Fema / RBI
Log in to FollowRBI Circular Notification Press Release and Instructions issued by Reserve bank of India. News and Article on provisions, Rate changes, Policy changes and FAQ
Implementation of the provisions of Foreign Contribution (Regulation) Act, 2010
RBI asks Co-Operative Banks to display list of unclaimed deposits/inoperative accounts for ten years or more on their respective websites
RBI asks banks to refund unclaimed deposits estimated over 1700 crore rupees
FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable
External Commercial Borrowings – Reduction in amount,all-in-cost of ECB and Changes/modifications in the drawdown schedule,
Unclaimed Deposits/ Inoperative Accounts in Banks – Display list of Inoperative Accounts
Deregulation of Savings Bank Deposit Interest Rate – Clarification – UBD.BPD.(PCB) CIR No. 18 /13.01.000/2011-12
RBI cautions Public Once Again against Fictitious Offers
Guideline / Prohibition on acceptance of foreign contribution under FCRA, 2010
Grant of Loans and Advances and Award of Contracts to Directors of Banks and their Relatives
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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