs) are allowed to borrow from call/notice money market, on an average in a reporting fortnight, up to 200 percent of their Net Owned Funds (NOF) as at the ...

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RBI circular on display of information regarding Local Level Committees

RBI/2009-10/142 DBOD.No.Leg.BC. 37 /09.07.005/2009-10 (02/09/2009)

In a case which came up before the High Court of Delhi, the Honorable Court has directed that all banks should ensure that their branches display in a conspicuous place (i) essential details about the facilities under the enactment (Mental Disabilities Act); (ii) the fact that the parties can approach the Local Level Committees, for the p...

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RBI Guidelines on Exchange Traded Interest Rate Derivatives

RBI/2009-10/ 141- IDMD.PDRD.No. 1056/03.64.00/2009-10 (01/09/2009)

In the context of the Interest Rate Futures (Reserve Bank) Directions, 2009 dated August 28, 2009 issued by the Reserve Bank of India, it is clarified that stand-alone Primary Dealers (PDs) are allowed to deal in Interest Rate Futures (IRFs) for both hedging and trading on own account and not on client’s account, subject to adherence to...

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Government of India Cash Management Bills will be treated as SLR securities

RBI/2009-10/ 139, Ref: DBOD.No.Ret. BC.36/12. 02.001/2009- 10 (01/09/2009)

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II RBI/2009-10/ 139 Ref: DBOD.No.Ret. BC.36/12. 02.001/2009- 10 September 01, 2009 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 24 of the Banking Regulation Act, 1949 Maintenance of Statutory Liquidity Ratio (SLR) Plea...

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RBI circular on Payment of interest on Savings Bank Account on a Daily Product Basis – UCBs

RBI/2009-10/140 UBD (PCB) BPD Cir No. 7/13.01.000/2009-10 (01/09/2009)

On a review, it has been decided that interest on balances in savings bank accounts would be calculated on a daily product basis with effect from April 1, 2010. UCBs may ensure that they have the requisite infrastructure in place to effect a smooth transition to the revised procedure....

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RBI issued circular, relaxing existing norms on Investment Portfolio of Primary Dealers

RBI/2009-10/136 IDMD.PDRD.No. 1050/ 03.64.00/2009-10 (31/08/2009)

Banks undertaking PD activities departmentally may continue to follow the extant guidelines applicable to the banks in regard to the classification and valuation of the investment portfolio issued by our Department of Banking Operations and Development....

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Agricultural Debt Waiver and Debt Relief Scheme, 2008– Prudential Norms on Income Recognition, Asset Classification, Provisioning and Capital Adequacy

RBI/2009-10/137 DBOD.No.BP.BC. 35/21.04.048/2009-10 (31/08/2009)

The asset classification of such accounts shall be determined with reference to the original date of NPA, (as if the account had not been treated as performing in the interregnum based on the aforesaid undertaking). On such down-gradation of the accounts, additional provisions as per the extant prudential norms should also be made....

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RBI circular on Section 6 of the Banking Regulation Act, 1949 as Applicable to Co-operative Societies

RBI/2009-10/138 UBD.CO.BSD. (SCB). No.5/12.09.009/2009-10 (31/08/2009)

A reference is invited to Section 6 (1)(f) of the Banking Regulation Act (B.R. Act), 1949 (AACS), in terms of which banks may also engage in managing, selling and realizing any property which may come into its possession in satisfaction, or part satisfaction, of any of its claims....

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Foreign Trade Policy 2009-14 – IT exemption U/s.10(A) & 10(B) extended till March 2011

Announcing the foreign trade policy 2009-14 here on Thursday, Mr Anand Sharma, Union Commerce Minister said, the Government wanted to provide a stable policy environment conducive for foreign trade and accordingly, it has been decided to continue with the DEPB (Duty Entitlement Pass Book Scheme) up to December 2010 and income-tax benefits...

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Posted Under: Fema / RBI |

Major Highlights of Foreign Trade Policy 2009-14

(27/08/2009)

In cases, where the earlier authorization has been cancelled and a new authorization has been issued in lieu of the earlier authorization, application fee paid already for the cancelled authorisation will now be adjusted against the application fee for the new authorisation subject to payment of minimum fee of Rs. 200....

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Posted Under: Fema / RBI |
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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.