Fema Notifications

RBI: Foreign Exchange Management (Overseas Investment) Regulations, 2022

Fema / RBI - Foreign Exchange Management (Overseas Investment) Regulations, 2022 was published by Government of India vide its official gazette notification dated August 22, 2022 on above subject. The reference is as under: Foreign Exchange Management (Overseas Investment) Regulations, 2022 Let us learn the details in a simple way to widen our learnin...

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Form FCGPR (Theoretical And Practical Aspects)

Fema / RBI - With the objective of integrating the extant reporting structures of various types of foreign investment in India, RBI introduced Single Master Form (SMF) through its Circular RBI/2017-18/194 A.P (DIR Series) Circular No. 30. Dated June 07, 2018 w.e.f. September 1, 2018. SMF Form provides reporting of various forms for foreign investment ...

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Maintenance of Accounts in India by a Person Resident outside India

Fema / RBI - FEMA regulates, prohibits and restricts acceptance of deposits by Person Resident in India from a Person Resident outside India (PROI) and prescribes maintenance of accounts in India by PROI. This article provides an insight to the same....

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FAQS on Issuance of Rupee denominated bonds overseas

Fema / RBI - 1. Who can issue? Any corporate (entity registered as a company under the Companies Act, 1956/ 2013) or body corporate (entity specially created out of a specific act of the Parliament) is eligible to issue Rupee denominated bonds overseas. Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) coming under th...

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Consolidated FDI Policy of 2015 – Key changes & Comparative

Fema / RBI - The Ministry of Commerce & Industry released the consolidated Foreign Direct Investment policy of 2015 effective from May 12, 2015. We list below the key changes. Further, a detailed comparative of changes incorporated in FDI Policy 2015 juxtaposed with the consolidated FDI policy of 2014 is specified in Annexure A. ...

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Carrying of INR 10,000 by Non-residents and Residents : RBI Clarifies

Fema / RBI - In terms of instructions issued vide A.P. (Dir Series) circular No.45 dated September 16, 2013, the Reserve Bank of India had facilitated encashment of rupees into convertible currencies even beyond Immigration/Customs desk.  This instruction has been misreported in certain sections of the media as a new restriction imposed by the Reserv...

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Fema – Review of all-in-cost (AIC) on External Commercial Borrowings (ECB) and Trade Credit

Fema / RBI - On a review of the conditions in the global financial markets, it has been decided to continue with the enhanced all-in-cost ceiling for ECB and trade credit for a further period of six months as under:...

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RBI permission no longer required for cut in sanctioned ECB limit

Fema / RBI - As per the extant ECB procedures, requests for reduction in the amount of ECB, changes in the drawdown schedule and reduction in the all-in-cost of the ECB after obtaining the loan registration number (LRN) is required to be referred by the bank concerned to the RBI for necessary approval. Simplifying norms for overseas borrowers, the RBI...

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Govt to notify 100% FDI in single-brand retail soon

Fema / RBI - The government says it will soon notify 100 per cent foreign direct investment in single-brand retail. Secretary in the Department of Industrial Policy and Promotion (DIPP) P K Chaudhery said this in response of a question about issuance of notification of 100 per cent FDI in single-brand retail....

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Foreign individuals can invest directly in public issues

Fema / RBI - In a major policy decision, the Central Government has decided to allow Qualified Foreign Investors (QFIs) to directly invest in Indian equity market in order to widen the class of investors, attract more foreign funds, and reduce market volatility and to deepen the Indian capital market. QFIs have been already permitted to have direct ac...

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FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable

Directorate Of Enforcement Vs. Subhash Muljimal Gandhi (Delhi High Court) - Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could have been awarded to the respondent on the seized Indian currency only. The learned Single Judge has however applying the said Rule also awarded interest on the seized fo...

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SC asks Ketan Ketan Parikh and Co to Deposit deposit 50 percent of penalty imposed for Fema violations

Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court of India) - Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s. Panther Fincap and Management Services Ltd, were imposed a penalty of Rs. 80 Crores, 12 Crores and 40 Crores respectively by the Special Director of Enforcement, Mumbai ...

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Section 45(1A) of the Prevention of Money Laundering Act, 2002 – Binod Kumar Versus State of Jharkhand & Others

Binod Kumar Vs State of Jharkhand & Others (Supreme Court of India) - Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of illicit wealth by various former Ministers, including a former Chief Minister of the State. The money alleged to have been so earned is of unprecedented amounts. However...

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Foreign exchange –Contravention of provisions of Act–Liable to prosecution as well as penalty by adjudicating officer

Radheshyam Kejriwal Vs. State of West Bengal & ANR. (Supreme Court of India) - Foreign exchange --Contravention of provisions of Act--Liable to prosecution as well as penalty by adjudicating officer--Proceeding before adjudicating officer for acts considered offence--Exoneration in adjudication proceedings--No case for criminal proceedings thereafter on same facts--Foreign Exc...

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Appeal No.: Writ Petition Nos. 23110 & 23558 of 2009, dated: 26.03.2010

P. Giribabu Vs. Dy. Director of Enforcement (Madras High Court) - The relief sought for by the petitioner seeking permission to be accompanied by an advocate of his choice when he appears before the Enforcement Directorate in pursuance of the summons issued under section 37 of the Foreign Exchange Management Act, 1999 and recording of statement in the presence of ...

