AD Category -I banks were required to furnish information on the number of applications received and the total amount remitted under the Liberalised Remittance Scheme (the Scheme), on a monthly basis

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 52 dated November 20, 2012 extending the enhanced period for realization and repatriation to India, of the amount representing the full value of goods or software exported, from six months to twelve months from the date of export. This relaxation was available up to March 31, 2013.

Foreign Direct Investment (FDI) in India – Issue of equity shares under the FDI scheme allowed under the Government route against pre-operative/pre-incorporation expenses

MPORT OF GOLD BY NOMINATED BANKS/AGENCIES A.P. (DIR SERIES 2012-13) CIRCULAR NO. 103, DATED 13-5-2013 Attention of Authorised Persons is invited to paragraph 97 of the Monetary Policy Statement 2013-14 dated May 3, 2013, regarding import of gold. In terms of AD (G.P. Series) circular No.7 dated March 6, 1998 (see Annexure for ready reference), [...]

It has been observed that eligible Indian parties are using overseas direct investments (ODI) automatic route to set up certain structures facilitating trading in currencies, securities and commodities. It has come to the notice of the Reserve Bank that such structures having equity participation of Indian parties have also started offering financial products linked to Indian Rupee (e.g. non-deliverable trades involving foreign currency, rupee exchange rates, stock indices linked to Indian market, etc.).

Section 9A Of The Foreign Trade (Development & Regulation) Act, 1992 – Quantitative Restrictions – Power Of Central Government To Impose – Notified Developing Countries For Purposes Of Section 9A NOTIFICATION NO. GSR 59(E) [F.NO.01/92/180/106/AM-11/PC-VI/PRA], DATED 31-1-2013 In pursuance of sub-section (4)(a) of section 9A of the Foreign Trade (Development and Regulation) Act, 1992 (22 [...]

On a review, it has been decided that the all – in – cost ceiling as specified under paragraph 4 of A.P. (DIR Series) Circular No.28 dated September 11, 2012 `will continue to be applicable till June 30, 2013 and subject to review thereafter. All other aspects of Trade Credit policy remain unchanged.

On a review, it has been decided that Authorised Money Changers (AMCs) may sell Indian rupees to foreign tourists /visitors against International Credit Cards / International Debit Cards and should take prompt steps to obtain reimbursement through normal banking channels.

On a review, to simplify the existing limits, it has now been decided to merge the existing debt limits into two broad categories as under: (i) Government Debt limit: Government securities of USD 25 billion by merging the existing sub-limits under Government securities [(a)USD 10 billion for investment byFIIs in Government securities including Treasury Bills and (b) USD 15 billion for investment In Government dated securities by FIIs and long term investors];and

NOTIFICATION NO. SO 419(E) [F.NO. 6/3/2005-ES), DATED 21-3-2013 In exercise of the powers conferred by sub-section (1) of section 43 of the Prevention of Money-Laundering Act, 2002 (15 of 2003), and in consultation with the Chief Justice of High Court of Kerala, the Central Government hereby makes the following amendments in the notification of the [...]