Fema / RBI

FCRA Registration, Prior permission & Renewal of Registration

Every person having a definite cultural economic educational religious or social program shall accept Foreign Contribution only after obtaining a certificate of registration from the central government and there are two modes for obtaining permission to accept foreign contribution under FCRA let us discuss the same i. Registration ii. Pri...

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RBI: Regulation, supervision and financial stability, 2021

Let us learn the achievements of RBI during the pandemic, its noble goals of alignment with the long-term objective of streamlining regulatory and supervisory framework across regulated/supervised entities to maintain conformity among global practices. RBI while harnessing technology for customer services, undertook fraud detection and co...

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Foreign Liabilities and Assets (FLA)

Foreign Liabilities and Assets (FLA) is an Annual Return which is to be submitted by all those Indian Resident Companies which have received Foreign Direct investment (FDI) and/or made Investment Overseas (FDI Abroad) in previous year(s) which shall also include information of the current year. This return needs to be filed by July 15 eve...

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How to setup project office in India

Foreign companies incorporating private limited company for executing a limited period contract in India and face lots of legal compliances from starting to closing of the company which wastes lots of time and recourses of the company. In order to make entry and exit easy for a foreign company who wants to execute a project […]...

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RBI: Communication policies 2.0, July 2021

By publishing on July 16, 2021, Reserve Bank of India, had amply made it clear that The Reserve Bank’s communication policy follows the guiding principles of relevance, transparency, clarity, comprehensiveness and timeliness: it strives to continuously improve public understanding of developments in the multiple domains under its ambit....

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Drastic changes in FCRA & rules relating to Charitable Trusts/NGOs causing undue hardship

Mumbai BJP Professional Cell has written a letter to Shri Amit Shah Ji and requested to lookint0 Drastic changes made in FCRA and related rules relating to Charitable and Religious Trusts (Trusts/NGOs) are  not proper and causing undue hardship to NGOs. Mumbai BJP Professional Cell Dated- 29th May, 2021 To, Shri Amit Shah Ji, Honorable [...

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Representation to RBI on Appointment of Statutory Central Auditors

Representation to the Reserve Bank of India on Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs) RBI/2021-22/25 – Ref. No. DoS. CO.ARG/SEC.01/08.91.001/2021-22 Dated April 27, 2021 About us Bombay Chartered Accountants’ So...

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Suresh Prabhu requests FM for positive policy for MSME & small business

BJP MP Suresh Prabhu has Wrote a letter to Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs regarding concerns of the MSMEs faced due to the second wave of Covid-19 pandemic and requested a positive policy response to enable the small business to tide over the crisis caused by the pandemic and protect […]...

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FCRA registration certificates validity extended up to 30.09.2021

Extension of Validity of Registration Certificates issued under The Foreign Contribution (Regulation) Act, (FCRA) 2010 Expiring/Expired during period between 29.09.2020 and 30.09.2021 The Ministry of Home Affairs (MHA) has extended the validity of registration certificates issued under the Foreign Contribution (Regulation) Act, 2010 which...

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Time period of realisation of Export Proceeds under FEMA

FEMA UPDATE > Temporary relaxation in time period of realisation of Export Proceeds- – The Government of India as well as the Reserve Bank has been receiving representations from Exporters Trade bodies to extend the period of realisation of export proceeds in view of the outbreak of pandemic COVID- 19. – It has, therefore, ...

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HC on Entitlement to extension of usance period of Letter of Credit Facility from 180 to 270 days

Rajgaria Timber Private Limited And Others Vs State Bank Of India And Others (Calcutta High Court) - The moot question raised in the writ petition is, whether the writ petitioners are entitled to an extension of the usance period of the Letter of Credit Facility sanctioned to the writ petitioners from 180 days to 270 days....

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No anticipatory bail granted to journalist who alleged of cheating depositors through ponzi schemes

Suman Chattopadhyay Vs Republic of India (Orissa High Court) - High Court had refused to grant anticipatory bail to assessee-journalists who being accused of cheating depositors through Ponzi schemes as assessee had been indicted in an economic offence which was of serious in nature and the larger angle of conspiracy with regard to patronage of political and o...

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Offence under FEMA – Distinction between two stages of adjudication process

J P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court) - J P Morgan India Private Limited Vs Special Director, Directorate of Enforcement and Anr. (Delhi High Court) Brief: Offence under FEMA – Distinction between the two stages of the adjudication process – eligible reasons by the respondent no. 1 for the formation of opinion to proceed with ...

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Secured Debts have priority against Government dues in respect of Assets against which such loan was given

State Bank of India Vs Assistant Commissioner (ST) (Madras High Court) - State Bank of India Vs Assistant Commissioner (ST) (Madras High Court) Whether the Financial Institution, which is a secured creditor, or the department of the government concerned, would have the ‘Priority of Charge’ over the mortgaged property in question, with regard to the tax and ot...

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Excess jewellery seized : ED should pass reasoned order

Banka Bullion Private Limited Vs Assistant Director & Ors. (Calcutta High Court) - Banka Bullion Private Limited Vs Assistant Director & Ors. (Calcutta High Court) With regard to the search and seizure of the excess jewellery that has been seized by the Enforcement Directorate, it is to be noted that in the writ petition, the petitioner has relied on several documents to indic...

