Fema / RBI : The article explains how the RBI's Sixth Amendment widens SNRR account usage through IFSC branches while clarifying that it does n...
Fema / RBI : RBI has issued FAQs explaining how banks should implement swap facilities for FCNR(B) deposits, ECBs, and OFCBs. The clarification...
Fema / RBI : The article explains RBI’s decision to reduce the export proceeds realization period from 15 months to 9 months and its impact o...
Fema / RBI : The 2026 FEMA amendment removes uncertainty surrounding INR borrowings by resident individuals from NRIs and OCI relatives. The RB...
Fema / RBI : The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Fema / RBI : BCAS submits comments on RBI’s draft External Commercial Borrowings (ECB) regulations, seeking clarity on eligibility, KYC norms...
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...
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Fema / RBI : The RBI has withdrawn non-operative FEMA circulars after reviewing directives issued since June 2000. The ruling helps Authorised ...
Fema / RBI : RBI has rationalised FEMA reporting by introducing revised return formats, discontinuing several reports, and easing compliance re...
Fema / RBI : RBI has allowed Authorised Dealer Category-I banks to exclude hedged positions arising from FCNR(B) deposits, ECBs, and OFCBs whil...
Fema / RBI : The RBI has directed all AD Category-I banks to submit daily data on FCNR(B) deposits, ECBs, and OFCBs mobilized under its swap fa...
Fema / RBI : RBI's Sixth Amendment to the FEMA Deposit Regulations broadens the scope of SNRR accounts by permitting IFSC branches to maintain ...
Of late, we have been receiving a number of applications for compounding of contraventions of FEMA, 1999 which are submitted without obtaining proper approvals or permission from the concerned authorities leading to avoidable correspondence with the applicants and also return of applications. In case the application has to be returned for this reason or any other reason, the application fees of Rs.5000/- received along with the application fees is also returned.
. It has been decided to move the NRD-CSR reporting to eXtensible Business Reporting Language (XBRL) platform to provide validations for processing requirement in respect of existing NRD schemes, improve data quality, enhance the security-level in data submission, and enable banks to use various features of XBRL-based data submission, and tracking.
In this connection, it is clarified that as the realization and repatriation period stipulation in terms of A.P. (DIR Series) Circular No. 52 dated November 20, 2012 was valid till March 31, 2013 only, the time period for realization and repatriation of export proceeds from April 01, 2013 onwards till September 30, 2013, shall be reckoned as nine months from the date of export.
As per the extant guidelines, Indian companies in the manufacturing, infrastructure sector (as defined under the extant ECB policy) and hotel sector, which are consistent foreign exchange earners, are allowed to avail of ECB for repayment of outstanding Rupee loan(s) availed of from the domestic banking system and / or for fresh Rupee capital expenditure under the Approval Route.
It has also been decided that for availment of trade credit, the period of trade credit should be linked to the operating cycle and trade transaction. AD banks may ensure that these instructions are strictly complied with.
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 112 dated April 20, 2012 relating to ECB. On a review, it has been decided that the instructions contained in the above mentioned circular will continue to be applicable till September 30, 2013 and is subject to review thereafter.
As per the extant FEMA provisions, the proposal of acquisition of the shares of Society for Worldwide Interbank Financial Telecommunication (SWIFT), Belgium by the resident bank is considered by the Reserve Bank on case to case basis under the approval route.
On a review, it has been decided that the all-in-cost ceiling as specified in A.P. (DIR Series) Circular No. 99 dated March 30, 2012 will continue to be applicable till September 30, 2013 and is subject to review thereafter.
As per the extant guidelines, non-banking financial companies (NBFCs) are allowed to avail of ECB under approval route from multilateral financial institutions, reputable regional financial institutions, official export credit agencies and international banks with minimum average maturity of 5 years to finance import of infrastructure equipment for leasing to infrastructure projects.
The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India had, vide Press Notes 2 and 3 (2009 series) dated February 13, 2009, issued guidelines for calculation of total foreign investment, i.e., direct and indirect foreign investment in Indian companies and for establishment of Indian companies/ transfer of ownership or control of Indian companies from resident Indian citizens to non-resident entities
