Fema / RBI - Page 3

Establishment in India of a branch office or a liaison office or a project office or any other place of business

Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016 (Amended upto January 21, 2019) The Reserve Bank of India makes the following regulations to prohibit, restrict and regulate establishment in India of a branch office or a liaison...

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Posted Under: Fema / RBI |

Amendment to Master Direction (MD) on KYC related to Aadhaar

RBI/2018-19/190, DBR. AML. BC. No. 39/14.01.001/2018-19 (29/05/2019)

Important changes carried out in the Master Direction in accordance with the aforementioned amendments are listed hereunder: a) Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose. (Section 16 of the amended MD on KYC)...

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RBI extends RTGS Timings for Customer Transactions

RBI/2018-19/189 DPSS (CO) RTGS No. 2488/04.04.016/2018-19 (28/05/2019)

RBI decided to extend the timings for customer transactions (initial cut-off) in RTGS from 4:30 pm to 6:00 pm  with effect from June 01, 2019. RBI/2018-19/189 DPSS (CO) RTGS No. 2488/04.04.016/2018-19 Date: May 28, 2019 The Chairman / Managing Director / Chief Executive Officer of member banks participating in RTGS Madam / Dear Sir, Real...

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What is Blockchain Technology?

A blockchain is a growing list of records, called blocks , which are linked using cryptography. Each block contains a cryptographics hash of the previous block a timestamp and transaction data. By design a block chain is resistant to modification of the data . It is an open distributed ledger that can record transaction between […]...

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Client due diligence norm under Money Laundering Act amended

G.S.R. 381(E) (28/05/2019)

Govt. amends client due diligence norm under Money Laundering Act vide Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2019 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th May, 2019 G.S.R. 381(E).—In exercise of the powers conferred by sub-section (1) read with clauses (i), (...

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Know Your Customer (KYC) Master Direction, 2016- Updated till 29.05.2019

RBI/DBR/2015-16/18 DBR.AML.BC.No.81/14.01.001/2015-16 (25/02/2016)

In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while undertaking a transaction either by establishing an account based relationship or otherwise and...

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Voluntary Retention Route for Foreign Portfolio Investors investment

RBI/2018-19/187 A.P. (DIR Series) Circular No.34 (24/05/2019)

The Reserve Bank, in consultation with the Government of India and Securities and Exchange Board of India (SEBI), introduces a separate channel, called the ‘Voluntary Retention Route’ (VRR), to enable FPIs to invest in debt markets in India. Broadly, investments through the Route will be free of the macro-prudential...

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Draft RBI circular: Liquidity Risk Management Framework for NBFCs & CICs

Press Release : 2018-2019/2767 (24/05/2019)

The Non-Banking Financial Companies (NBFCs) play an important role in the financial system of the country, particularly in delivering credit to the last mile, including the retail as well as MSME sectors....

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RBI approves increase in charges for service to non-chest branches

RBI/2018-19/186 DCM (Plg.) No.2845/10.25.007/2018-19 (23/05/2019)

It has been decided to allow the large modern Currency Chests to increase the service charges to be levied on cash deposited by non-chest bank branches from the existing rate of ₹ 5/- per packet of 100 pieces to a higher rate subject to a maximum of ₹ 8/- per packet....

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Convertible Notes in India: Raising fund from Foreign Investors

Govt. of India issued Consolidated FDI Policy in 2017. The thrust of the policy is to make India an attractive investment destination for foreign investors. A key feature of these policy announcements has been to boost fundraising options for home-grown startups by permitting startups to raise funds through issuance of Convertible Notes w...

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Posted Under: Fema / RBI |

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.