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
RBI issues clarification on Import of Gold by Nominated Banks /Agencies/Entities
Liberalised Remittance Scheme for Resident Individuals- Reduction of limit from USD 200,000 to USD 75,000
FCNR(B)/NRE Deposits – Exemption from Maintenance of CRR/SLR and exclusion from ANBC for Priority Sector Lending
Reduction of limit for Overseas Direct Investment to 100 percent of net worth the Indian Party
Banks advised to not to recirculate banknotes having inscription or scribbling on any part of the banknote
Change in Interest Rates on FCNR(B) Deposits for 3 – 5 years
No ceiling on Interest rate of NRE deposit
Compounding of Contraventions under FEMA, 1999 – Refund of compounding fees
Non-Resident Deposits – Comprehensive Single Return (NRD-CSR): Submission under XBRL
Dr. Raghuram Rajan Appointed as Governor of RBI
RBI includes Capital Dredging, Slurry Pipelines, Telecommunication & Telecom Services for Infrastructure Lending
ATM transactions – RBI taken steps for Enhancement of customer service
Recommendations of Damodaran Committee on Customer Service in Banks- Uniformity in Intersol Charges
RBI – First Quarter Review of Monetary Policy 2013-14
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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