reserve bank of india

Mauritius Treaty - A Joint Working Group (JWG) was constituted in 2006 for the purpose of renegotiating the Direct Taxation Avoidance Convention with Mauritius and its last meeting was held in 2008. Thereafter, India has successfully used the mechanism of the Peer Review Group (PRG) of the Global Forum for Transparency and Exchange of Information for Tax Purposes – of which India is Vice Chair – to leverage arguments with the Mauritian side to be more open in furnis.. Full Article

mt. Shyamala Gopinath, Deputy Governor relinquished the office of Deputy Governor of the Reserve Bank of India in the forenoon today. Smt. Gopinath was appointed Deputy Governor of the Reserve Bank of India on September 21, 2004 for a period of five years. On completion of her term, she was re-appointed for a further period up to June 20, 2011. Full Article

Shri P. Vijaya Bhaskar assumed charge as Executive Director of the Reserve Bank of India on June 13, 2011. As Executive Director, Shri Bhaskar will look after Central Security Cell, Department of Banking Supervision and Department of Non-Banking Supervision. Prior to his appointment as Executive Director, Shri Bhaskar was the Regional Director of Karnataka. Full Article

Admitting that the Reserve Bank’s anti-inflation monetary measures may impact growth, Finance Minister Pranab Mukherjee on Friday said the major challenge right now is to contain price rise. 'The monetary policy has been gradually tightened... Monetary measures may end up moderating the growth if they have to be persisted for an extended period of time,' Mr. Mukherjee said at an Assocham meet here. Full Article

With a view to providing more operational flexibility to Indian corporates having investments abroad, Reserve Bank of India (‘RBI’) has decided to further liberalize / rationalize the regulations relating to overseas direct investment by Indian parties by making certain changes vide Rationalization (A.P. (DIR Series) Circular No. 69) dated 27.05.2011. Full Article

There is a legal framework regulated by the Reserve Bank of India for the opening of bank accounts overseas by Indian residents and for outward or inward remission of funds through authorized channels. The existing legal framework for dealing with illicitly generated funds transferred overseas and measures for the attachment and repatriation of such illegal assets to India and provision for penalties for offenders are: Full Article

As a measure of providing operational flexibility to Indian Corporates investing / having investments abroad, the Reserve Bank of India has further liberalised and rationalised its Overseas Direct Investment Regulations vide A. P. (DIR Series) Circular No. 69 dated 27 May 2011as outlined below. Full Article

The Reserve Bank of India has cancelled the licence of Jalagoan-based Chopda Urban Co-operative Bank as it had ceased to be solvent and depositors were being inconvenienced by continued uncertainty. The banking regulator delivered the order cancelling the bank's licence after close of business on May 24, a release said on Tuesday. Full Article