Fema / RBI

NBFC-Ds: Beyond Border line of Compliances

Introduction India being the divergent Country, focused on economic growth and the Financial Institutions (“FI”) play a dominant role in the economy which spread out its surplus fund to the borrower in unbanked regions. Over the last few decades, Non Banking Financial Companies (“NBFC”) have reckoned as one of the most conspicuous...

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Compliances for NBFC Peer to Peer (P2P) Lending Platform

As per RBI Master direction the following compliances needs to complied by an NBFC P2P lending Platform: As per RBI Master direction the following compliances needs to complied by an NBFC P2P lending Platform...

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RBI’s Financial Stability Report, December 2017- An intellectual discussion on current Indian banking, economy and others

Discussion on RBI’s Financial Stability Report, December 2017 covers the distinct recovery made by the world economy effected by its increasing consumption, investment and geographical spread, the other matters such as risks emerging out of volatility in commodity price...

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Foreign Investment Promotion Board (FIPB) – Sunrise to Sunset

In the wake of 1991 wave of economic reforms FIPB was formed under the Prime Ministers Office. In 1996, it was put under the control of Department of Industrial Policy and Promotion (DIPP) and, in 2003...

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Soliloquy on the impending FRDI Bill Demon 2.0 In The Making

When the existing system is fine and there is nothing to fear about, then why need for a new Financial Resolution and Deposit Insurance (FRDI) Bill  in the present form and substance ?...

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News of discontinuation of free services by Banks is fake: IBA

Indian Banks Association clarified that some segment of social media based on misinformed communication and spreading false information that all free services of public sector banks will be ceased by January 20, 2018. In addition, there is neither a move by banks for such blanket removal of free services nor such thing is being contemplat...

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Minutes of Monetary Policy Committee Meeting December 5-6, 2017

The eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on December 5 and 6, 2017 at the Reserve Bank of India, Mumbai....

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Remove clause in FRDA Bill that has created panic among bank depositors: ASSOCHAM to Govt

Government's assurance that depositors' interest in case of a bank going down under would be fully protected should be clearly and unambiguously spelt out in the Financial Resolution and Deposit Insurance (FRDA) Bill and a clause that seeks to treat depositors as other creditors and shareholders for bail- in, must be removed, the ASSOCH...

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Main Features of Sovereign Gold Bond Scheme 2017-18 Series-III

Govt has decided to issue Sovereign Gold Bonds 2017-18 – Series-III. Applications for the bond will be accepted from October 09, 2017 to December 27, 2017. The Bonds will be issued on the succeeding Monday after each subscription period....

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98.96% of SBNs come back to the RBI after demonetization

Taking into consideration, the value of SBNs now reported to have been counted, approximately 98.96% of SBNs in value terms have come back to the RBI after demonetization. In other words, only an estimated Rs. 16000 crore worth of SBNs have not come back to the RBI so far....

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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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Man Seeks exchange of Seized old notes after discharge from case

Abhishek 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...

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Can’t allow Deposit of Old Notes After Dec 31, 2016: Centre To SC

Victory Logitrans Pvt & Anr Vs Union of India & Ors (Supreme Court of India) - The Central Government on 07th April informed the Supreme Court vide a 27-page affidavit that there is no need to open the window allowing all categories of people to deposit old demonetised notes of Rs 500 and Rs 1000 after December 31, 2016 under some special circumstances as no justifiable reason...

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PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court) - By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

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Amendment to 7.75% Savings (Taxable) Bonds 2018 Scheme

Notification No S.O. (E) - (08/01/2018) - Interest on 7.75% Savings (Taxable) Bonds 2018 will be taxable under the Income Tax Act, 1961 as applicable according to the relevant tax status of the Bond holders....

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RBI Introduces ₹ 10 banknote in Mahatma Gandhi (New) Series

Press Release: 2017-2018/1848 - (05/01/2017) - The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The...

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Master Direction – Foreign Investment in India

RBI/FED/2017-18/60 FED Master Direction No. 11/2017-18 - (04/01/2017) - Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Transfer or Issue of a Security by a Person resident Outside India) Regulations, 2017 ...

