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Main Features of Sovereign Gold Bond Scheme 2017-18 Series-III

Govt has decided to issue Sovereign Gold Bonds 2017-18 – Series-III. Applications for the bond will be accepted from October 09, 2017 to December 27, 2017. The Bonds will be issued on the succeeding Monday after each subscription period....

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Posted Under: Fema / RBI |

98.96% of SBNs come back to the RBI after demonetization

Taking into consideration, the value of SBNs now reported to have been counted, approximately 98.96% of SBNs in value terms have come back to the RBI after demonetization. In other words, only an estimated Rs. 16000 crore worth of SBNs have not come back to the RBI so far....

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Posted Under: Fema / RBI |

Bank notes with writing or ink mark continue to be legal tender: RBI in RTI Reply

Bank notes with writing or ink mark on them continue to be legal tender, however, bank notes bearing religious or political messages will not be treated as eligible for exchange as per Note Refund Rules, 2009....

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Posted Under: Fema / RBI |

Investments by NRIs as FDI and in stock changes

Non-Resident Indians (NRIs) can invest in India as per the following regulation of Foreign Exchange Management (Transfer or issue of Security by a person resident outside India) Regulations, 2000 dated May 3, 2000 as amended from time to time: i. As per Regulations 5(1), NRIs may invest in shares/Compulsorily Convertible Preference Shares...

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Posted Under: Fema / RBI |

List of 53 persons, who are absconding, under PMLA, 2002

As per information received from the Directorate of Enforcement, New Delhi, the prosecution complaint has been filed against 53 persons, who are absconding, under the Prevention of Money Laundering Act, 2002. The list is attached as Annexure-A....

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Posted Under: Fema / RBI |

RBI Committee to refer accounts for resolution under IBC 2016

Reserve Bank of India (RBI) has constituted an Internal Advisory Committee (IAC), which arrived at an objective, non-discretionary criterion for referring accounts for resolution under Insolvency and Bankruptcy Code, 2016 (IBC). Reserve Bank of India (RBI) has constituted an Internal Advisory Committee (IAC), which arrived at an objective...

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Posted Under: Fema / RBI |

Features of Sovereign Gold Bond Scheme 2017-18– Series II

Government of India in consultation with RBI decides to issue Sovereign Gold Bond Scheme 2017-18– Series II; Applications for the bond will be accepted from July 10, 2017 to July 14, 2017; The Bonds will be issued on July 28, 2017. Government of India, in consultation with the Reserve Bank of India, has decided to […]...

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Posted Under: Fema / RBI |

RBI Second Bi-monthly Monetary Policy Statement, 2017- 18

Press Release : 2016-2017/3304 (07/06/2017)

Since the April 2017 meeting of the MPC, global economic activity has expanded at a modest pace, supported by firming growth in major advanced economies (AEs) and in some emerging market economies (EMEs) as well. ...

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Posted Under: Fema / RBI |

Have new NPA norms for Wholesale Long Term Finance Bank: ASSOCHAM to RBI

ASSOCHAM has approached the RBI with a plea that the provisioning criteria for the non-performing assets (NPAs) in the case of proposed Wholesale Long- Term Finance (WLTF) banks should be based on stress tests of each of the funded projects, unlike the present standard provisioning norms due to a different nature of the long term, big tic...

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Posted Under: Fema / RBI |

‘Foreign Direct Investment Inflows- A Success Story’

The Government in last three years has undertaken a number of reforms in different areas of economy. In this regard FDI policy reforms carried out by Government are nothing less than historic. ...

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Posted Under: Fema / RBI |
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