Fema / RBI : Understand SOFTEX filing and Electronic Bank Realisation Certificate (EBRC) for service exporters. Learn the process, benefits, an...
Fema / RBI : Discover the RBIs Foreign Exchange Management (Overseas Investment) Regulations, 2022 and understand their purpose and obligations...
Fema / RBI : With the objective of integrating the extant reporting structures of various types of foreign investment in India, RBI introduced ...
Fema / RBI : FEMA regulates, prohibits and restricts acceptance of deposits by Person Resident in India from a Person Resident outside India (P...
Fema / RBI : 1. Who can issue? Any corporate (entity registered as a company under the Companies Act, 1956/ 2013) or body corporate (entity spe...
Fema / RBI : Explore the latest Foreign Direct Investment (FDI) policy amendments in Indias space sector. Understand the changes in caps, entry...
Corporate Law : In terms of instructions issued vide A.P. (Dir Series) circular No.45 dated September 16, 2013, the Reserve Bank of India had faci...
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 ceili...
Corporate Law : As per the extant ECB procedures, requests for reduction in the amount of ECB, changes in the drawdown schedule and reduction in t...
Corporate Law : The government says it will soon notify 100 per cent foreign direct investment in single-brand retail. Secretary in the Department...
Fema / RBI : Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could ...
Fema / RBI : Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s....
Fema / RBI : Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of...
Fema / RBI : Foreign exchange --Contravention of provisions of Act--Liable to prosecution as well as penalty by adjudicating officer--Proceedin...
Fema / RBI : The relief sought for by the petitioner seeking permission to be accompanied by an advocate of his choice when he appears before t...
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 : RBI updates Fully Accessible Route for non-residents, excluding new 14-year and 30-year government securities from FAR. Existing s...
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 ...
Import of Goods: Import Data Processing and Monitoring System (IDPMS)-To track the import transactions through banking system, Customs will modify the Bill of Entry format to display the AD Code of bank concerned, as reported by the importers. Primary data on import transactions from Customs and SEZ will first flow to the RBI secured server and thereupon depending on the AD code shall be shared with the respective banks for taking the transactions forward.
To further streamline the remittance arrangement under the Speed Remittance Procedure and make remittances cost-effective, it has now been decided to do away with the mandated requirement of maintenance of collateral or cash deposits by the Exchange Houses with whom the banks have entered into the Rupee Drawing Arrangement.
In case the remittance is made in more than one instalment, the remittance of all instalments should be made through the same AD. Further, where the remittance is to be made from the balances held in the NRO account, the Authorised Dealer should obtain an undertaking from the account holder stating that the said remittance is sought to be made out of the remitter’s balances held in the account arising from his/ her legitimate receivables in India and not by borrowing from any other person or a transfer from any other NRO account and if such is found to be the case, the account holder will render himself/ herself liable for penal action under FEMA.
With a view to rationalising foreign investment regime for Alternative Investment vehicles and to facilitating foreign investment in collective investment vehicles for real estate and infrastructure sectors, it has been decided, in consultation with the Government of India, to allow foreign investment in the units of Investment Vehicles registered and regulated by SEBI or any other competent authority.
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 the regulatory jurisdiction of […]
A new reporting format has also been introduced for Venture Capital Fund (VCF) / Alternate Investment Fund (AIF), Portfolio Investment and overseas investment by Mutual Funds as per the format in Annex II and Annex III. In case of reporting purchase and repurchase of ESOPs, the AD banks may continue to report the same in the existing format (Annex IV).
The online OID application has been suitably modified to enable the nodal office of the AD bank to view the outstanding position of all the APRs pertaining to an applicant including for those JV / WOS for which it is not the designated AD bank. Accordingly, the AD bank, before undertaking / facilitating any ODI related transaction on behalf of the eligible applicant, should necessarily check with its nodal office to confirm that all APRs in respect of all the JV / WOS of the applicant have been submitted;
In order to have consistency regarding eligibility of foreign investors in corporate debt, the criteria for investors and location for issuance of these bonds has been modified. The Rupee denominated bonds can only be issued in a country and can only be subscribed by a resident of a country: that is a member of Financial Action Task Force (FATF) or a member of a FATF- Style Regional Body; and
Under section 160 of the Companies Act, 2013, it is provided that a person who intends to nominate himself or any other person as a director in an Indian company is required to place a deposit with the said company. In this context, it has come to the notice of the Reserve Bank that there is ambiguity whether such deposits will require any specific approval from the Reserve Bank under Notification No. FEMA 5(R), in cases where the deposit is received from a person resident outside India.
Restrictions on deposits between a person resident in India and a person resident outside India:- Save as otherwise provided in the Act or Regulations or in rules, directions and orders made or issued under the Act, no person resident in India shall accept any deposit from, or make any deposit with, a person resident outside India:
