Fema / RBI - Page 5

Master Direction: Information Technology Framework for NBFC Sector

Master Direction DNBS.PPD.No.04/66.15.001/2016-17 (08/06/2017)

In exercise of the powers conferred in terms of clause (b) of sub-section (1) of 45-L of the Reserve Bank of India Act, 1934 (Act 2 of 1934), the Reserve Bank of India being satisfied for the purpose of enabling it to regulate the credit system of the country to its advantage it is necessary so to do, hereby issues Master Directions - Inf...

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RBI Second Bi-monthly Monetary Policy Statement, 2017- 18

Press Release : 2016-2017/3304 (07/06/2017)

Since the April 2017 meeting of the MPC, global economic activity has expanded at a modest pace, supported by firming growth in major advanced economies (AEs) and in some emerging market economies (EMEs) as well. ...

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Posted Under: Fema / RBI |

RBI tightens norms for issuance of Masala Bonds

RBI/2016-17/316 A. P. (DIR Series) Circular No. 47 (07/06/2017)

RBI has today tightened the norms for issuance of masala bonds by Indian corporates – raising of such INR denominated debt would now be subject to RBI approval, will have to adhere to all-in-cost ceilings (earlier permitted at arm’s length) and cannot be issued to related parties. ...

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Aadhaar mandatory for opening bank account- Govt notifies rules

Notification No. G.S.R. 538(E) (01/06/2017)

(1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. (2) They shall come into force on the date of their publication in the Official Gazette....

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Introduction of Legal Entity Identifier for OTC derivatives markets

RBI/2016-17/314 (01/06/2017)

The Legal Entity Identifier (LEI) code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction....

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Section 8 Microfinance companies: Overview, Requirements & Registration

Microfinance is a source of financial services for entrepreneurs and small businesses, it is a type of Non-Banking Financial Company (NBFC) which is in a business of micro credit finance to individuals and small business. It is also known as Micro Finance Institution (MFI)....

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Submission of SFT relating to issue of Bonds for ₹ 5 lakh or more- Reg.

RBI/2016-17/313 IDMD.CDD.No.3058/13.01.299/2016-17 (30/05/2017)

It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI....

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Major FCRA Compliances

Following MAJOR Forms are required to be filed under The Foreign Contribution (Regulation) Act (FCRA), 2010 (All the below given forms are to be filed online only)...

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RBI latest Guidelines on Branch expansion and outreach among underserved areas for Banks

Reserve Bank of India vide its circular dated May 18, 2017 has issued detailed guidelines on branch expansion of banks. 1. Scope These guidelines are applicable to all domestic Scheduled Commercial Banks (excluding Regional Rural Banks), Small Finance Banks, Payment Banks, and Local Area Banks. These are effective from May 18, 2017. A ...

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Posted Under: Fema / RBI |

RBI advisory to banks on Submission of SFT

RBI/2016-17/309 IDMD.CDD.No.3031/13.01.299/2016-17 (25/05/2017)

RBI Advisory on Submission of Annual Information Return now known as Statement of Financial Transaction (SFT) relating to issue of Bonds for ₹ 5 lakh or more under Section 285 BA of Income Tax Act, 1961- ...

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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.