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Cabinet approves Amalgamation Scheme of Lakshmi Vilas Bank with DBS Bank

Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL). On 17.11.2020, to protect depositors' interest and in the interest of financial and banking stability, on RBI's application under section 45 of the Banking Regulation Act, 1949, LVB had been under mora...

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Posted Under: Fema / RBI |

SOP to open and operate FCRA Account

SOP to open and operate the FCRA Account as provided under Section 17(1) of the amended Foreign Contribution (Regulation) Act, 2010 with SBI, New Delhi Main Branch in terms of FCRA (Amendment), 2020...

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Posted Under: Fema / RBI |

Foreign Direct Investment Inflow

Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy....

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Posted Under: Fema / RBI |

Promotion of FDI

FDI policy is an enabling policy which is uniformly applicable in the country across all scales of industries including small and medium enterprises....

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Posted Under: Fema / RBI |

Shifting of Base to India by MNCs

Several multinational companies have evinced their interest to shift their base into India across different States in sectors such as Electronics, Retail, e-Commerce, Automotive, Food Processing, Textiles etc. ...

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Posted Under: Fema / RBI |

Expert committee to assist Govt for assessment of relief to bank borrowers

Various concerns have been raised during the proceedings of the ongoing hearing in Hon’ble Supreme Court of India, in the matter of Gajendra Sharma Vs. UoI and Others, of the matter regarding the relief sought in terms of waiver of interest and waiver of interest on interest and other related issues....

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Posted Under: Fema / RBI |

CBI Arrests Bank Manager for allegedly demanding 8% of Loan Amount

It was alleged that the Branch Manager had demanded bribe of Rs.56,000/- (8% of the loan amount sanctioned) from the complainant for sanction & disbursement of Agriculture Loan of Rs.7.10 lakh to the complainant....

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Posted Under: Fema / RBI |

Gold Card Scheme for Creditworthy Exporters

Gold Card Scheme for Creditworthy Exporters Exports play a crucial role in a developing economy like India which attaches considerable importance to export promotion. As a part of the overall strategy of export promotion measures, the Reserve Bank of India has taken various steps to ensure expeditious and timely provision of financial ass...

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Posted Under: Finance |

No Current Account In Banks for CC/OD Customers?

RBI on August 06, 2020, barred banks from opening current accounts for customers who have availed cash credit or overdraft facilities from any bank. RBI has taken this measure with a view to improve credit discipline. In a notification, the central bank said that rather than opening a new current account, all transactions should be [&hell...

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Posted Under: Fema / RBI |

Indian Economy at a Crossroad: A view from Financial Stability Angle

he outbreak of COVID-19 pandemic is unambiguously the worst health and economic crisis in the last 100 years during peace time with unprecedented negative consequences for output, jobs and well-being. It has dented the existing world order, global value chains, labour and capital movements across globe and needless to say, the socio-econo...

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Posted Under: Fema / RBI |