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 : The issue concerns regulatory burden on smaller NBFCs without systemic risk exposure. The RBI introduced exemption for such entiti...
Fema / RBI : The issue concerns delays in pension credit caused by banks. The guidelines mandate 8% interest compensation for such delays. The ...
Fema / RBI : Explains how ECBs allow Indian entities to borrow abroad while ensuring compliance with RBI rules. Key takeaway: growth is enabled...
Fema / RBI : The issue involved delayed recognition of credit losses under the earlier framework. RBI introduced ECL to ensure probability-base...
Fema / RBI : RBI clarified that the Digital Rupee is legal tender with features similar to physical cash. It enables secure, instant, and fee-f...
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 Reserve Bank of India has proposed a clear 5% IFR requirement for rural co-operative banks’ current investments. This change...
Fema / RBI : The Court held that rejection of NBFC registration surrender solely due to meeting PBC was unsustainable without giving an opportu...
Fema / RBI : The issue was whether properties purchased using company funds could escape benami classification. The Tribunal held that unexplai...
Fema / RBI : The Tribunal ruled that transactions predating the alleged crime cannot be treated as proceeds of crime without a clear link. It s...
Fema / RBI : The issue was whether properties unconnected to crime could be attached under PMLA. The Tribunal held that equivalent value assets...
Fema / RBI : The Tribunal ruled that taxation of income does not negate its use in benami transactions. Even disclosed or assessed income can f...
Fema / RBI : The issue involved foreign investment limits in the insurance sector under FEMA regulations. The amendment allows up to 100% FDI u...
Fema / RBI : The issue involved foreign investment from countries sharing land borders with India. The amendment mandates Government approval f...
Fema / RBI : RBI sets new framework for agency commission, reporting, and monitoring of agency banks. Key takeaway: stricter compliance and sta...
Fema / RBI : RBI introduced new directions mandating prompt pension credit and adherence to government orders. The framework ensures efficiency...
Fema / RBI : NBFCs can retain or upgrade borrower accounts to standard upon resolution plan implementation. The amendment balances borrower rel...
The Reserve Bank of India (RBI) has clarified that a company in the structure of Hindu undivided family (HUF) cannot access public deposits if it is in the business of finance and on-lending. It can only access funds from relatives and family members. However, companies of such structures can access public deposits (inter-corporate deposits) as defined under the company law if their operation is other than financing.
The Reserve Bank of India has issued a circular dated 14 December 2007, laying down the directions for issuance of shares under Foreign Direct Investments and refund of advance remittances. With effect from November 29, 2007, equity instruments should be issued or advance remittances should be refunded within 180 days of receiving the money.
While under the duty draw back scheme, exporters are refunded the customs duties and excise duties paid on inputs, like raw materials, and intermediates after the products are exported, the DEPB scheme, seeks to neutralise the incidence of customs duty on the import content of the export product by way of grant of duty credit against the export product. The DEPB scheme has found disfavour with the World Trade Organization as it is non-transparent and transferable.
(i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2007. (ii) These Regulations shall be deemed to have come into effect from the dates specified in these Regulations.
Exchange Earner’s Foreign Currency (EEFC) Account- Liberalisation -1. Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to Regulation 4 of Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2000 notified vide Notification No.FEMA.10/2000- RB dated 3rd May, 2000 and as amended from time to time, in terms of which a person resident in India is permitted to open and maintain with an authorized dealer in India a Foreign Currency Account known as Exchange Earner’s Foreign Currency (EEFC) Account subject to the terms and conditions of the Exchange Earner’s Foreign Currency Account Scheme specified in the Schedule to the above mentioned Notification.
It is clarified that Domestic Venture Capital Funds registered with SEBI, have been permitted to invest in equity and equity-linked instruments only of off-shore Venture Capital Undertakings. Accordingly, Domestic Venture Capital Funds registered with SEBI, desirous of making investments in off-shore Venture Capital Undertakings may approach SEBI for prior approval.
It has been decided to enhance the existing limit of USD 100,000 per financial year to USD 200,000 per financial year (April – March) with immediate effect. Accordingly, AD Category – I banks may now allow remittance up to USD 200,000, per financial year, under the Scheme, for any permitted current or capital account transaction or a combination of both.
Reserve Bank of India Governor Dr Y Venugopal Reddy on Tuesday presented the First Quarter Review of Annual Statement on Monetary Policy for the Year 2007-08 on Tuesday. Dr Reddy kept the interest rates unchanged, but hiked the Cash Reserve Ration by 50 basis points to 7.0 percent.
We have been receiving queries from authorised dealers whether such undertaking and certificate should be obtained in all cases of remittances in foreign currency to non-residents including remittances for trade payments.
The RBI has directed banks to simplify claim settlements for deceased depositors. New rules mandate speedy processing with minimum documents for nominees and survivors.
