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Introduction: Non-resident Indians are a section of people whose roots belong to India and who have migrated from India. The Indian Government is aware of the importance of Indian Diaspora in the form of NRIs/POIs which is spread all across the world and which despite being away from India is making significant contribution to the [&helli...
Read More(Updated as on April 13, 2018) In this article we have compiled 36 frequently asked question on the Sovereign Gold Bond scheme. Sovereign Gold Bond are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed […...
Read MoreNBFC remains for a non-banking financial company registered under section 45-I of Reserve Bank of India Act, 1934. This is an essential piece of financial service Industry in the nation, creating and deploying fund for infrastructure to micro and small-medium sized industries in India. Its a somewhere part of the alternative source of fun...
Read MoreIn the February meeting, the RBI had revised its inflation forecast for the fourth quarter (2017-18) to 5.1% from 4.3%-4.7% earlier. Inflation print is now expected to be lower than the RBI’s estimate in Q4 (so far the average has been 4.8%)....
Read MoreThe word money laundering, although not very common even 30 years back has become a household phenomenon. Every scientific invention or technology has been used as a boon or a curse since time immemorial. Little did Oppenheimer know that Manhattan Project would turn out to be the forefather of the most destructive force the world shivers ...
Read MoreThere has been unusual spurt in currency demand in the country in last three months. In the current month, in the first 13 days itself, the currency supply increased by Rs.45000 crores. This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar....
Read MoreDescribing the RBI move to explore and examine introduction of official virtual currency in the country, the ASSOCHAM has, however, cautioned that extreme care be taken to ensure safety of the data trail that the crypto currency can leave as it changes hands through a range of electronic devices and platforms....
Read MoreLinking of SWIFT to the Core Banking System Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para75), a Steering Committee on Fintech related issues was constituted to consider various issues relating to development of Fintech space in India with a view to make Fintech re...
Read MoreNon-Compliant NBFCs which have not fulfilled their obligations under PML Rules asked to do so Prevention of Money Laundering Act, 2002 (PMLA) and the Rules impose obligation on reporting entities (RE’s) including Non-Banking Financial Companies (NBFC’s) to verify identity of clients, maintain records and furnish information to FIU-IND...
Read MoreThe Central Bureau of Investigation has today arrested two Directors of Kolkata based private company in an on-going investigation of a bank fraud case to the tune of Rs.515.15 crore(approx)....
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 MoreNikesh Tarachand Shah Vs. Union Of India & Anr. (Supreme Court of India) - SC held that Section 45(1) of the Prevention of Money Laundering Act, 2002, insofar as it imposes two further conditions for release on bail, to be unconstitutional as it violates Articles 14 and 21 of the Constitution of India. ...
Read MoreM/S Kanika Swami Vs State Of U.P. (Allahabad High Court) - In the present case, the petitioner has not made any representation under Section 13 (13-A) of the SARFAESI Act, 2002 before the bank and has approached this Court by-passing statutory mechanism which has been disapproved by the Supreme Court in the case of Devi Ispat Limited and another Vs. State B...
Read MoreAbhishek Shukla Vs Union of India & Ors. (Supreme Court of India) - Abhishek Shukla, who was discharged by the trial court in 2013 IPL spot-fixing case in July 2015, has moved the Supreme Court seeking a direction to the Reserve Bank of India (RBI) to accept demonetised Rs. 500 and Rs. 1,000 currency notes with a face value of Rs. 5 lakh, which was seized by the spe...
Read MorePress Release: 2017-2018/2737, - (13/04/2018) - Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bond, 2018-19-Series-I. Applications for the bond will be accepted from April 16-20, 2018. ...
Read MoreRBI/2017-18/164 IDMD.CDD.No.2652/14.04.050/2017-18 - (13/04/2018) - Sovereign Gold Bond Scheme 2018-19 Series-I, Operational Guidelines-Application forms from investors will be received at branches during normal banking hours from April 16, 2018 to April 20, 2018....
Read MoreRBI/2017-18/163 IDMD.CDD.No.2651/14.04.050/2017-18 - (13/04/2018) - The Bonds under All about Sovereign Gold Bond Scheme 2018-19 Series I may be held by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. ...
Read MoreRBI/2017-18/160 DGBA.GBD. 2573/15.02.005/2017-18 - (12/04/2018) - Interest rates on Small Savings Schemes for first quarter of financial year 2018-19 starting 1st April , 2018 shall remain unchanged from those notified for fourth quarter of FY 2017-18...
Read MoreRBI/2017-18/161 A.P. (DIR Series) Circular No. 23 - (12/04/2018) - In order to improve monitoring and also to ensure compliance with the LRS limits, it has been decided to put in place a daily reporting system by AD banks of transactions undertaken by individuals under LRS, which will be accessible to all the other ADs....
Read More
Press Release: 2017-2018/2737, - (13/04/2018) -
RBI/2017-18/164 IDMD.CDD.No.2652/14.04.050/2017-18 - (13/04/2018) -
RBI/2017-18/163 IDMD.CDD.No.2651/14.04.050/2017-18 - (13/04/2018) -
RBI/2017-18/160 DGBA.GBD. 2573/15.02.005/2017-18 - (12/04/2018) -
RBI/2017-18/161 A.P. (DIR Series) Circular No. 23 - (12/04/2018) -
Press Release: 2017-2018/2706 - (11/04/2018) -
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.
