RBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
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In order to provide money changing facility to non-residents to convert unspent Indian Rupees with them, Foreign Exchange Counters in the departure halls in international airports in India may be established in the Duty Free Area/SHA beyond the Immigration/ Customs desk.
It may be recalled that in the light of the spike in gold imports in the recent years and the potential threat this could pose to external stability of the country, the Working Group to Study the Issues Related to Gold Imports and Gold Loans NBFCs in India (WG) was set up by the Reserve Bank,
With a view to facilitate collection of advance taxes for Income Tax and Corporate Tax and meeting the probable rush of tax-payers, it has been decided in consultation with the Department of Financial Services,
Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister released the document ‘Economic Outlook 2013-14’ at a Press Conference in New Delhi today. Following are the highlights of the document: Economy to grow at 5.3% in 2013-14 Agriculture projected to grow at 4.8% in 2013-14 as against 1.9% in 2012-13. The early and […]
In order to simplify the existing form used for declaration of exports of Goods/Softwares, a common form called Export Declaration Form (EDF) has been devised to declare all types of export of goods from Non-EDI ports and a common SOFTEX Form to declare single as well as bulk software exports.
It has been decided to revise the definition of the term ‘control’ as under; – ‘Control’ shall include the right to appoint a majority of the directors or to control the management or policy decisions including by virtue of their shareholding or management rights or shareholders agreements or voting agreements.
These special clearings are exclusively for Government receipts and is in addition to the normal clearing operations conducted on September 14, 2013 (Saturday).
For the purpose of downstream investment, the Indian companies making the downstream investments would have to bring in requisite funds from abroad and not use funds borrowed in the domestic market. This would, however, not preclude downstream operating companies, from raising debt in the domestic market. Downstream investments through internal accruals are permissible by an Indian company, subject to the provisions of clause 6(i) and as also elaborated below:
It has been observed that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, e.g. upfront disbursal of sanctioned individual housing loans to the builders without linking the disbursals to various stages of construction of housing project,
Further, it has also been decided that issue of corporate guarantee on behalf of second generation or subsequent level step down operating subsidiaries will be considered under the Approval Route, provided the Indian Party indirectly holds 51 per cent or more stake in the overseas subsidiary for which such guarantee is intended to be issued.
