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...
The action of demonetization of Rs. 500, 1000 currency notes has been a bold one, impacting one and all across the nation, widely applauded and apparently sounds in the interest of nation.
One thing we must admit that 8thand 9thNovember 2016 were the days a Chartered Accountant or a Tax Consultant has received the maximum number of phone calls on a single day, probably beating even his own birthday!
At international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes which are legal tender;
Banks shall remain open for public transactions on Saturday, November 12 and Sunday, November 13, 2016 as regular working days for transacting all business
PM Narendra Modi on 8th November. 2016 (Tuesday) announced scrapping of Rs 500 and Rs 1,000 notes. The surprise move triggered panic reactions. News is viral on social media. As a Tax consultant I am receiving call regarding it.
Government of India has played a trump card by hitting at so many targets by just one shot demonetizing the two most valued currency notes in India, viz Rs. 500 and Rs. 1000.
Notes of 500 & 1000 banned from 09 November: – On 8th November, Central Government declared that notes of existing series of denomination of Rs. 500 and Rs. 1000 shall cease to be legal tender from the 9th November, 2016.
(i) for making payments in all pharmacies on production of doctor’s prescription and proof of identity; (j) for making payments on all toll plazas on the State and National Highways;(k) for payments on purchases LPG gas cylinders; (l) for making payments to catering services on board, during travel by rail;
Government’s new directive that all the 500 and 1000 rupees notes that are currently in circulation will not be considered a legal tender effective midnight ,the 8th November 2016 , has been widely regarded as a historic move to combat the circulation and curbing of Counterfeit currencies.
The PM just announced that Rs. 500 and 1000 currency notes stand abolished from midnight, which is virtually with immediate effect.
