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
Post demonetisation banks issued banknotes worth Rs. 5,92,613 crore
No instruction by RBI to issue ATM Slip in Regional Languages
RBI restriction on cash deposit of more than Rs. 5000 in a Bank Account
Govt Restricts deposit of old Rs. 500 and 1000 notes in Bank Account
Focus now on printing more Rs. 500 notes- Secretary DEA
RBI regulations on treatment of certain balance sheet items
Measures by RBI absorb excess liquidity in banks post demonetisation
Demonitization- Benefits, Higher withdrawal limits & steps by RBI to ease problems
No charge on IMPS, UPI & USSD of transaction value upto Rs. 1000
Merchant Discount Rate (MDR) for transactions upto Rs. 2000 reduced
Limit on foreign citizens to exchange Indian currency to continue till 31.12.2016
Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 – Operational Guidelines
Comply with Master Direction on KYC norms: RBI
Demonetisation is a step in direction of less cash economy: FM
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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