Fema / RBI - Page 5

All banking payment systems to remain closed on April 1, 2017

RBI/2016-17/260 DPSS.CO.CHD.No./2720/03.01.03/2016-17 (29/03/2017)

All payment systems, including RTGS and NEFT would operate, as on a normal working day, during the period March 25 to April 1, 2017 (including Saturday, Sunday and all holidays). ...

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CBI registers case against Syndicate Bank Managers, CA, Builder etc.

CBI registered case on a complaint from Syndicate Bank against two then AGMs & two then Chief Managers of Syndicate Bank and six private persons including CA, Builder etc. related to a fraud in its two branches at Jaipur and one at Udaipur (Rajasthan). ...

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Posted Under: Fema / RBI |

Formation of 7 new districts in Manipur: Lead Bank Responsibility Assignment

RBI/2016-17/258 FIDD.CO.LBS.BC.No.24/02.08.001/2016-17 (27/03/2017)

The Government of Manipur vide Gazette Notification dated December 14, 2016 has issued a corrigendum rectifying the Sub Divisions of districts Senapati and Kangpokpi as detailed below:-...

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Payment systems to remain open on all days from 25.03.2017 to 01.04.2017

RBI/2016-17/257 DPSS.CO.CHD.No./2695/03.01.03/2016-17 (25/03/2017)

It has been decided that all payment systems, including RTGS and NEFT would operate, as on a normal working day, during the period March 25 to April 1, 2017 (including Saturday, Sunday and all holidays). ...

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An Analysis of Properties and Sources of Divergence

Press Release : 2016-2017/2556 (24/03/2017)

A key feature of the inflationary process during 2015-16 was the large divergence in the Consumer Price Index (CPI) and Wholesale Price Index (WPI) inflation....

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Banks to remain open on all days from 25.03.2017 to 01.04.2017

RBI/2016-17/256 DBR.No.Leg.BC.55/09.07.005/2016-17 (24/03/2017)

All Agency Banks are advised to keep all their branches dealing with government business open on all days in the current financial year and on April 1, 2017 (including Saturday, Sunday and all holidays)....

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Railway official booked for accepting demonetized currency notes

Cbi registers a case against an official of itarsi railway station and others for allegedly depositing old notes of rs.61 lakh (approx).The accused cheated the Government by accepting the licence fee in cash in the form of demonetized currency notes in violation of Government notification....

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Posted Under: Fema / RBI |

Special Clearing operations of banks on March 30 and 31, 2017

RBI/2016-17/255 DPSS.CO.CHD.No./2656/03.01.03/2016-17 (23/03/2017)

With a view to facilitate accounting of all the Government transactions for the current financial year (2016-17) by March 31, 2017, it has been decided to conduct special clearing at all clearing houses across the country on March 30 and 31, 2017 as detailed below:...

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Bank Revenue Audit tip on Penal Interest

In CBS environment , most of the times , Management response is usually as All charges calculation and charging is done by system , there's no chance of under recovery....

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Posted Under: Fema / RBI |

Case against two SBI officials for alleged violation of RBI guidelines

It was alleged that during the period between 15.11.2016 and 25.11.2016, the Senior Special Assistant and Deputy Manager (Operations) of State Bank of India entered into a criminal conspiracy while the restrictions on distribution of currency notes due to demonetization were in force....

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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.

 

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