RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
Fema / RBI : Individuals who receive or transfer funds on behalf of others may face prosecution under various Indian laws. The article explains...
Fema / RBI : RBI has reiterated that software and ITES exporters must submit the annual survey based on the previous financial year. The guidel...
Fema / RBI : RBI requires mutual funds to report foreign liabilities and assets annually for compilation of Balance of Payments and Internation...
Fema / RBI : This article explains why FEMA does not explicitly prohibit round-tripping transactions and how regulators instead control them th...
Fema / RBI : Service exporters must file monthly EDF declarations from October 2026 under new FEMA regulations. Non-compliance may affect eBRC ...
Fema / RBI : RBI has clarified reporting requirements, valuation methods, submission procedures, and entity obligations under the Portfolio Inv...
Fema / RBI : The amendment redefines revenue reserves by excluding provisions for liabilities and depreciation. This ensures clearer classifica...
Fema / RBI : RBI revises the definition of revenue reserves to exclude provisions and liabilities. The change enhances transparency and consist...
Fema / RBI : The Reserve Bank of India has removed a key provision from capital adequacy norms to ensure consistency with updated investment ru...
Fema / RBI : RBI introduces annual IFR assessment instead of continuous compliance for RRBs. The change reduces operational burden while mainta...
Fema / RBI : The key issue was whether cash falls within the definition of property under the PBPT Act. The Tribunal ruled that cash is a tangi...
Fema / RBI : The case examined whether Indian assets could remain seized after foreign asset value was repatriated. The Tribunal ruled that onc...
Fema / RBI : The appellant claimed the disputed funds were received unknowingly and had attempted to return them. The Tribunal granted relief b...
Fema / RBI : The Tribunal held that bank accounts cannot remain frozen merely because the account holder is related to a suspect or under inves...
Fema / RBI : The Tribunal held that retention of seized assets can continue under Section 8(3) when a PMLA prosecution complaint is already pen...
Fema / RBI : RBI amended governance rules for Rural Co-operative Banks after observing that some directors were briefly resigning and returning...
Fema / RBI : RBI amended governance rules for Urban Co-operative Banks after finding directors briefly resigning and rejoining boards to bypass...
Fema / RBI : RBI issued revised draft directions to regulate recovery practices of banks, NBFCs, and other regulated entities. The framework pr...
Fema / RBI : RBI has released draft amendment directions for commercial and small finance banks to strengthen Pillar 3 disclosures under Basel ...
Fema / RBI : RBI has abolished the mandatory Investment Fluctuation Reserve requirement for commercial banks following changes in market risk a...
KYC, Re-KYC (KYC review), CKYC, misconceptions around KYC and Dormant/Inoperative Account (A/c): Harassment of Customers by Banks and Financial Institutions (FIs), etc Note for Readers:-The write-up is a bit lengthy but I am sure it will serve as one source of reference to millions of customers of the Financial System. Readers not keen on reading […]
Mahanagar Nagrik Sahakari Bank Maryadit Vs Union of India And Others (Madhya Pradesh) Reserve Bank of India Circular Dated 25th June 2021; related to RBI control over Urban Co-Operative Banks; Stayed by Hon’ble MP High Court Jabalpur. While hearing a writ petition challenging constitutionality of Banking Regulation (Amendment) Act, 2020, and consequential Circular dated 25 […]
How do I file a Compounding of Contravention application under the FEMA Act of 1999? 1. Conceptual Framework What does compounding of contravention means? Compounding is the settlement of an offence committed by the contravener by imposing a monetary penalty rather than going to litigation once the contravener admits to committing the offence. Under the […]
The Reserve Bank of India has, from time to time, issued several guidelines/instructions/directives to the banks on the presentation of financial statements, regulatory clarification on compliance with accounting standards, and disclosures in notes to accounts.
Reserve Bank of India RBI/2021-22/95 DOR.GOV.REC.44/29.67.001/2021-22 August 30, 2021 All Private Sector Banks (including Local Area Banks, Small Finance Banks, Payments Banks) and Foreign Banks operating in India Dear Sir/Madam, Guidelines on Compensation of Whole Time Directors/ Chief Executive Officers/ Material Risk Takers and Control Function staff – Clarification Please refer to para 2.1.2 (f) […]
Master Directions on Prepaid Payment Instruments (MD-PPIs) provide a framework for authorisation, regulation and supervision of entities issuing and operating PPIs in the country;
Indo-Nepal Remittance Facility Scheme leverages the National Electronic Funds Transfer (NEFT) ecosystem available in the country for origination of such remittances and entails a ceiling of Rs. 50,000 per remittance with a maximum of 12 remittances in a year.
Keeping in view the overall objectives of Clean Note policy and to ensure that all bank branches provide better customer service to members of public with regard to exchange of notes and distribution of coins, the afore-said Scheme has since been reviewed and it has now been decided to revise the incentive being paid to the banks for distribution of coins with a major thrust on alternate avenues so as to extend the outreach.
The Reserve Bank has now decided to include street vendors identified as part of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centres as beneficiaries under the PIDF Scheme. As hitherto, the street vendors in tier-3 to tier-6 centres will continue to be covered under the Scheme.
The Reserve Bank of India has appointed Shri Ajay Kumar as Executive Director (ED) with effect from August 20, 2021. Prior to being promoted as ED, Shri Ajay Kumar was heading the New Delhi Regional Office of the Bank as Regional Director.
