Fema / RBI - Page 3

External Benchmarking of New Floating Rate Loans by Banks

Press Release: 2018-2019/1300 (05/12/2018)

Use of external benchmarks by banks for their floating rate loans instead of the present system of internal benchmarks [Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR), Base rate and Marginal Cost of Funds based Lending Rate (MCLR)]....

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Non-resident Participation in Rupee Interest Rate Derivatives Markets (Reserve Bank) Directions, 2018

Notification No. FMRD.DIRD./CGM (TRS)-2018 (05/12/2018)

1. These Directions shall be called the ‘Non-resident Participation in Rupee Interest Rate Derivatives Markets (Reserve Bank) Directions, 2018. 2. These Directions shall be applicable to Rupee interest rate derivative transactions in India, undertaken on recognized stock exchanges, electronic trading platforms (ETP) and Over-the-Counter...

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NSFR guidelines will come into effect from April 1, 2020

Notification No. RBI/2018-19/84 DBR.BP.BC.No.08/21.04.098/2018-19 (29/11/2018)

Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) – Final Guidelines- It has now been decided that the NSFR guidelines will come into effect from April 1, 2020....

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Legal Entity Identifier Code for participation in non-derivative markets

Notification No. RBI/2018-19/83 FMRD.FMID.No.10/11.01.007/2018-19 (29/11/2018)

In case of non-derivative forex transactions, while all inter-bank transactions shall be subject to LEI requirement, client transactions shall require LEI code for transactions involving an amount equivalent to or exceeding USD one million or equivalent thereof in other currencies....

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Relaxation on the guidelines to NBFCs on securitisation transactions

RBI/2018-19/82 DNBR (PD) CC.No.95/03.10.001/2018-19 (29/11/2018)

It has been decided to relax the Minimum Holding Period (MHP) requirement for originating NBFCs, in respect of loans of original maturity above 5 years, to receipt of repayment of six monthly instalments or two quarterly instalments (as applicable), subject to the following prudential requirement:...

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Interest Equalisation rate increased to 5% in respect of exports by MSME

RBI/2018-19/81 DBR. Dir. BC. No. 09/04.02.001/2018-19 (29/11/2018)

It has been decided by the Government of India to increase w.e.f. November 02, 2018 Interest Equalisation rate from 3% to 5% in respect of exports by the Micro, Small & Medium Enterprises (MSME) sector manufacturers under the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit....

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Mandatory hedge coverage reduced to 70% for Track I ECBs

RBI/2018-19/79 A.P. (DIR Series) Circular No.15 (26/11/2018)

It has been decided, in consultation with the Government of India, to reduce the mandatory hedge coverage from 100 per cent to 70 per cent for ECBs raised under Track I of the ECB framework by eligible borrowers...

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Systemically Important Core Investment Companies (CIC-ND-SI)

The application form for CICs-ND-SI is available on the Bank’s website that can be easily downloaded and filled in and submitted to the Regional Office of the DNBS in whose authority, the Company is registered along with all necessary supporting documents mentioned in the application form....

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Posted Under: Fema / RBI |

Guidelines on Value Free Transfer (VFT) of Government Securities

RBI/2018-19/78 IDMD.CDD.No.1241/11.02.001/2018-19 (16/11/2018)

Value Free Transfer (VFT) of the government securities shall mean transfer of securities from one SGL/CSGL to another SGL/CSGL account, without consideration. ...

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RTGS System – Implementation of Positive Confirmation

RBI/2018-19/76 DPSS (CO) RTGS No.1049/04.04.016/2018-19 (15/11/2018)

This document outlines the process flow for electronic credit acknowledgement message (camt.059) to the remitter bank by the beneficiary bank after successful credit to the beneficiary account....

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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.

 

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