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
FDI Policy as amended up to 22-9-2012 – Circular 1 of 2012
FEMA – Rupee value of Special Currency Basket fixed at Rs.70.965327 with effect from March 13, 2012
RBI taken step to expand RTGS and NEFT facility to more banks
Checklist For Prevention Of Money Laundering
Authorised Dealer Category II – Can open only one Nostro account for each currency
Banks to work full day this Saturday
FEMA – Data on import of Gold – Statements – Modification
Systemic risk assessment – The cornerstone for the pursuit of financial stability
PPF Interest Rate increased to 8.80% p.a. 5 year SCSS, 2004 to 9.3% p.a.
Companies must obtain permission to operate FCA abroad
Use of International Debit Cards/Store Value Cards/Charge Cards/Smart Cards by Resident Indians while on a visit outside India
Cheque Valid only for 3 months from Today
Fema – Review of all-in-cost (AIC) on External Commercial Borrowings (ECB) and Trade Credit
RBI decides to permit non-bank entities to setup, own and operate ATMs
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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