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 Enforcement Directorate is set to file cases against Rajasthan Royals and the Board of Control for Cricket in India (BCCI) after its investigations found violations of foreign exchange rules, an official familiar with the development said.
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on July 12, 2010, Government has approved 18 Proposals of Foreign Direct Investment amounting to Rs. 2245.32 Crore approximately.
Keeping in view the special funding needs of the infrastructure sector, Reserve Bank of India (“RBI”) has issued a Circular (A.P. (DIR Series) Circular No. 4 dated 22 July, 2010) ‘ to liberalise the above refinancing restriction under a Take-out Finance Scheme. The said scheme is applicable to Indian corporates in the seaport and airport, roads including bridges and power sectors (eligible borrowers).
Foreign direct investment in new form of business, limited liability partnerships (LLPs), could be allowed without a cap, a highly placed source said.”The officials have reached a consensus for 100 per cent FDI in LLPs,” he said. Officials in the ministries of industry, finance and corporate affairs have been in regular consultations on the issue of allowing foreign direct investment (FDI) since the LLP form of business was notified in 2009.
The Cabinet is likely to consider the changes in the new Foreign Trade Bill to give a leg-up to exports. The Foreign Trade (Development and Regulation) Amendment Bill, which was introduced in the Rajya Sabha in 2009, was later referred to the standing committee of commerce.
The provisions of Section 15 of FEMA permit compounding of contraventions and empowers Reserve Bank of India (“RBI”) to compound any contravention, except under section 3 (a) of FEMA on an application made by the person committing such contravention. In order to simplify the procedures for compounding, the Government of India notified Foreign Exchange (Compounding Proceedings) Rules, 2000 (“Rules”).
Prime Minister Manmohan Singh today ruled out imposition of Tobin tax on capital inflows in the country, saying the situation in India has not not reached a problem stage.
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P.(DIR Series) Circular No.70 dated June 30, 2009 increasing the period of realisation and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export, subject to review after one year.
A.P. (DIR Series) Circular No. 56, June 28, 2010 The provisions of section 15 of FEMA, 1999 permit compounding of contraventions and, as such it empowers the Reserve Bank to compound any contravention as defined under section 13 of the FEMA, except the contraventions under section 3 (a) of FEMA, on an application made by the person committing such contravention. Attention of all the Authorised Dealer Category – I (AD Category – I) banks and their constituents is invited in this regard to the Foreign Exchange (Compounding Proceedings) Rules, 2000 notified by the Government of India vide G.S.R.No.383 (E) dated 3rd May 2000 as amended from time to time (copy as on date given at Annex – I) and the A.P. (DIR Series) Circular No.31 dated February 1, 2005.
Meanwhile, an NRO (non-resident ordinary) account gives one the privilege of depositing overseas earnings as well as Indian earnings. An NRO account can be in the form of saving, current and term deposit account.
