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Q. 1 Where are the guidelines pertaining to overseas direct investments available and how to get clarifications pertaining to the guidelines on overseas investment? Ans: The guidelines have been notified by the Reserve Bank of India vide Notification No. FEMA 120/RB-2004 dated July 7, 2004, as amended from time to time, which can be acces...
Read MoreExternal Commercial Borrowings (ECB) and Trade Credits (Updated as on May 29, 2019) PART I – EXTERNAL COMMERCIAL BORROWINGS A. BASIC QUERIES 1. Where can one get the details of extant External Commercial Borrowings (ECB) and Trade Credits (TC) framework? Master Direction No. 5 on ‘External Commercial Borrowings, Trade Credits and Stru...
Read MoreRequirement and procedure for obtaining Legal Entity Identifier (LEI) code: RBI vide its notification RBI/2017-18/82 DBR No BP.BC.92/21.04.048/2017-18 has mandated to obtain LEI code for the corporate borrowers having aggregate fund-based and non-fund based exposure of Rs. 5 crore and above from any bank. Further vide circular RBI/2016-17...
Read MoreIndia has always encouraged capital inflows as a part of the development policy. Deficient domestic capital and reduction in the current account compelled the government historically to go after foreign capital. Foreign capital is money obtained from foreign countries to make investment domestically. The major category is foreign investme...
Read MoreForeign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016 (Amended upto January 21, 2019) The Reserve Bank of India makes the following regulations to prohibit, restrict and regulate establishment in India of a branch office or a liaison...
Read MoreReview of Charges for RBI-operated Payment Systems The Reserve Bank levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other fund transfers. Banks, in turn, levy charges ...
Read MoreRBI data on frauds reported to it by banks has been cited in sections of the media to paint a picture of rising frauds in banks in recent years. The fact is that this data is by the year of reporting and not the year of occurrence of the fraud or sanction of loan, Letter of Undertaking etc., which in many cases is of an earlier period....
Read MoreThe biggest risk facing these economies is the growing evidence that global growth and trade is weakening. Unsettled trade tensions and developments around Brexit are imparting further downside risks to the outlook. There is considerable uncertainty as to whether this weakness is temporary or the beginning of a recession in advanced econo...
Read MoreDate : Apr 03, 2019 RBI releases Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934 The Reserve Bank of India today released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions 2019. Comments on the draft directions are invited from banks, market participants and oth...
Read MoreReserve Bank of India will take necessary steps, including issuance of a revised circular, as may be necessary, for expeditious and effective resolution of stressed assets....
Read MoreDharani Sugars And Chemicals Ltd. Vs Union of India & Ors. (Supreme Court of India) - Hon'ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC) is ultra vires to Section 35AA of the Banking Regulation Act....
Read MoreRevati Cements Pvt. Ltd & Anr. Vs State Bank of India & Ors. (Madhya Pradesh HC) - Assessee-company being a ‘willful defaulter’ could not be represented through the lawyers or Chartered Accountants as the personal hearing was available only to borrower Director and Promoter of the alleged default unit....
Read MoreM/s Sree Anandhakumar Mills LTD. Vs M/s Indian Overseas Bank & ORS. (Supreme Court of India) - Though the case has a chequered history and the facts are long the matter lies within a short compass. The core question is one relating to the maintainability of the suit, viz., O.S. No.106 of 2009 filed by the second respondent – Nandini seeking partition wherein the order of injunction was pas...
Read MoreLalit Kumar Modi Vs Special Director (Bombay High Court) - If the IPL has resulted in all of us being acquainted and familiar with phrases such as Betting, fixing of matches, then, the RBI and the Central Government should at least now consider whether holding such tournaments serves the interest of a budding cricketer, the sport, the game itself. ...
Read MoreJ Sekar Vs. Union Of India & Ors (Delhi High Court) - The Delhi High Court has upheld the constitutional validity of the second proviso to Section 5 (1) of the Prevention of Money-laundering Act, 2002 (PMLA). ...
Read MoreRBI/2018-2019/209 DPSS.CO.OD No.2565/06.08.005/2018-2019 - (12/06/2019) - In the Section A - Directions on Governance of domestic CCPs authorised to operate in India by the RBI, the upper age limit for appointment of Managing Director, Director, Nominee Director, Independent Director and Chairperson was stipulated as 65 years....
Read MorePress Release: 2018-2019/2914 - (11/06/2019) - Reserve Bank of India Date : Jun 11, 2019 It was announced in the Part ‘B’ of the Second Bi-Monthly Monetary Policy for the year 2019-20 on June 6, 2019 that the Reserve Bank of India will constitute a Committee to Review the ATM Interchange Fee Structure with a view to give a fillip to the A...
Read MoreRBI/2018-2019/208 DPSS (CO) RPPD No.2557/04.03.01/2018-19 - (11/06/2019) - The banks are advised to pass on the benefits to their customers for undertaking transactions using the RTGS and NEFT systems with effect from July 1, 2019....
Read MoreNotification No. RBI/2018-19/206 DBR.LEG.BC.No.47/09.07.005/2018-19 - (10/06/2019) - Banks are now advised to offer the following basic minimum facilities in the BSBD Account, free of charge, without any requirement of minimum balance. i. The deposit of cash at bank branch as well as ATMs/CDMs ii. Receipt/ credit of money through any electronic channel or by means of deposit /collec...
Read MorePress Release: 2018-2019/2886 & Circular No. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 - (07/06/2019) - Accordingly, the Reserve Bank has today placed on its website the prudential framework for resolution of stressed assets by banks in the wake of the judgement of the Hon’ble Supreme Court of India....
Read More
RBI/2018-2019/209 DPSS.CO.OD No.2565/06.08.005/2018-2019 - (12/06/2019) -
Press Release: 2018-2019/2914 - (11/06/2019) -
RBI/2018-2019/208 DPSS (CO) RPPD No.2557/04.03.01/2018-19 - (11/06/2019) -
Notification No. RBI/2018-19/206 DBR.LEG.BC.No.47/09.07.005/2018-19 - (10/06/2019) -
Press Release: 2018-2019/2886 & Circular No. RBI/2018-19/203 DBR.No.BP.BC.45/21.04.048/2018-19 - (07/06/2019) -
RBI/2018-19/200 - REF.No.MPD.BC.387/07.01.279/2018-19, RBI/2018-19/199- DBR.No.Ret.BC.44/12.01.001/2018-19, RBI/2018-2019/198- FMOD.MAOG. No.133/01.18.001/2018-19 and RBI/2018-2019/197-FMOD.MAOG.No.132/01.01.001/2018-19 - (06/06/2019) -
Press Release : 2018-2019/2868 and 2018-2019/2867 - (06/06/2019) -
