Fema / RBI - Page 319

EEFC to Earn Interest -A. P. (DIR Series) Circular No. 13 /RBI., Dated: 06.10.2007

A. P. (DIR Series) CIRCULAR NO 13 /RBI (06/10/2007)

Exchange Earner's Foreign Currency (EEFC) Account- Liberalisation -1. Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Regulation 4 of Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000 notified vide Notification No.FEMA.10/2000- RB dated 3rd May, 2000 a...

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FEMA – Update and Analysis

50/2006-07

It is clarified that Domestic Venture Capital Funds registered with SEBI, have been permitted to invest in equity and equity-linked instruments only of off-shore Venture Capital Undertakings. Accordingly, Domestic Venture Capital Funds registered with SEBI, desirous of making investments in off-shore Venture Capital Undertakings may appro...

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Posted Under: Fema / RBI |

Liberalised Remittance Scheme for Resident Individuals- Enhancement of limit from USD 100,000 to USD 200,000

RBI/2007-08/146 A. P. (DIR Series) Circular No.9 (26/09/2007)

It has been decided to enhance the existing limit of USD 100,000 per financial year to USD 200,000 per financial year (April - March) with immediate effect. Accordingly, AD Category – I banks may now allow remittance up to USD 200,000, per financial year, under the Scheme, for any permitted current or capital account transaction or a co...

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Highlights of RBI Credit Policy

Reserve Bank of India Governor Dr Y Venugopal Reddy on Tuesday presented the First Quarter Review of Annual Statement on Monetary Policy for the Year 2007-08 on Tuesday. Dr Reddy kept the interest rates unchanged, but hiked the Cash Reserve Ration by 50 basis points to 7.0 percent....

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Posted Under: Fema / RBI |

Remittances to non-residents – Deduction of tax at source

Circular No. 03/2000-RBI (19/07/2007)

We have been receiving queries from authorised dealers whether such undertaking and certificate should be obtained in all cases of remittances in foreign currency to non-residents including remittances for trade payments. ...

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FEM Transfer or Issue of Security by a Person Resident outside India (2nd Amendment) Regulations, 2003

Notification No.FEMA. 94 /2003-RB (18/06/2003)

In the Foreign Exchange Management( Transfer or Issue of Security by a person Resident outside India) Regulations, 2000, In Regulation 2, after item (vii), the following item shall be inserted, namely:- (vii) (a) ‘ Non-resident Indian (NRI) shall have the meaning assigned to it in clause (iv) of Regulation 2 of the Foreign Exchange Mana...

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Money Transfer Service Scheme (MTSS) & Guideline

Money Transfer Service Scheme ( MTSS ) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only personal remittances such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. The system envisages a tie-up between reputed money t...

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Posted Under: Fema / RBI |

Guidelines on entry of new banks in the private sector

The guidelines for licensing of new banks in the private sector were issued by the Reserve Bank of India (RBI) on January 22, 1993. Out of various applications received, RBI had granted licences to 10 banks. After a review of the experience gained on the functioning of the new banks in the private sector, in consultation with the Govern...

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Posted Under: Fema / RBI |

Notification No. FEMA 20/2000-RB, dated: 03.05.2000

Notification No. FEMA 20/2000-RB (03/05/2000)

The sale/maturity proceeds (net of applicable taxes) of shares or convertible debentures purchased under this Scheme shall be credited only to NRSR account where the purchase consideration was paid out of funds held in NRSR account and to NRO or NRSR account at the option of the seller where the purchase consideration was paid out of inwa...

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Foreign Exchange Management (Remittance of Assets) Regulations, 2000

Notification No.FEMA 13/2000-RB (03/05/2000)

Provided further that where the remittance is made in more than one instalment, the remittance of all instalments shall be made through the same authorised dealer....

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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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