Fema / RBI : The 2026 FEMA amendment removes uncertainty surrounding INR borrowings by resident individuals from NRIs and OCI relatives. The RB...
Fema / RBI : Explains how ECBs allow Indian entities to borrow abroad while ensuring compliance with RBI rules. Key takeaway: growth is enabled...
Fema / RBI : Expanding overseas is easier under new rules, but compliance risks remain. Missing filings or structuring errors can trigger penal...
Fema / RBI : The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Goods and Services Tax : ECGC payouts in INR do not qualify as export proceeds under GST and FEMA laws. Exporters must secure AD bank write-offs to avoid r...
Corporate Law : Authorities found Dubai property acquisitions by Indian residents routed through hawala, leading to action for violations of FEMA ...
Fema / RBI : BCAS submits comments on RBI’s draft External Commercial Borrowings (ECB) regulations, seeking clarity on eligibility, KYC norms...
Fema / RBI : BCAS provides feedback on draft FEMA trade regulations, flags concerns over AD bank powers, seeks clarity and consistency....
Fema / RBI : New FEMA rules allow settlement of foreign exchange violations with penalties up to ₹5 crore. Pending cases will follow earlier ...
Fema / RBI : The Government amended FEMA regulations, enabling resolution of violations up to ₹5 crore by paying fines. Ongoing cases follow ...
Corporate Law : The Appellate Tribunal under SAFEMA held that routing demonetized cash through another person’s bank account constituted a benam...
Fema / RBI : The issue was whether properties purchased using company funds could escape benami classification. The Tribunal held that unexplai...
Fema / RBI : The Tribunal ruled that transactions predating the alleged crime cannot be treated as proceeds of crime without a clear link. It s...
Fema / RBI : The issue was whether properties unconnected to crime could be attached under PMLA. The Tribunal held that equivalent value assets...
Fema / RBI : The Tribunal ruled that taxation of income does not negate its use in benami transactions. Even disclosed or assessed income can f...
Fema / RBI : RBI has withdrawn the requirement for prior approval of tie-ups between AD banks and non-bank remittance platforms. The new framew...
Fema / RBI : RBI has notified Foreign Exchange Management (Authorised Persons) Regulations, 2026 to streamline authorisation norms under FEMA. ...
Fema / RBI : RBI notified the Foreign Exchange Management (Authorised Persons) Regulations, 2026 introducing revised eligibility, compliance, a...
Fema / RBI : The issue involved foreign investment limits in the insurance sector under FEMA regulations. The amendment allows up to 100% FDI u...
Fema / RBI : The issue involved foreign investment from countries sharing land borders with India. The amendment mandates Government approval f...
External Commercial Borrowings and Trade Credits availed of by residents are governed by clause (d) of sub-section (3) of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 3/2000-RB viz. Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, dated May 3, 2000, as amended from time to time. This Master Circular consolidates the existing instructions on the subject of ‘External Commercial Borrowings and Trade Credits’ at one place. The list of underlying circulars/notifications, consolidated in this Master Circular, is furnished in the Appendix.
Amid a debate within the government on allowing foreign direct investment in multi- brand retail, the nodal Consumer Affairs Ministry is insisting on a FDI cap of 49% in the sensitive sector, sources said.
MASTER CIRCULAR NO. 8/2011-12, DATED 1-7-2011 If any person contravenes any provision of FEMA, 1999, or contravenes any rule, regulation, notification, direction or order issued in exercise of the powers under this Act, or contravenes any condition subject to which an authorization is issued by the Reserve Bank, he shall, upon adjudication, be liable to a penalty up to thrice the sum involved in such contravention where the amount is quantifiable or up to Rupees Two lakh, where the amount is not quantifiable and where the contravention is a continuing one, further penalty which may extend to Rupees Five thousand for every day after the first day during which the contravention continues (Section 13(1), Chapter IV of FEMA, 1999). In terms of rule 4 of the Foreign Exchange (Compounding Proceedings) Rules, 2000, the powers to compound the contraventions have been prescribed for compounding authorities with regard to the sum involved in such contravention and no contravention shall be compounded unless the amount involved in the contravention is quantifiable.
Import of Goods and Services into India is being allowed in terms of section 5 of the Foreign Exchange Management Act, 1999 (42 of 1999), read with Notification No. G.S.R. 381(E), dated May 3, 2000 viz. Foreign Exchange Management (Current Account Transactions) Rules, 2000 as amended from time to time. This Master Circular consolidates the existing instructions on the subject of ‘Import of Goods and Services’ at one place. The list of underlying circulars consolidated in this Master Circular is also furnished.
The acceptance of deposits by an Authorised Dealer/Authorised bank from persons resident outside India are regulated by the provisions of sub-sections (1) and (2) of section 6 of the Foreign Exchange Management Act, 1999 read with FEMA Notification No. 5/2000 RB dated May 3, 2000, as amended from time to time.2. This Master Circular consolidates the existing instructions on the subject of ‘Non-Resident Ordinary Rupee (NRO) Account’ at one place. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in the Appendix.
ORDER S.O.1492(E), DATED 1-7-2011 SECTION 50 OF THE FOREIGN CONTRIBUTION (REGULATION) ACT, 2010 – POWER TO EXEMPT IN CERTAIN CASES – ACT NOT TO APPLY TO ALL BODIES CONSTITUTED OR ESTABLISHED BY OR UNDER A CENTRAL ACT OR A STATE ACT REQUIRING TO HAVE THEIR ACCOUNTS COMPULSORILY AUDITED BY THE COMPTROLLER AND AUDITOR GENERAL OF INDIA
MASTER CIRCULAR NO. 5/2011-12, This Master Circular consolidates the existing instructions on the subject of ‘Memorandum of Instructions for Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses’ at one place. The list of underlying Circulars/notifications is set out in the Appendix. 2. This Master Circular is issued with a sunset clause. This circular will stand withdrawn on July 1, 2012 and be replaced by an updated Master Circular on the subject.
MASTER CIRCULAR NO. 4/2011-12, DATED 1-7-2011 Acquisition and transfer of immovable property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin is regulated in terms of sub-sections (3), (4) and (5) of section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 21/2000-RB, dated May 3, 2000. The regulatory framework and instructions issued by the Reserve Bank in this regard have been compiled in this Master Circular. The list of underlying circulars/notifications is furnished in Appendix.2. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2012 and be replaced by an updated Master Circular on the subject.
MASTER CIRCULAR NO. 2/2011-12 Remittance facilities for Non-Residents/Persons of Indian Origin/Foreign Nationals are being governed by sub-sections (1) and (2) of section 6 of the Foreign Exchange Management Act, 1999 read with FEMA Notification No.13/2000-RB and FEMA Notification No. 21/2000-RB dated May 3, 2000, as amended from time to time. 2. This Master Circular consolidates the existing instructions on the subject of ‘Remittance facilities for Non-Resident Indians/Persons of Indian Origin/Foreign Nationals’ at one place. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in Appendix.
MASTER CIRCULAR NO. 1/2011-12, DATED 1-7-2011 Miscellaneous remittance facilities for residents are allowed in terms of section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification No. G.S.R 381(E) dated May 3, 2000, as amended from time to time. 2. This Master Circular consolidates the existing instructions on the subject of Miscellaneous Remittances from India – Facilities for Residents at one place. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in Appendix-1.
