Fema / RBI - Page 4

MSMEs Interest Subvention Scheme: Salient features & operational guidelines

RBI/2018-19/129 DNBR (PD) CC.No.096/03.10.001/2018-19 (22/02/2019)

Interest Subvention Scheme for MSMEs aims at encouraging both manufacturing and service enterprises to increase productivity and provides incentives to MSMEs for onboarding on GST platform which helps in formalization of economy, while reducing the cost of credit. The Scheme will be in operation for a period of two financial years FY 2019...

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MSME sector: Eligibility for loan restructuring without GST-registration

RBI/2018-19/127 DBR.No.BP.BC.26/21.04.048/2018-19 (22/02/2019)

It is clarified that the eligibility for restructuring without GST-registration, as per the circular under reference, should be determined on the basis of exemption limit obtaining as on the date of the aforesaid circular, i.e., January 1, 2019....

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Interest Subvention Scheme for MSMEs

RBI/2018-19/125 FIDD.CO.MSME.BC.No.14/06.02.031/2018-19 (21/02/2019)

The Scheme aims at encouraging both manufacturing and service enterprises to increase productivity and provides incentives to MSMEs for onboarding on GST platform which helps in formalization of economy, while reducing the cost of credit. The Scheme will be in operation for a period of two financial years FY 2019 and FY 2020....

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Central KYC Registry

Central Government of India has created CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) to ensure single KYC across all financial products. It provides an ease to the every financial consumer by submitting one time KYC at the CERSAI portal and escaping from the requirement of giving KYC ever...

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FEMA / RBI Compliance Checklist

FEMA (Foreign Exchange Management Act, 1999) has acted as a catalyst for the growth and development of various sectors in India. The main aim of FEMA is to facilitate external trade, balance the payments, promote the orderly development, and maintain the foreign exchange market in India. This article covers the Important Compliances to be...

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Investment by Foreign Portfolio Investors (FPI) in Debt

RBI/2018-19/123 A.P. (DIR Series) Circular No. 19 (15/02/2019)

As announced in paragraph 10 of the Statement on Developmental and Regulatory Policies of the Sixth Bi-monthly Monetary Policy Statement for 2018-19 dated February 07, 2019, in order to encourage a wider spectrum of investors to access the Indian corporate debt market, it has been decided to withdraw this provision with immediate effect....

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RBI Cautions against Fraud in Digital Payment Ecosystem

Alert No: 1/2019 (14/02/2019)

Fraudulent transactions using the UPI platform are increasing. We have issued advisory no.1 dated January 10, 2019 in this regard. Recently, a new modus operandi has been brought to our notice through which fraudster can easily take remote access of a victim's mobile device and carry out transactions. Stepwise details are as under:...

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Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2019

Notification No. G.S.R. 108(E) (13/02/2019)

1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2019. (2) They shall come into force on the date of their publication in the Official Gazette....

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Liaison Office vs Branch Office vs Wholly Owned Subsidiary

Forming an Entity in India India has made its mark on the world map with the rapidly rising growth rate, notable human resources, technology advancement and the government supporting and encouraging the ease of business. India is expected to takeover Britain in this year to become the world’s fifth largest economy. It is only natural [&...

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Posted Under: Fema / RBI |

ECB for Resolution Applicants under Corporate Insolvency Resolution Process

RBI/2018-19/121 A.P. (DIR Series) Circular No. 18 (07/02/2019)

RBI to relax the end-use restrictions for resolution applicants under the Corporate Insolvency Resolution Process (CIRP) and allow them to raise ECBs from the recognised lenders, except the branches/ overseas subsidiaries of Indian banks, for repayment of Rupee term loans of the target company under the approval route....

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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.

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