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RBI relaxes restriction on personal loans granted to any director of other banks

Notification No. RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 - (23/07/2021) - On a review, it has been decided that For personal loans granted to any director of other banks, the threshold of Rupees twenty-five lakh, as mentioned in para 2.2.1.2, stands revised to Rupees five crore....

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Master Direction – RBI CRR and SLR Directions 2021

RBI/DOR/2021-22/80 DOR.No.RET.REC.32/12.01.001/2021-22 - (20/07/2021) - (a) These Directions shall be called the Reserve Bank of India Directions, - 2021 on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). (b) These Directions shall come into effect on the day these are placed on the official website of the Reserve Bank of India....

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Issue & Regulation of share capital & securities – Primary (Urban) Coop Banks – Draft circular

Press Release: 2021-2022/527 - (14/07/2021) - RBI has released today, the Draft Circular on ‘Issue and regulation of share capital and securities - Primary (Urban) Co-operative Banks’. Comments on the Draft Circular are invited from UCBs, sector participants and other interested parties by August 31, 2021....

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RBI takes supervisory action on Mastercard Asia / Pacific Pte. Ltd.

Press Release No. 2021-2022/530 - (14/07/2021) - RBI has today imposed restrictions on Mastercar md Asia / Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021....

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Retail Investors allowed to Open Gilt Accounts with RBI

Press Release: 2021-2022/518 - (12/07/2021) - As part of continuing efforts to increase retail participation in government securities, ‘the RBI Retail Direct’ facility was announced in the Statement of Developmental and Regulatory Policies dated February 05, 2021 for improving ease of access by retail investors through online access to the ...

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Recent Posts in "Fema / RBI"

FCRA Registration, Prior permission & Renewal of Registration

Every person having a definite cultural economic educational religious or social program shall accept Foreign Contribution only after obtaining a certificate of registration from the central government and there are two modes for obtaining permission to accept foreign contribution under FCRA let us discuss the same i. Registration ii. Pri...

Read More
Posted Under: Fema / RBI |

RBI: Regulation, supervision and financial stability, 2021

Let us learn the achievements of RBI during the pandemic, its noble goals of alignment with the long-term objective of streamlining regulatory and supervisory framework across regulated/supervised entities to maintain conformity among global practices. RBI while harnessing technology for customer services, undertook fraud detection and co...

Read More
Posted Under: Fema / RBI |

Foreign Liabilities and Assets (FLA)

Foreign Liabilities and Assets (FLA) is an Annual Return which is to be submitted by all those Indian Resident Companies which have received Foreign Direct investment (FDI) and/or made Investment Overseas (FDI Abroad) in previous year(s) which shall also include information of the current year. This return needs to be filed by July 15 eve...

Read More
Posted Under: Fema / RBI |

RBI relaxes restriction on personal loans granted to any director of other banks

Notification No. RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 23/07/2021

On a review, it has been decided that For personal loans granted to any director of other banks, the threshold of Rupees twenty-five lakh, as mentioned in para 2.2.1.2, stands revised to Rupees five crore....

Read More

How to setup project office in India

Foreign companies incorporating private limited company for executing a limited period contract in India and face lots of legal compliances from starting to closing of the company which wastes lots of time and recourses of the company. In order to make entry and exit easy for a foreign company who wants to execute a project […]...

Read More
Posted Under: Fema / RBI |

RBI: Communication policies 2.0, July 2021

By publishing on July 16, 2021, Reserve Bank of India, had amply made it clear that The Reserve Bank’s communication policy follows the guiding principles of relevance, transparency, clarity, comprehensiveness and timeliness: it strives to continuously improve public understanding of developments in the multiple domains under its ambit....

Read More
Posted Under: Fema / RBI |

All about Crypto Currency (Rules, definition, method & eligibility)

Any payment made or received in connection with a transaction of crypto currency by an Indian Resident with a person with above category will be considered as payment in the context of foreign trade and would fall under the classification of ‘Current Account Transaction’ under the FEMA....

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Posted Under: Fema / RBI |

Master Direction – RBI CRR and SLR Directions 2021

RBI/DOR/2021-22/80 DOR.No.RET.REC.32/12.01.001/2021-22 20/07/2021

(a) These Directions shall be called the Reserve Bank of India Directions, - 2021 on Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). (b) These Directions shall come into effect on the day these are placed on the official website of the Reserve Bank of India....

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Opening & Closing of Current accounts by Banks- Recent Guidelines

Now a day banks are asking its customers having CC /OD facility to close current accounts. This is as per the RBI Circular Dated 06.08.2020. As per this circular no bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system […]...

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Posted Under: Fema / RBI |

All About FCRA Registration and Renewal

Eligibility Criteria to take FCRA Registration:-The association should be registered under an existing statute like the Societies Registration Act, 1860 or the Indian Trusts Act, 1882 or Section 8 of Companies Act, 2013...

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Posted Under: Fema / RBI |

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.  

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