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
Know Your Customer (KYC) guidelines, dated: 12.05.2010 – accounts of proprietary concerns
New RBI accounting rules brought down the capital of ICICI Bank
RBI relaxed oversees borrowing rules for Infrastructure Finance Companies
Priority Sector Lending – Export Credit for agriculture and allied activities
ECBS – Liberalization to avail ECB by Infrastructure Finance Companies
RBI extended Concessional credit to exporters by 2 months
Inclusion in / exclusion from the Second Schedule to the Reserve Bank of India Act, 1934 – Regional Rural Banks (RRBs)
Levy of interest on clearing-related overdraft extended by Clearing House managing banks for settling clearing obligations of member banks
Working Group to Review the Credit Guarantee Scheme for Micro and Small Enterprises (MSEs) – Collateral free loans to MSEs
Prevention of Money-laundering Amendment Rules, 2010 – Obligation of banks
RBI/2009-10/450 DNBS (PD) C.C No. 174 /03.10.001/2009-10, dated: 06.05.2010
Rupee Export Credit Interest Rates
Foreign Exchange Management (Current Account Transactions) (Amendment) Rules, 2010 – Amendment in Schedule II
Conversion of term deposits, daily deposits or recurring deposits for reinvestment in term deposits by Primary (Urban) Co-operative Banks (UCBs)
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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