Fema / RBI - Page 10

RBI Circular on Timelines for Stressed Assets Resolution

Notification No. RBI/2016-17/299 DBR.BP.BC.No.67/21.04.048/2016-17 (05/05/2017)

Please refer to the circular DBOD.BP.BC.No.97/21.04.132/2013-14 dated February 26, 2014 on “Framework for Revitalising Distressed Assets in the Economy – Guidelines on Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP)” and subsequent circulars/amendments in this regard....

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President assents Banking Regulation (Amendment) Ordinance, 2017 on NPA

No. 1 of 2017 (04/05/2017)

Banking Regulation (Amendment) Ordinance, 2017 enables the Union Government to authorize RBI to direct banking companies to resolve specific stressed assets (NPA)...

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RBI proposed draft regulations for Cross Border Mergers

The Reserve Bank of India (RBI) on 26th April, 2017 proposed draft of Foreign Exchange Management (Cross border Merger) Regulations, 2017 under Foreign Exchange Management Act, 1999 in relation to cross border mergers and is accepting public comments till 9th May, 2017....

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Posted Under: Fema / RBI |

A Bank Should Be Something One Can “Bank” Upon

I wish to try and simplify the mechanics of how a bank works, why we put our savings into banks, what does a bank do with our savings, when should we question which bank are we banking with, and why when such questions are asked en masse, is there a banking crisis and economic growth comes to a screeching halt....

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Posted Under: Fema / RBI |

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 special cell of Delhi Police during probe o...

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Management of non-performing asset (NPA) Perpetual self renewal programming (PSRP)

Various recommendations have been made by various study groups appointed by Government of India and RBI to arrest the incidents of accounts becoming NPA and circulars are being issued by RBI from time to time giving directions and guidance to banks and financial institutions on the steps to be taken to prevent slippage of NPA. ...

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RBI Guidelines on Merchant Acquisition for Card Transactions

Circular No. DCBR.RAD (PCB/RCB)4/7.12.001/2016-17 RBI/2016-17/296 (28/04/2017)

All co-operative banks not intending to act as Point of Sale (POS) acquiring bank are permitted to deploy third party POS terminals without prior approval of Reserve Bank of India (RBI) subject to the bank fulfilling the following criteria:...

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Requirement of Net Owned Fund for Asset Reconstruction Companies

Notification No. RBI/2016-17/295 DNBR. PD (ARC) CC. No. 03/26.03.001/2016-17 and Notification DNBR (PD-ARC) No. 05/ED(SS)-2017 (28/04/2017)

No Asset Reconstruction Company shall commence or carry on the business of securitisation or asset reconstruction without having Net Owned Fund (hereinafter referred to as NOF) of not less than Rupees two crore or such other higher amount as the Reserve Bank may, by notification, specify....

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RBI notifies Role of Chief Risk Officer (CRO)

Notification No. RBI/2016-17/294 DBR.BP.BC.No.65/21.04.103/2016-17 (27/04/2017)

As part of effective risk management, banks are required, inter-alia, to have a system of separation of credit risk management function from the credit sanction process. However, it is observed that the banks follow diverse practices in this regard....

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Draft Foreign Exchange Management (Cross Border Merger) Regulations, 2017

Press Release : 2016-2017/2909 (26/04/2017)

The Reserve Bank today has placed on its website the draft guidelines proposed to be issued on cross border merger transactions pursuant to the Rules notified by Ministry of Corporate Affairs through Companies (Compromises, Arrangements and Amalgamation) Amendment Rules, 2017 on April 13, 2017....

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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.