Fema / RBI : Learn about the process and documentation required for FDI reporting in Form FC-GPR, including timelines, penalties, and other key...
Fema / RBI : Reserve Bank of India (RBI) has introduced a series of regulatory amendments to encourage the use of the Indian Rupee in cross-bor...
Fema / RBI : Key regulations for SNRR accounts, covering transaction processes, FEMA compliance, reporting responsibilities, and restrictions o...
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Fema / RBI : foreign currency accounts in India, eligibility criteria, transaction rules under FEMA, and updates to principal regulations. Stay...
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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...
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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 issues sixth amendment to Foreign Currency Account Regulations, 2015, extending Diamond Dollar Account validity period from tw...
Fema / RBI : RBI introduces a cap of ₹2,00,000 on the maximum compounding amount for certain FEMA contraventions. Details for banks and const...
Fema / RBI : RBI circular (April 2025) eases rules for Indian exporters using Bharat Mart warehouses in UAE, allowing longer payment terms and ...
Fema / RBI : RBI announces changes to FEMA compounding of contraventions. Learn about revised rules for application and payment processing....
Fema / RBI : Learn about RBI's Master Directions on compounding FEMA contraventions. Find details on application, eligibility, calculation, and...
An Indian party will now be allowed to open, hold and maintain Foreign Currency Account (FCA) abroad for the purpose of overseas direct investments subject to the following terms and conditions: The Indian party is eligible for overseas direct investments in terms of Regulation 6 (Regulation 7, if applicable) of Notification No. FEMA 120/RB-2004 dated July 7, 2004, as amended from time to time. The host country Regulations stipulate that the investments into the country is required to be routed through a designated account.
Attention of all Authorised Persons, who are authorised to issue foreign currency pre-paid cards to resident Indians visiting outside India, is invited to Para B(5) of the A. P. (DIR Series) Circular No. 46 dated June 14, 2005, in terms of which the use of such cards is limited to permissible current account transactions and subject to the prescribed limits under the Foreign Exchange Management (Current Account Transactions) Rules, 2000, as amended from time to time.
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:
Considering the developments in the global financial markets and the fact that domestic importers were experiencing difficulties in raising trade credit within the existing all-in-cost ceiling, the all-in-cost ceiling for trade credit was enhanced to 6 months Libor + 350 bps with effect from No vember 15, 2011 and was subject to review on March 31, 2012. On a review, it has been decided to continue with the enhanced all-in-cost ceiling for Trade Credits for a further period of six months as under:
Considering the developments in the global financial markets and the fact that borrowers were experiencing difficulties in raising ECBs within the existing all-in-cost ceiling, the all-in-cost ceiling for ECBs with average maturity of three and up to five years was enhanced to 6 months Libor + 350 bps with effect from November 23, 2011 and was subject to review on March 31, 2012. On a review, it has been decided to continue with the enhanced all-in-cost ceiling for a further period of six months in respect of ECBs as under:
With the advent of technology and penetration of internet access, the need for printing and supplying of GR forms by Reserve Bank does not exist any more. It has therefore, been decided to discontinue supplying/selling printed GR forms across the counter by Regional Offices of Reserve Bank. Therefore, with effect from July 1, 2012, GR forms shall be available only online at Reserve Bank’s website www.rbi.org.in at the following link:
A.P. (DIR Series) Circular No. 96 Creation of charge on immovable / movable property and other financial assets. Reckoning bank guarantee issued on behalf of JV / WOS for computation of Financial Commitment. Issuance of personal guarantee by the direct / indirect individual promoters of the Indian Party. Financial Commitment without equity contribution to JV / WOS. Submission of Annual Performance Report. Compulsorily Convertible Preference Shares (CCPS).
Acquiring qualification shares of an overseas company for holding the post of a Director . Acquiring shares of a foreign company towards professional services rendered or in lieu of Director’s remuneration. Acquiring shares in a foreign company through ESOP Scheme.
It has been decided that AD Category-I banks may allow repayment of such loans to NRE / Foreign Currency Non-Resident (Bank) [FCNR(B)] account of the lender concerned subject to the condition that the loan to the resident individual was extended by way of inward remittance in foreign exchange through normal banking channels or by debit to the NRE / FCNR(B) account of the lender and the lender is eligible to open NRE / FCNR(B) account within meaning of the Foreign Exchange Management (Deposit) Regulations, 2000 notified vide Notification No. FEMA 5/2000-RB dated May 3, 2000, as amended from time to time. Such credit shall be treated as an eligible credit to the NRE / FCNR(B) account in terms of Para 3(j) of Schedule-1 read with Para 5 of Scheule-2 of Notification No. FEMA 5/2000-RB, ibid.
With a view to further rationalizing the reporting mechanism, it has now been decided that AD Category-I banks should submit quarterly reports instead of monthly reports to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Trade Division, Amar Building, Mumbai – 400 001, giving details of the name and address of the firm / company in whose name the Diamond Dollar Account is opened, along with the date of opening / closing the Diamond Dollar Account with effect from the quarter ended March 2012, by the 10th of the month following the quarter to which it relates.