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RBI permits overseas branches/subsidiaries of Indian banks to refinance ECBs

RBI/2017-18/116 A.P. (DIR Series) Circular No.15 - (04/01/2017) - RBI permits the overseas branches/subsidiaries of Indian banks to refinance ECBs of highly rated (AAA) corporates as well as Navratna and Maharatna PSUs, provided the outstanding maturity of the original borrowing is not reduced and all-in-cost of fresh ECB is lower than the existing ECB. Partial re...

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XBRL Returns – Harmonization of Banking Statistics

RBI/2017-18/117 DBR.No.BP.BC.99/08.13.100/2017-18 - (04/01/2018) - The Reserve Bank of India had constituted an inter-departmental Task-force in December 2014, to provide “harmonised” definitions of major balance sheet/ profit and loss/ off-balance sheet items covered in the banking/ regulatory returns received across RBI departments....

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Recent Posts in "Fema / RBI"

NBFC-Ds: Beyond Border line of Compliances

Introduction India being the divergent Country, focused on economic growth and the Financial Institutions (“FI”) play a dominant role in the economy which spread out its surplus fund to the borrower in unbanked regions. Over the last few decades, Non Banking Financial Companies (“NBFC”) have reckoned as one of the most conspicuous...

Read More
Posted Under: Fema / RBI |

News of discontinuation of free services by Banks is fake: IBA

Indian Banks Association clarified that some segment of social media based on misinformed communication and spreading false information that all free services of public sector banks will be ceased by January 20, 2018. In addition, there is neither a move by banks for such blanket removal of free services nor such thing is being contemplat...

Read More
Posted Under: Fema / RBI |

Amendment to 7.75% Savings (Taxable) Bonds 2018 Scheme

Notification No S.O. (E) (08/01/2018)

Interest on 7.75% Savings (Taxable) Bonds 2018 will be taxable under the Income Tax Act, 1961 as applicable according to the relevant tax status of the Bond holders....

Read More

Compliances for NBFC Peer to Peer (P2P) Lending Platform

As per RBI Master direction the following compliances needs to complied by an NBFC P2P lending Platform: As per RBI Master direction the following compliances needs to complied by an NBFC P2P lending Platform...

Read More
Posted Under: Fema / RBI |

RBI Introduces ₹ 10 banknote in Mahatma Gandhi (New) Series

Press Release: 2017-2018/1848 (05/01/2017)

The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The base colour of the note is Chocolate Br...

Read More

RBI’s Financial Stability Report, December 2017- An intellectual discussion on current Indian banking, economy and others

Discussion on RBI’s Financial Stability Report, December 2017 covers the distinct recovery made by the world economy effected by its increasing consumption, investment and geographical spread, the other matters such as risks emerging out of volatility in commodity price...

Read More
Posted Under: Fema / RBI |

Master Direction – Foreign Investment in India

RBI/FED/2017-18/60 FED Master Direction No. 11/2017-18 (04/01/2017)

Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Transfer or Issue of a Security by a Person resident Outside India) Regulations, 2017 ...

Read More

RBI permits overseas branches/subsidiaries of Indian banks to refinance ECBs

RBI/2017-18/116 A.P. (DIR Series) Circular No.15 (04/01/2017)

RBI permits the overseas branches/subsidiaries of Indian banks to refinance ECBs of highly rated (AAA) corporates as well as Navratna and Maharatna PSUs, provided the outstanding maturity of the original borrowing is not reduced and all-in-cost of fresh ECB is lower than the existing ECB. Partial refinance of existing ECBs will also be pe...

Read More

XBRL Returns – Harmonization of Banking Statistics

RBI/2017-18/117 DBR.No.BP.BC.99/08.13.100/2017-18 (04/01/2018)

The Reserve Bank of India had constituted an inter-departmental Task-force in December 2014, to provide “harmonised” definitions of major balance sheet/ profit and loss/ off-balance sheet items covered in the banking/ regulatory returns received across RBI departments....

Read More

All about 7.75% Savings (Taxable) Bonds, 2018

RBI/2017-18/114 IDMD.CDD.No.1671/13.01.299/2017-18 (03/01/2018)

It has been decided by the Government of India to issue 7.75% Savings (Taxable) Bonds, 2018 with effect from January 10, 2018 in terms of GoI notification F.No.4(28) - W&M/2017 dated January 03, 2018....

Read More
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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.