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
Removal of Domestic Tariff Area (DTA) will help in countering recession; New Foreign Trade Policy on August 27, 2009
RBI issued circular on providing Collateral Free loans to Micro and Small Enterprises(MSEs)
Increase in exemption of collateral security in respect of individual and group loans under SGSY Scheme
Use of other banks ATM for more then 5 times a month will cost from October
Use of RTGS/NEFT/NECS/ECS for Credit to NRE Accounts
Reporting of Inter-Scheme Transfers of Corporate Bonds by Mutual Funds
Interest on savings bank accounts by Scheduled Commercial Banks (SCBs) would be calculated on a daily product basis with effect from April 1, 2010
Mere retraction of the confession may not be sufficient to make confessional statement irrelevant
As expected RBI kept key policy rates unchanged in the monetary policy review
RBI expcted to keep key policy rates unchanged in the monetary policy review
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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