Fema / RBI
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Discontinuation of the requirement for Paper to Follow (P2F) for Central Government cheques under Cheque Truncation System
Foreign Exchange Management (Insurance) Regulations, 2015
Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 2015
Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015
RBI notifies debit cards, ATM cards etc. which can be used to create a financial liability
Post Office (Postal Orders/Money Orders)
Foreign Exchange Management (Export and import of currency) Regulations, 2015
Note on definition of factoring business
RBI extends deadline for exchange of Banknotes issued prior to 2005 to 30.06.2016
Revised ECB framework widens the reach of NBFCs
Latest RBI / FEMA News
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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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