Fema / RBI

Turkish hangover or solace from inflation, what will drive markets?

The Turkish lira, which sank 16% on Friday, plunged yet again (6.7% yesterday) to hit a record-low of 7.22 against the dollar. Contagion fears hit other emerging market currencies as well with the EM FX index declining by 0.7%. Meanwhile, the JPY appreciated on account of its safe haven demand and the USD index rose to a 13-month high lev...

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A slow start to August, rainfall deficiency worsens

Rainfall deficiency has increased: August started on a weak note with rainfall deviation rising to -10% of normal as of 8 August from -6% of normal at the end of July. A major part of this increase in deficiency is led by lower rainfall in parts of North West and Central India in recent days (rainfall deficiency has increased to - 4% in N...

Read More

Cash on Delivery as mode of Payment – Legal status

Cash on delivery (COD) is the sale of goods by mail order where payment is made on delivery rather than in advance. The concept of COD was brought into e-commerce marketplace by home-grown e-commerce giant Flipkart way back in 2010....

Read More

RBI Policy Watch: The Long and Winding Price Road

Today’s policy decision suggests that the RBI seems to be taking a long term view on inflation rather than remaining purely data dependent. The discussion on the possible increase in inflation early next year (Estimate of Q1 2019-20 to 5%) as well the assertion that policy rate changes impact the real economy with a lag (with a shorter...

Read More

Hybrid Financing: An aid or an impediment

Nothing is available for free, even the air we inhale necessitates exhalation. Similarly, a startup requires funding in order to uplift itself from the nascent stage to a mature one. As an aid to the upliftment process, the Government of India has put forward an overture for hybrid instruments deviating itself from the traditional way of ...

Read More

Instruction for Safety of Lockers in Banks

Reserve 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 More

Audit of Banks- RBI issued guideline for Audit and Auditor appointment

With 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....

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Control and resolution of NPAs

 The 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...

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Several ATMs shown no-cash boards- Government aware of situation

Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems....

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Bankwise Gross NPA ratio of Public Sector Banks as on 31.03.2018

The gross NPA ratio for Public Sector Banks (PSBs) as a category is 14.6% in the financial year (FY) 2017-18, as per Reserve Bank of India (RBI) data. In the last 25 financial years, the gross NPA ratio for PSBs was highest in FY 1993-94 at 24.8% and was also higher in six other financial years....

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Civil Suit not Maintainable after initiation of SARFAESI Proceedings: SC

M/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...

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Govt should consider effects of IPL on Cricket & Other Sports: Bombay HC

Lalit 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. ...

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Delhi HC upholds Constitutional Validity of 2nd proviso to Section 5(1) of PMLA

J 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). ...

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SC held provisions of Section 45(1) of PMLA provision Imposing Twin Condition for granting Bail as unconstitutional

Nikesh 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. ...

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HC refuses to entertain writ petition filed, as an alternative remedy was available U/s.17 of SARFAESI Act, 2002

M/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...

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Loans to Cost more as RBI hikes key rate for second time in two months

Press Release: 2018-2019/278 & 279 - (01/08/2018) - On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5 per cent. Consequently, the reverse repo rate ...

Read More

Cautionary advice on Rice pulling Scam

Press Release : 2018-2019/270 - (31/07/2018) - It has been brought to the notice of the Reserve Bank of India that some unscrupulous persons are marketing a device termed Rice Puller made up of copper/iridium, that is claimed to possess magical properties of attracting grains of rice towards it. ...

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Short Sale (Reserve Bank) Directions, 2018

FMRD.DIRD.06/CGM (TRS)-2018 - (25/07/2018) - These Directions shall be called the Short Sale (Reserve Bank) Directions, 2018 and shall supersede all directions/guidelines issued on the subject, as listed under Annex I. These Directions shall come into force with effect from July 26, 2018....

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RBI to Issue New Design ₹ 100 Denomination Banknote

Press Release: 2018-2019/174 - (19/07/2018) - Reserve Bank of India will shortly issue ₹ 100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. ...

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Know Your Customer (KYC) Master Direction, 2016- Updated till July 12, 2018

RBI/DBR/2015-16/18 DBR.AML.BC.No.81/14.01.001/2015-16 - (20/04/2018) - In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while undertaking a transaction either by establishing an acc...

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Recent Posts in "Fema / RBI"

Turkish hangover or solace from inflation, what will drive markets?

The Turkish lira, which sank 16% on Friday, plunged yet again (6.7% yesterday) to hit a record-low of 7.22 against the dollar. Contagion fears hit other emerging market currencies as well with the EM FX index declining by 0.7%. Meanwhile, the JPY appreciated on account of its safe haven demand and the USD index rose to a 13-month high lev...

Read More
Posted Under: Fema / RBI |

Instruction for Safety of Lockers in Banks

Reserve 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 More
Posted Under: Fema / RBI |

A slow start to August, rainfall deficiency worsens

Rainfall deficiency has increased: August started on a weak note with rainfall deviation rising to -10% of normal as of 8 August from -6% of normal at the end of July. A major part of this increase in deficiency is led by lower rainfall in parts of North West and Central India in recent days (rainfall deficiency has increased to - 4% in N...

Read More
Posted Under: Fema / RBI |

Audit of Banks- RBI issued guideline for Audit and Auditor appointment

With 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 More
Posted Under: Fema / RBI |

Control and resolution of NPAs

 The 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 More
Posted Under: Fema / RBI |

Cash on Delivery as mode of Payment – Legal status

Cash on delivery (COD) is the sale of goods by mail order where payment is made on delivery rather than in advance. The concept of COD was brought into e-commerce marketplace by home-grown e-commerce giant Flipkart way back in 2010....

Read More
Posted Under: Fema / RBI |

RBI Policy Watch: The Long and Winding Price Road

Today’s policy decision suggests that the RBI seems to be taking a long term view on inflation rather than remaining purely data dependent. The discussion on the possible increase in inflation early next year (Estimate of Q1 2019-20 to 5%) as well the assertion that policy rate changes impact the real economy with a lag (with a shorter...

Read More
Posted Under: Fema / RBI |

Loans to Cost more as RBI hikes key rate for second time in two months

Press Release: 2018-2019/278 & 279 (01/08/2018)

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5 per cent. Consequently, the reverse repo rate under the LAF stands adjusted to 6.25 pe...

Read More

Cautionary advice on Rice pulling Scam

Press Release : 2018-2019/270 (31/07/2018)

It has been brought to the notice of the Reserve Bank of India that some unscrupulous persons are marketing a device termed Rice Puller made up of copper/iridium, that is claimed to possess magical properties of attracting grains of rice towards it. ...

Read More

Hybrid Financing: An aid or an impediment

Nothing is available for free, even the air we inhale necessitates exhalation. Similarly, a startup requires funding in order to uplift itself from the nascent stage to a mature one. As an aid to the upliftment process, the Government of India has put forward an overture for hybrid instruments deviating itself from the traditional way of ...

Read More
Posted Under: Fema / RBI |
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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.