Fema / RBI : Explore the potential impacts of RBI's proposed draft Import/Export framework on business operations and foreign trade in India....
Fema / RBI : RBI new circular allows resident individuals to remit funds to IFSCs for all permissible LRS purposes, boosting financial services...
Fema / RBI : FLA return is annual return required to be submitted by following entities which have received FDI and/or made FDI abroad (i.e. ov...
Fema / RBI : Gain insight into the RBI circular clarifying overseas investment rules for resident individuals and listed Indian companies, incl...
Fema / RBI : Discover RBI's rules on carrying cash & foreign currency when traveling to/from India. FAQs cover limits, exceptions, and complian...
Finance : Understand the legal framework, regulations, and licensing requirements outlined in the IFSCA Banking Handbook General Directions ...
Fema / RBI : Explore the latest Foreign Direct Investment (FDI) policy amendments in Indias space sector. Understand the changes in caps, entry...
Finance : Ministry of Finance announces groundbreaking policy allowing Indian companies to list on GIFT IFSC, unlocking global capital, boos...
Corporate Law : CBI registers a case against a Delhi-based private company and its Director for alleged violations of FCRA provisions, involving u...
Finance : Crypto Assets are borderless, require international collaboration to prevent regulatory arbitrage Under PMLA, Rs. 936 crore relate...
Income Tax : Directorate of Enforcement cannot sit over the seized assets, and the failure to release them is a violation of Section 132B of th...
Fema / RBI : Assessee-company was engaged in the business of providing unsecured short-term loans to its customers/borrowers in India via its D...
Fema / RBI : Read Rajasthan High Court's judgment in Bhagwati Jewellers regarding release of seized gold bullion and goods by Enforcement Direc...
Fema / RBI : In present facts of the case, the Hon’ble Supreme Court observed that the Enforcement Officer appointed under Section 3 of FERA,...
Income Tax : Karnataka High Court held the provisional attachment order unjustifiable as the same was passed simply stating that there is likel...
Fema / RBI : RBI's 2024 amendment to FEMA regulations allows foreign investors to buy Sovereign Green Bonds in India’s IFSC and remit proceed...
Fema / RBI : Read about RBI's latest circular on Liberalised Remittance Scheme (LRS) allowing expanded remittances to IFSCs, implications, and ...
Fema / RBI : Understand RBI's latest guidelines on Basel III Capital Regulations and the use of credit ratings from accredited agencies like Br...
Fema / RBI : Explore RBI's latest circular detailing Exim Bank USD 2.50 mn Line of Credit to Guyana for a Solar PV Plant at Cheddi Jagan Int l ...
Fema / RBI : The RBI now allows unlimited remittance via online Form A2 submission, enhancing ease of business for Authorised Dealers and custo...
Export-Import Bank of India (Exim Bank) has concluded an Agreement dated April 21, 2011 with the Government of the Republic of Senegal, making available to the latter, a Line of Credit (LOC) of USD 27.50 million (USD twenty seven million and five hundred thousand) for financing eligible goods, services, machinery and equipment including consultancy services from India for the purpose of financing rural electrification project in Senegal.
ADs Category – II and FFMCs may provide facility for reconversion of Indian Rupees to the extent of Rs. 50,000/- to foreign tourists (not NRIs) against ATM Receipts based on the following documents. • Valid Passport and VISA • Ticket confirmed for departure within 7 days. • Original ATM slip (to be verified with the original debit/ credit card).
India will continue to allow 100% Foreign Direct Investment for new ventures in the pharma sector. The decision was taken at a high level meeting chaired by Prime Minister Dr Manmohan Singh to discuss the FDI policy in drugs and pharmaceutical sector held in New Delhi last night. An official release said, the move will facilitate addition of manufacturing capacities, technology acquisition and development of the pharma sector in the country.
PM chaired a high level meeting to discuss the FDI policy in drugs and pharmaceutical sector. The meeting was attended by Finance Minister, Sh Pranab Mukherji, Health Minister Sh Ghulam Nabi Azad, Commerce, Industry and Textile Minister Sh Anand Sharma, Pharmaceutical and Chemical Minister Sh MK Alagiri, Deputy Chairman Planning Commission Dr Montek Singh Ahulwalia, Member Planning Commission.
In terms of the A. P. (DIR Series) Circular Nos. 17 and 18 dated September 16, 2011, a resident individual has been permitted to make a gift / loan in rupees to a Non-Resident Indian /Person of Indian Origin close relative (s), subject to certain terms and conditions. One of the conditions is that the gift / loan amount should be within the overall limit of USD 200,000 per financial year as permitted under the LRS for a resident individual. Accordingly, the revised Application cum Declaration form for purchase of foreign exchange under the LRS is annexed.
Attention of Authorised Persons is invited to the paragraph C of the Annex I the Memorandum of Instructions governing money changing activities, issued vide A. P. (DIR Series) Circular No. 57 [A.P. (FL/RL Series) Circular No. 04], dated 9-3-2009 in terms of which the Guidelines for appointment of Agents/Franchisees by Authorized Dealers Category – I, Authorized Dealers Category – II and FFMCs have been prescribed.
DI into construction development activities in the education sector and in respect of old-age homes has been exempted from the conditionalities imposed on FDI in the construction development sector in general i.e. minimum area and built-up area requirement; minimum capitalization requirement; and lock-in period. These conditionalities perhaps posed a constraint to FDI coming into these areas since educational institutions like schools, colleges, universities etc. as well as old-age homes have their own special requirements which do not necessarily fit these conditionalities
WHAT IS THE BACKGROUND FOR Automated Data Flow (ADF)? Ans: In several of its functions, Reserve Bank of India relies on data submitted by banks and quality of data is of great importance. In order to meet the need for correct and consistent data, the Reserve Bank of India has initiated the project on Automated Data Flow (ADF).
Considering the specific needs of the infrastructure sector, the existing ECB policy has been reviewed in consultation with the Government of India and it has been decided to allow Indian companies which are in the infrastructure sector, where “infrastructure” is as defined under the extant guidelines on External Commercial Borrowings (ECB), to avail of ECBs in Renminbi (RMB), under the approval route, subject to an annual cap of USD one billion pending further review.
To benefit eligible borrowers, it has been decided, in consultation with the Government of India, to consider the ECB proposals from foreign equity holders (direct/indirect) and group companies under the approval route as under:- (i) Service sector units, in addition to those in hotels, hospitals and software, could also be considered as eligible borrowers if the loan is obtained from foreign equity holders. This would facilitate borrowing by training institutions, R &D, miscellaneous service companies, etc;
