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...
Legal entity identifier (LEI) code is a unique identification code which is being issued to the entities which trade in financial markets. These Financial Markets may be stocks, bonds, futures, forex, etc. The transactions or the deals conducted in the markets by one entity will have connected to another entity by an LEI code. LEI codes are generally used for regulators to oversee financial markets. LEI help to connect the financial markets, companies and the regulators.
Summary: Foreign Direct Investment (FDI) plays a significant role as a non-debt financial resource contributing to economic development, particularly in India since the economic reforms of 1991. Over time, India has liberalised its FDI framework, making it more transparent and investor-friendly, with most sectors now open under the automatic route without prior government approval. FDI […]
NBFC – An Easy Simple Process As per the provisions of section 251(c) of the RBI Act, ‘any organization dealing with the business of any financial institution would be considered as an NBFC’. An NBFC is governed by the RBI (Reserve Bank of India) as well as the MCA (Ministry of Corporate Affairs). Basic procedure […]
This article is in respect to ‘Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)’ issued by RBI vide DoS.CO.ARG/SEC.01/08.91.001/2021-22 dated 27/04/2021 The guidelines are issued for appointment/reappointment Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks excluding Regional Rural Banks (RRBs); United Co-operative […]
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 7, 2021, the Reserve Bank of India had announced setting up of a Committee to undertake a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector.
Issue of Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs Reserve Bank of Indiaand NBFCs (including Housing Finance Companies)
As per Para 6.4, whether the time gap of one year between any non-audit works by the SCAs/SAs for the Entities or any audit/non-audit works for its Group Entities has to be ensured for all the Entities in the Group or the RBI Regulated Entities in the Group?
The Chair of the board shall be an independent director. In the absence of the Chair of the board, the meetings of the board shall be chaired by an independent director. The quorum for the board meetings shall be one-third of the total strength of the board or three directors, whichever is higher. At least half of the directors attending the meetings of the board shall be independent directors.
♦ Oversea Direct Investment: Direct investment outside India means investment by way of contribution to the capital of a foreign entity. ♦ Eligible entity to make overseas investment (Other than Individual): a. Resident corporate entities and b. Registered partnership firms. ♦ ODI can be by Indian party or Individual An investment outside India can be […]
REQUIREMENTS AS PER RBI ACT, 1934 1. Requirement of prior approval of Reserve Bank Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs). 2. Application for prior approval NBFCs shall submit an application, in the company letter head, for obtaining prior approval of the Bank, […]
