The establishment of a branch office/ liaison office or any other place of business in India by foreign entities is regulated in terms of Section 6(6) of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 22(R)/2016-RB dated March 31, 2016. These Regulations are amended from time to time to incorporate the changes [...
Read MoreIndia is a developing market with intriguing foreign exchange (forex) trading. Long-term positive gains from trading Indian forex are possible if you have patience. There are lots of investors hoping to profit from the currency market's possibilities....
Read More(A) RBI’s Preliminary under RBI Act, 1934 (Chapter-I) 1 RBI’s Act, 1934 + Applicability (Section-1) RBI Act, 1934 is applicable to whole of India including the J & K 2. RBI’s Act, 1934 + Definitions (Section-2) (i) Meaning of Bank Note (section 2(aiv)) Include a Bank note as issued by RBI in physical + digital […]...
Read MoreThe nature of any particular receipt as capital or revenue is one of the fundamental steps in deciding the taxability of any income. Unfortunately, Income Tax Act, 1961 (as ‘IT Act’) does not provide any unambiguous explanation for the terms ‘capital receipt’ or ‘revenue receipt.’ With the advent of capital market transactions...
Read MoreRBI Reporting in Form of FC-TRS Regarding Transfer of Shares From Resident to Non-Resident / Non-Resident to Resident REPORTING OF FOREIGN CURRENCY TRANSFER OF SHARE- FC-TRS FC-TRS is a reporting form regarding the transfer of shares / compulsorily and mandatorily convertible preference shares (CMCPS) / debentures /others by way of sale f...
Read MoreBanking sector has to make a big contribution to making India a developed nation by 2047: Union Finance Minister Smt. Nirmala Sitharaman at 75th AGM of Indian Banks’ Association Union Finance Minister exhorts banks to plan for next 25 years, embracing digital, modern technologies and seamless systems which talk to each other “Use tech...
Read MoreReserve Bank of India Alert List The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. This list...
Read MoreMauritius was successfully upgraded on Recommendation 15 to 'Largely Compliant' and With this technical compliance upgrade, Mauritius is now Compliant or Largely Compliant with all 40 FATF Recommendations....
Read MoreED has seized immovable property at Thanjavur valued at Rs. 8.94 Crore belonging to M/s G V Films Limited, Chennai under FEMA, 1999 in connection with siphoning off foreign exchange in the guise of issuance of 6.4 million number of Global Depository Receipts (GDR) to the tune of Rs. 345.6 Crore. Press Release 01.09.2022 Directorate [&hell...
Read MoreThe growing size of the corporate bond market and the number of issuances every year are important indicators of the success of the development efforts of the Government and regulators....
Read MoreMuneesh Suneja Vs Chief Enforcement Officer (Punjab & Haryana High Court) - Punjab & Haryana High Court held that as the initial recovery against the co-accused stands acquitted, enhancement of sentence of the petitioner who was nominated on their statements becomes unsustainable in law....
Read MoreKrishna Murarai Poddar Vs State of West Bengal & Anr. (Calcutta High Court) - Calcutta High Court held that conjoint reading of section 18(1)(c) and section 18(1)(a) of the Foreign Exchange Regulation Act, 1973 definitely propagate that the duty to get the sale proceeds of export to be repatriated expiry with the statutory period of six months....
Read MoreVivek Narayan Sharma Vs. Union of India (Supreme Court) - SC upholds Central Government decision on demonetisation of 500 & 1000 rupee notes by a Majority of 4:1 in the case of Vivek Narayan Sharma Vs. Union Of India....
Read MoreFirst Global Stockbroking P Ltd. Vs R. M. Ramchandani (Bombay High Court) - Bombay High Court held that the Adjudicating Authority is not authorized to issue show cause notice under the Foreign Exchange Management Act (FEMA), 1999 for violations of provisions in Foreign Exchange Regulation Act (FERA), 1973....
Read MoreState Bank of India Vs Arvindra Electronics Pvt. Ltd (Supreme Court of India) - Supreme Court held that no borrower can, as a matter of right pray for a grant for the benefit of onetime settlement scheme and writ of mandamus cannot be issued by the High Court in exercise of Article 226 of the Constitution of India, directing the financial institution/bank to positively grant ...
Read MorePress Release: 2022-2023/1614 - (25/01/2023) - Discussion Paper on Securitisation of Stressed Assets Framework (SSAF) broadly covers nine relevant areas of the framework including asset universe, asset eligibility, minimum risk retention, regulatory framework for special purpose entity and resolution manager, access to finance for resolution man...
Read MoreRBI/2022-23/168 CO.CEPD.PRS.No.S1233/13-01-018/2022-2023 - (23/01/2023) - In many cases, the banks are yet to inform the customers about the need for renewal of agreements before January 1, 2023. Further, there is a need for revision in the Model Agreement drafted by the Indian Banks’ Association (IBA) to fully comply with the revised instructions....
Read MoreRBI/2022-23/169 FMRD.FMID.No.07/14.01.006/2022-23 - (23/01/2023) - RBI designate all Sovereign Green Bonds issued by the Government in the fiscal year 2022-23 as ‘specified securities’ under FAR....
Read MoreRBI/DOR/2022-23/95 DOR.HOL.No.95/16.13.100/2022-23 - (16/01/2023) - Any person who intends to acquire shares or voting rights in a banking company beyond the limit for which approval was obtained from the Reserve Bank, is required to apply to the Reserve Bank for prior approval to increase their aggregate holding in the banking company....
Read MoreNotification No. RBI/2022-23/163, IDMD.No.S2800/08.02.032/2022-23 - (11/01/2023) - All market participants are, advised to utilize Price / Yield range setting facility provided on e-Kuber platform before placing bids in Primary Market auctions....
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Press Release: 2022-2023/1614 - 25/01/2023
RBI/2022-23/168 CO.CEPD.PRS.No.S1233/13-01-018/2022-2023 - 23/01/2023
RBI/2022-23/169 FMRD.FMID.No.07/14.01.006/2022-23 - 23/01/2023