Fema / RBI

Widening economic reforms – Setting up of Public Credit Registry: RBI’s Epoch-making initiative

Having achieved resounding success in uplifting India’s position in ease of doing business ranking, it is expected that RBI would initiate its efforts towards setting up of a High- Level Task Force to step up the establishment of Public Credit Registry,...

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Initial Steps Towards Setting up of a Public Credit Registry for India

University and business school professors Analysts at banks, non-bank finance companies (NBFCs), rating agencies, among others ...

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The current Agenda: Restoring Public Sector Bank Health in India – Influx of funds: What history reveals?

The news that recapitalization of public sector banks with a sum of Re 2,11,000 Crores by public release of a news item by the Central government to clean up the legacy of Non- Performing Assets...

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RBI Report on MCLR Interest rate: Or simply interest rate on loans by commercial banks – what we lost or would gain

We wish our readers a happy Deepavali. We never had it so good to find that RBI would undertake whether commercial banks had really passed on any gains or losses to its customers whether on loans (various types) or deposits (yes, various types too) and pass any judgement after discussing with the banks. A common […]...

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P2P Lending – Concept and Regulations

This articles aim to introduce the concept of P2P lending and noteworthy features of RBI Master Direction on operation of P2P lending platform....

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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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Bank notes with writing or ink mark continue to be legal tender: RBI in RTI Reply

Bank notes with writing or ink mark on them continue to be legal tender, however, bank notes bearing religious or political messages will not be treated as eligible for exchange as per Note Refund Rules, 2009....

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Investments by NRIs as FDI and in stock changes

Non-Resident Indians (NRIs) can invest in India as per the following regulation of Foreign Exchange Management (Transfer or issue of Security by a person resident outside India) Regulations, 2000 dated May 3, 2000 as amended from time to time: i. As per Regulations 5(1), NRIs may invest in shares/Compulsorily Convertible Preference Shares...

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List of 53 persons, who are absconding, under PMLA, 2002

As per information received from the Directorate of Enforcement, New Delhi, the prosecution complaint has been filed against 53 persons, who are absconding, under the Prevention of Money Laundering Act, 2002. The list is attached as Annexure-A....

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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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Transaction approved by RBI & Govt not sufficient & assessee has to benchmark royalty payment separately

Sara Lee TTK Ltd Vs DCIT (ITAT Mumbai) - The assessee did not benchmark the royalty payment separately. On enquiry by the TPO, it relied on RBI approval given in 1995 and also on the fact that the assessee earned a gross profit of 41.6%. TPO applied Press Note 9 (2000 series) and restricted it to 1% on the plea that the payment was for use...

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OTC Government Securities Transaction by FPIs – Settlement Period

RBI/2017-18/97 FMRD.DIRD.05/14.03.007/2017-18 - (16/11/2017) - As announced in paragraph 13 of the Statement on Developmental and Regulatory Policies, of the fourth Bi-monthly Monetary Policy Statement for 2017- 18 dated October 04, 2017, it has now been decided to permit FPIs to settle OTC secondary market transactions in Government Securities either on T+1 or...

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Secondary market transactions in Government Securities – Notional Short Sale

RBI/2017-18/96 FMRD.DIRD.04/14.03.007/2017-18 - (16/11/2017) - In terms of RBI circulars IDMD.PCD.21/14.03.07/2011-12 dated June 21, 2012, and IDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011 market participants undertaking ‘notional’ short sale are not permitted to use securities from their HTM/AFS/HFT portfolio for delivery against the short sale....

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Agency Commission for GST receipt transactions

RBI/2017-18/95 DGBA.GBD.No.1324/31.02.007/2017-18 - (16/11/2017) - Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission....

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FEMA (Transfer or Issue of any Foreign Security) Amendment Regulation, 2017

Notification No. FEMA. 369/2017-RB - (14/11/2017) - (i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2017. (ii) They shall come into force from the date of their publication in the Official Gazette....

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Banking Facility for Senior Citizens and Differently abled Persons

RBI/2017-18/89 DBR.No.Leg.BC.96/09.07.005/2017-18 - (09/11/2017) - Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-monthly Monetary Policy Statement 2017-18, a copy of which is enclosed....

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Recent Posts in "Fema / RBI"

OTC Government Securities Transaction by FPIs – Settlement Period

RBI/2017-18/97 FMRD.DIRD.05/14.03.007/2017-18 (16/11/2017)

As announced in paragraph 13 of the Statement on Developmental and Regulatory Policies, of the fourth Bi-monthly Monetary Policy Statement for 2017- 18 dated October 04, 2017, it has now been decided to permit FPIs to settle OTC secondary market transactions in Government Securities either on T+1 or on T+2 basis. It may be ensured that al...

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Secondary market transactions in Government Securities – Notional Short Sale

RBI/2017-18/96 FMRD.DIRD.04/14.03.007/2017-18 (16/11/2017)

In terms of RBI circulars IDMD.PCD.21/14.03.07/2011-12 dated June 21, 2012, and IDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011 market participants undertaking ‘notional’ short sale are not permitted to use securities from their HTM/AFS/HFT portfolio for delivery against the short sale....

Read More

Agency Commission for GST receipt transactions

RBI/2017-18/95 DGBA.GBD.No.1324/31.02.007/2017-18 (16/11/2017)

Please refer to Para 15 of our Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission dated July 01, 2017 related to claiming of agency commission....

Read More

FEMA (Transfer or Issue of any Foreign Security) Amendment Regulation, 2017

Notification No. FEMA. 369/2017-RB (14/11/2017)

(i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2017. (ii) They shall come into force from the date of their publication in the Official Gazette....

Read More

Widening economic reforms – Setting up of Public Credit Registry: RBI’s Epoch-making initiative

Having achieved resounding success in uplifting India’s position in ease of doing business ranking, it is expected that RBI would initiate its efforts towards setting up of a High- Level Task Force to step up the establishment of Public Credit Registry,...

Read More
Posted Under: Fema / RBI |

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 Bank of India and other (2014) 5 SCC 762....

Read More

Banking Facility for Senior Citizens and Differently abled Persons

RBI/2017-18/89 DBR.No.Leg.BC.96/09.07.005/2017-18 (09/11/2017)

Please refer to Paragraph 8 of Statement on Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 as part of Fourth Bi-monthly Monetary Policy Statement 2017-18, a copy of which is enclosed....

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Simplified Hedging Facility Guidelines for Resident and non-resident entities

RBI/2017-18/88 A.P. (DIR Series) Circular No. 11 (09/11/2017)

ii. If hedging requirement of the user exceeds the limit in course of time, the designated bank may re-assess and, at its discretion, extend the limit up to 150% of the stipulated cap. iii. Hedge contracts in OTC market can be booked with any AD Cat-I bank, provided the underlying cash flow takes place with the same bank....

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Directions on Managing Risks & Code of Conduct in Outsourcing of Financial Services by NBFCs

RBI/2017-18/87 DNBR.PD.CC.No.090/03.10.001/2017-18 (09/11/2017)

In exercise of the powers conferred under Section 45 L of the Reserve Bank of India Act, 1934, the Reserve Bank of India after being satisfied that it is necessary and expedient in the public interest so to do and with a view to put in place necessary safeguards applicable to outsourcing of activities by NBFCs, hereby issues the Direction...

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Initial Steps Towards Setting up of a Public Credit Registry for India

University and business school professors Analysts at banks, non-bank finance companies (NBFCs), rating agencies, among others ...

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.