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...
To provide greater flexibility to banks in mobilizing non-resident deposits and in view of prevailing market conditions, the Reserve Bank of India (RBI) deregulated interest rates on Non-Resident (External) Rupee (NRE) Deposits and Savings deposits under Ordinary Non-Resident (NRO) Accounts with effect from 16 December 2011.
Banks, which have fixed their service charges for out-station/speed clearing for instruments valuing above Rs. 1 lakh as percentage to the value of instruments are, therefore, advised to review the same and fix the charges on a cost-plus basis. Banks may note to ensure that collection charges fixed for instruments valuing above Rs. 1 lakh is lower under Speed Clearing vis-a-vis Out-station Cheque Collection as advised in paragraph 6(d) of our circular dated January 19, 2011 so as to encourage the use of Speed Clearing.
As you may be aware, it has been the endeavour of Reserve Bank of India to put in place clearing infrastructure at all places where there are five or more banks operating but do not have a clearing house with a relaxation to district headquarters where the presence of three banks is sufficient to establish a clearing house. Towards this endeavour, Regional offices of RBI continuously identify locations and banks for opening new clearing houses. As a result of such continuous efforts, there are 1200 clearing houses as on April 2012 across the country of which more than 200 clearing houses have been made operational during the last four years (2008-2012) alone.
CICs may be required to issue guarantees or take on other contingent liabilities on behalf of their group entities. Before doing so, CICs must ensure that they can meet the obligation thereunder, as and when they arise. In particular, CICs which are exempt from registration requirement must be in a position to do so without recourse to public funds in the event the liability devolves. If unregistered CICs with asset size above Rs. 100 crore access public funds without obtaining a Certificate of Registration (CoR) from RBI, they will be seen as violating Core Investment Companies (Reserve Bank) Directions, 2011 dated January 05, 2011.
With a view to simplify and attune the Scheme to suit to current requirements and to facilitate issue of Electronic Kisan Credit Cards, a Working Group under the Chairmanship of Shri T.M.Bhasin, Chairman and Managing Director, Indian Bank was constituted. The Working Group has since submitted its recommendations based on which a revised Kisan Credit Card (KCC) Scheme has been devised.
it has been decided to include the following documents in the indicative list of required documents for opening accounts of proprietary concerns: (i) the complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated / acknowledged by the Income Tax Authorities (ii) utility bills such as electricity, water and landline telephone bills in the name of the proprietary concern.
Banks should put in place a Board approved policy with regard to take-over of accounts from another bank. The policy may include norms relating to the nature of the accounts that may be taken over, authority levels for sanction of takeover, reporting of takeover to higher authorities, monitoring mechanism of taken over accounts, credit audit of taken over accounts, examination of staff accountability especially in case of quick mortality of such cases after takeover, periodic review of taken over accounts at Board /Board Committee level, Top Management level, etc.
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated September 1, 2011 with the Government of the Republic of Mozambique, making available to the latter, a Line of Credit (LOC) of USD 13 million (USD thirteen million) for the purpose of financing of Solar Photo Voltaic Module Manufacturing plant in Mozambique. The goods, machinery, equipment and services including consultancy services from India for exports under this Agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this Agreement.
On a review of the Scheme, it has been decided as under :- a) 50% of the balances in the EEFC accounts should be converted forthwith into rupee balances and credited to the rupee accounts as per the directions of the account holder. This process may be completed within a fortnight from the date of the circular and compliance reported to the Chief General Manager, Foreign Exchange Department, Central Office, Trade Division, Amar Building, Sir P.M. Road, Fort, Mumbai 400 001
On a review it has been decided to fix the intra-day open position / daylight limit of the Authorised Dealers at five times the Net Overnight Open Position Limit available to them or the existing Intra-day open position limit as approved by the Reserve Bank, whichever is higher, for positions involving Rupee as one of the currencies.
