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...
Fema / RBI : Learn the rules for reinvesting proceeds from foreign equity sales without repatriating to India, covering ODI, OPI, and repatriat...
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 : 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...
Fema / RBI : RBI revises foreign exchange regulations for miscellaneous remittances, requiring Form A2 for all transactions. Read the latest up...
The Government of India has decided to raise the limit for external commercial borrowings to $30 billion from $20 billion before, a senior finance ministry official said on Friday. The government has decided not to raise the foreign institutional investor limit in government bonds, said the official, who did not wish to be named. FIIs can invest up to $10 billion in government bonds currently.
A.P. (DIR Series) Circular No. 69 – Performance Guarantees issued by the Indian Party -At present, ‘financial commitment’ of the Indian Party includes contribution to the capital of the overseas Joint Venture (JV) / Wholly Owned Subsidiary (WOS), loan granted to the JV / WOS and 100 per cent of guarantees issued to or on behalf of the JV/WOS. Keeping in mind the utility and usage of the instrument of performance guarantees in project executions abroad and also considering the risks associated with such guarantees vis-à-vis financial guarantees, it has been decided that only 50 per cent of the amount of the performance guarantees may be reckoned for the purpose of computing financial commitment to its JV/WOS overseas, within the 400 per cent of the net worth of the Indian Party as on the date of the last audited balance sheet. Further, the time specified for the completion of the contract may be considered as the validity period of the related performance guarantee. The Indian Party may report these guarantees in the similar way in which financial guarantees are being presently reported. In cases where invocation of the performance guarantees breach the ceiling for the financial exposure of 400 per cent of the net worth of the Indian Party, the Indian Party shall seek the prior approval of the Reserve Bank before remitting funds from India, on account of such invocation.
Export-Import Bank of India (Exim Bank) has concluded an Agreement, dated March 28, 2011 with the Government of the Republic of Mozambique, making available to the latter, a Line of Credit (LoC) of USD 20 million (USD twenty million) for financing eligible goods, services, machinery and equipment including consultancy services to be exported from India for the purpose of enhancing productivity of rice-wheat-maize cultivation in Mozambique.
A.P. (DIR Series) Circular No. 68 – It has been decided that for Initial Public Offers(IPO) related transient capital flows under the Application Supported by Blocked Amount(ASBA) mechanism, foreign currency-rupee swaps may be permitted to the FIIs subject to the following terms and conditions:
A. P. (DIR Series) Circular No. 67 – Currently, in terms of Section C (i) (d) of the A. P. (DIR Series) Circular No. 32 dated December 28, 2010, Foreign Institutional Investors (FIIs) are permitted to cancel and rebook upto two percent of the market value of the portfolio as at the beginning of the financial year. On a review, it has been decided to enhance the existing limit of two per cent as above to ten per cent with immediate effect. Other operational guidelines as also terms and conditions of the circular shall remain unchanged.
Please refer to our A.P.(DIR Series) Circular No.52 [A.P.(FL/RL Series) Circular No. 14], dated April 6, 2011 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies. Financial Action Task Force (FATF) has further issued a Statement on February 25, 2011 (copy enclosed) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within timeframe. The FATF, in the Statement has called upon its members to consider the information given in the Statement.
A.P. (DIR SERIES) CIRCULAR NO. 65, DATED 20-5-2011 Please refer to our A.P. (DIR Series) Circular No. 51, [A.P. (FL/RL Series) Circular No. 13], dated April 6, 2011 forwarding the Financial Action Task Force (FATF) Statement identifying a list of jurisdictions which have strategic AML/CFT deficiencies. FATF has further issued a Statement on February 25, 2011 (copy enclosed) calling upon jurisdictions listed in the Statement to complete the implementation of their action plan within the timeframe. The FATF, in the Statement has called upon its members to consider the information given in the statement.
A.P. (DIR SERIES) CIRCULAR NO. 64, DATED 20-5-2011 Please refer to our A.P. (DIR Series) Circular No.50 {A.P. (FL/RL Series) Circular No.12} dated April 6, 2011 on risks arising from the deficiencies in AML/CFT regime of Iran and Democratic People’s Republic of Korea (DPRK). Financial Action Task Force (FATF) has issued a further Statement on February 25, 2011 on the subject (copy enclosed) calling its members and other jurisdictions to apply counter-measures to protect the international financial system from the ongoing and substantial money laundering and terrorist financing (ML/FT) risks emanating from Iran and Democratic People’s Republic of Korea (DPRK).
A.P. (DIR SERIES) CIRCULAR NO. 63, DATED 20-5-2011 Financial Action Task Force (FATF) has issued a further Statement on February 25, 2011 on the subject (copy enclosed) calling its members and other jurisdictions to apply counter-measures to protect the international financial system from the ongoing and substantial money laundering and terrorist financing (ML/FT) risks emanating from Iran and Democratic People’s Republic of Korea (DPRK).
A.P. (DIR SERIES) CIRCULAR NO. 62, DATED 16-5-2011 APs (Indian Agents) should introduce a system of maintaining proper record of transactions prescribed under Rule 3, as mentioned below : (a) all cash transactions of the value of more than Rupees ten lakh or its equivalent in foreign currency; (b) all series of cash transactions integrally connected to each other which have been valued below Rupees ten lakh or its equivalent in foreign currency where such series of transactions have taken place within a month and the aggregate value of such transactions exceeds Rupees ten lakh;