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RBI (Unhedged Foreign Currency Exposure) Directions, 2022

RBI/2022-23/131 DOR.MRG.REC.76/00-00-007/2022-23 - (11/10/2022) - Banks shall ascertain the Foreign Currency Exposure (FCE) of all entities2 at least on an annual basis. Banks shall compute the FCE following the relevant accounting standard applicable for the entity....

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Foreign exchange activities – SPDs to adhere to Prudential regulations

Notification No. RBI/2022-23/127 DOR.FIN.REC.No.73/03.10.117/2022-23 - (11/10/2022) - SPDs shall adhere to prudential regulations and other instructions contained in circular related to foreign exchange activities and other associated guidelines applicable to SPDs....

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RBI allows SPDs to offer all foreign exchange market-making facilities

Notification No. RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23 - (11/10/2022) - RBI permits SPD to offer foreign exchange products, as allowed from time to time, to their Foreign Portfolio Investor (FPI) clients....

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Late Submission Fee for reporting delays under FEMA

RBI/2022-23/122 A.P. (DIR Series) Circular No.16 - (30/09/2022) - Late Submission Fee (LSF) for reporting delays in Foreign Investment (FI), External Commercial Borrowings (ECBs) and Overseas Investment related transactions ...

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Rupee Drawing Arrangement – Enabling BBPS to process cross-border inbound Bill Payments

Circular No. RBI/2022-23/115 A.P. (DIR Series) Circular No. 14 - (15/09/2022) - Please refer to A.P. (DIR Series) Circular No. 120 dated April 10, 2014 on ‘Rupee Drawing Arrangement – Direct to Account Facility’, in terms of which, foreign inward remittances received under Rupee Drawing Arrangement (RDA) can be transferred to the KYC compliant beneficiary bank accounts ...

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Recent Posts in "Fema Notifications"

RBI (Unhedged Foreign Currency Exposure) Directions, 2022

RBI/2022-23/131 DOR.MRG.REC.76/00-00-007/2022-23 11/10/2022

Banks shall ascertain the Foreign Currency Exposure (FCE) of all entities2 at least on an annual basis. Banks shall compute the FCE following the relevant accounting standard applicable for the entity....

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Foreign exchange activities – SPDs to adhere to Prudential regulations

Notification No. RBI/2022-23/127 DOR.FIN.REC.No.73/03.10.117/2022-23 11/10/2022

SPDs shall adhere to prudential regulations and other instructions contained in circular related to foreign exchange activities and other associated guidelines applicable to SPDs....

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RBI allows SPDs to offer all foreign exchange market-making facilities

Notification No. RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23 11/10/2022

RBI permits SPD to offer foreign exchange products, as allowed from time to time, to their Foreign Portfolio Investor (FPI) clients....

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Late Submission Fee for reporting delays under FEMA

RBI/2022-23/122 A.P. (DIR Series) Circular No.16 30/09/2022

Late Submission Fee (LSF) for reporting delays in Foreign Investment (FI), External Commercial Borrowings (ECBs) and Overseas Investment related transactions ...

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Rupee Drawing Arrangement – Enabling BBPS to process cross-border inbound Bill Payments

Circular No. RBI/2022-23/115 A.P. (DIR Series) Circular No. 14 15/09/2022

Please refer to A.P. (DIR Series) Circular No. 120 dated April 10, 2014 on ‘Rupee Drawing Arrangement – Direct to Account Facility’, in terms of which, foreign inward remittances received under Rupee Drawing Arrangement (RDA) can be transferred to the KYC compliant beneficiary bank accounts through electronic mode, such as, NEFT, ...

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RBI: Foreign Exchange Management (Overseas Investment) Regulations, 2022

Foreign Exchange Management (Overseas Investment) Regulations, 2022 was published by Government of India vide its official gazette notification dated August 22, 2022 on above subject. The reference is as under: Foreign Exchange Management (Overseas Investment) Regulations, 2022 Let us learn the details in a simple way to widen our learnin...

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Foreign Exchange Management (Overseas Investment) Directions, 2022

RBI/2022-2023/110 A.P. (DIR Series) Circular No.12 22/08/2022

RESERVE BAK OF INDIA RBI/2022-2023/110 A.P. (DIR Series) Circular No.12 August 22, 2022 All Category – I Authorised Dealer Banks Madam/Sir Foreign Exchange Management (Overseas Investment) Directions, 2022 Overseas investments by persons resident in India enhance the scale and scope of business operations of Indian entrepreneurs by prov...

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Foreign Exchange Management (Overseas Investment) Regulations, 2022

No. FEMA 400/2022-RB 22/08/2022

These regulations may be called the Foreign Exchange Management (Overseas Investment) Regulations, 2022. They shall come into force on the date of their publication in the Official Gazette....

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Foreign Exchange Management (Overseas Investment) Rules, 2022

Notification No. G.S.R. 646(E) 22/08/2022

(1) These rules may be called the Foreign Exchange Management (Overseas Investment) Rules, 2022. (2) They shall come into force on the date of their publication in the Official Gazette....

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Authorised Dealer Category-I License eligibility for Small Finance Banks

RBI/2022-23/104 DOR.LIC.REC.60/16.13.218/2022-23 08/08/2022

All the scheduled SFBs, after completion of at least two years of operations as Authorised Dealer Category-II, will be eligible for Authorised Dealer Category-I license, subject to compliance with the eligibility norms given in the Annex-I....

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