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Legal Entity Identifier (LEI) Introduction 1. A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. 2. It is defined by ISO 17442. 3. The LEI is a global standard, designed to be non-proprietary data that is freely accessible to all. As of October 201...
Read MoreThe application form for CICs-ND-SI is available on the Bank’s website that can be easily downloaded and filled in and submitted to the Regional Office of the DNBS in whose authority, the Company is registered along with all necessary supporting documents mentioned in the application form....
Read MoreP2P lending is basically a crowd-funding model where people join to lend their money with people who are in need. In this platform there is a concept where lenders get higher interest by lending their money instead of saving and borrowers also get comparatively lower interest rates....
Read MoreSoft food prices might have kept the lid on the RBI’s policy rates but it might be important to examine why the food basket’s price trends have been much weaker than what their usual seasonal patterns imply. This might help us grapple with some key questions: Will this weakness continue and offset pressure in other […]...
Read More(Updated as on October 08, 2018) In this article we have compiled 37 frequently asked question on the Sovereign Gold Bond scheme, 2018. 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 […]...
Read MoreThe autonomy for the Central Bank, within the framework of the Reserve Bank of India (RBI) Act, is an essential and accepted governance requirement. The Government asked RBI for a review of its Economic Capital Framework (ECF) adopted in 2016....
Read MoreThis study estimates the duration of the investment cycle and examines the determinants of investment activity in India. Using the National Bureau of Economic Research (NBER) dating procedure, the study finds that the real investment rate in India followed a three-year cycle during the period from 1950-51 to 2017-18...
Read MoreReserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provided to the customer, reviewing the systems in force for their operation on an ongoing basis and taking necessary steps, having well-documented security pr...
Read MoreWith regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and selection as well as the procedure for appointment of such auditors....
Read MoreThe Gross Advances of Scheduled Commercial Banks (SCBs) increased from Rs.25,03,431 crore as on 31.3.2008 to Rs. 68,75,748 crore as on 31.3.2014, as per the Global Operations Data of the Reserve Bank of India (RBI). As per RBI inputs, the primary reasons for spurt in stressed assets have been observed to be, inter-alia, aggressive lendi...
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 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 MorePress Release : 2018-2019/1370 - (13/12/2018) - Reserve Bank of India today placed on its website a Working Paper titled Measuring Financial Capability of the Street Vendors under the Reserve Bank of India Working Paper Series*. The Paper is authored by D.V. Ramana and Silu Muduli....
Read MoreRBI/2018-19/87 DBR.BP.BC.No.12/21.04.048/2018-19 - (05/12/2018) - With a view to enhance credit discipline among the larger borrowers enjoying working capital facility from the banking system, delivery of bank credit for such borrowers shall be as under:...
Read MorePress Release No. 2018-2019/1299 - (05/12/2018) - Monetary Policy Committee (MPC) decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent. Consequently, the reverse repo rate under the LAF remains at 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent....
Read MorePress Release: 2018-2019/1300 - (05/12/2018) - Use of external benchmarks by banks for their floating rate loans instead of the present system of internal benchmarks [Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR), Base rate and Marginal Cost of Funds based Lending Rate (MCLR)]....
Read MoreNotification No. FMRD.DIRD./CGM (TRS)-2018 - (05/12/2018) - 1. These Directions shall be called the ‘Non-resident Participation in Rupee Interest Rate Derivatives Markets (Reserve Bank) Directions, 2018. 2. These Directions shall be applicable to Rupee interest rate derivative transactions in India, undertaken on recognized stock exchanges, electronic trad...
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Press Release : 2018-2019/1370 - (13/12/2018) -
RBI/2018-19/87 DBR.BP.BC.No.12/21.04.048/2018-19 - (05/12/2018) -
Press Release No. 2018-2019/1299 - (05/12/2018) -
Press Release: 2018-2019/1300 - (05/12/2018) -
Notification No. FMRD.DIRD./CGM (TRS)-2018 - (05/12/2018) -
Notification No. RBI/2018-19/84 DBR.BP.BC.No.08/21.04.098/2018-19 - (29/11/2018) -
Notification No. RBI/2018-19/83 FMRD.FMID.No.10/11.01.007/2018-19 - (29/11/2018) -
RBI/2018-19/82 DNBR (PD) CC.No.95/03.10.001/2018-19 - (29/11/2018) -
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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.
