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Banking sector to make a big contribution to make India a developed nation

Banking sector has to make a big contribution to making India a developed nation by 2047: Union Finance Minister Smt. Nirmala Sitharaman at 75th AGM of Indian Banks’ Association Union Finance Minister exhorts banks to plan for next 25 years, embracing digital, modern technologies and seamless systems which talk to each other “Use tech...

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Posted Under: Fema / RBI |

RBI issues List of unauthorised forex trading platforms

Reserve Bank of India Alert List The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. This list...

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Posted Under: Fema / RBI |

Mauritius now Largely Compliant with all 40 FATF Recommendations

Mauritius was successfully upgraded on Recommendation 15 to 'Largely Compliant' and With this technical compliance upgrade, Mauritius is now Compliant or Largely Compliant with all 40 FATF Recommendations....

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Posted Under: Fema / RBI |

Siphoning off foreign exchange – ED attaches properties of G V Films

ED has seized immovable property at Thanjavur valued at Rs. 8.94 Crore belonging to M/s G V Films Limited, Chennai under FEMA, 1999 in connection with siphoning off foreign exchange in the guise of issuance of 6.4 million number of Global Depository Receipts (GDR) to the tune of Rs. 345.6 Crore. Press Release 01.09.2022 Directorate [&hell...

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Posted Under: Fema / RBI |

Corporate Bond Markets in India – Challenges and prospects

The growing size of the corporate bond market and the number of issuances every year are important indicators of the success of the development efforts of the Government and regulators....

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Posted Under: Fema / RBI |

Dynamics of Inflation in South Asia

South Asia is most vulnerable to food inflation, given the large segment of our populations battling poverty. Moreover, this is a region in which it is rising food prices that can trigger second round effects leading to the generalisation of inflation and its persistence....

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Posted Under: Fema / RBI |

Overseas investment rules and regulations notified

Overseas investment rules and regulations notified Another step towards Ease of Doing Business In line with the amendment in the Foreign Exchange Management Act 2015, Outward Investments Rules have been framed by the Government of India in consultation with the Reserve Bank. Presently, the overseas investment by a person resident in India...

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Posted Under: Fema / RBI |

India likely to be second most important driver of global growth: RBI Governor

In spite of the pandemic and the war in Europe, India is going to contribute about 14 per cent of global growth. In fact, India is likely to be the second most important driver of global growth in 2022 after China....

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Posted Under: Fema / RBI |

RBI is prohibited from disclosing borrower-wise credit information

RBI is prohibited from disclosing borrower-wise credit information, since the credit information submitted by a bank is Confidential ...

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Posted Under: Fema / RBI |

Steps to protect interests of Fixed Deposit of investors in bank

DICGC raised the limit of insurance cover for depositors in insured banks from ₹1 lakh to ₹5 lakh per depositor with effect from 04.02.2020....

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Posted Under: Fema / RBI |