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Fema / RBI - Reserve Bank of India 1. Background 1.1 The digital revolution is taking the world by storm and no other area has witnessed such metamorphosis as payment and settlement systems, resulting in a myriad of digital options for the common man. Consumers now have a range of options to choose from when selecting a payment method […]...
Read MoreFema / RBI - In today’s policy announcement, while the RBI kept the policy rate unchanged – given the high inflation prints - it announced a number of measures to support growth. The announcement of the LTROs to provide durable liquidity and the CRR relief for on-lending to the auto, the housing and the MSME sector is likely to push credit growth....
Read MoreFema / RBI - Every company having foreign investment (FDI), is required to report Reserve Bank Of India. Below two conditions need to be looked in to in case of FDI . 1. Foreign investment must be in compliant to FDI policy. 2. Securities issued must be in accordance with the Foreign Exchange Management. As announced in the First Bi-monthly [&helli...
Read MoreFema / RBI - My routine visits to one of the biggest nationalized banks witnessed an interesting interaction between the bank’s Chief Manager and a messenger from a Gurugram court which involved a question to the bank whether it received money from one of the 63 accounts maintained by a defaulter builder with the said bank. It reminded me […]...
Read MoreFema / RBI - Article contains update on Amendment to Companies Act, 2013 and its Rules, Amendment to SEBI Law, NCLT Order, Highlights of Consumer Protection Bill, Labour laws, E-commerce guidelines for Consumer Protection ICSI – Recognition to Company Secretaries to act as Arbitrator under the Arbitration and Conciliation (Amendment) Act, 2019, upda...
Read MoreFema / RBI - The forex market is unique in several ways. A foreign currency is essentially a commodity outside its jurisdiction and therefore has attributes of an asset. But the exchange rate, the price of the foreign currency normalised to the home currency is an important macroeconomic variable that ought to be determined by economic fundamentals an...
Read MoreFema / RBI - Date : Apr 03, 2019 RBI releases Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions, 2019 under section 45 W of the RBI Act, 1934 The Reserve Bank of India today released Draft Rupee Interest Rate Derivatives (Reserve Bank) Directions 2019. Comments on the draft directions are invited from banks, market participants and oth...
Read MoreFema / RBI - Reserve Bank of India will take necessary steps, including issuance of a revised circular, as may be necessary, for expeditious and effective resolution of stressed assets....
Read MoreFema / RBI - Indian economy has witnessed an accelerated pace of domestic reforms in recent years. These reforms include, inter alia, the flexible inflation-targeting monetary policy framework, the Insolvency and Bankruptcy Code (IBC), the Goods and Services Tax (GST) and steps for enhancing foreign investments by liberalising the FDI regime and under...
Read MoreFema / RBI - This study estimates the duration of the investment cycle and examines the determinants of investment activity in India. Using the National Bureau of Economic Research (NBER) dating procedure, the study finds that the real investment rate in India followed a three-year cycle during the period from 1950-51 to 2017-18...
Read MoreDirectorate 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...
Read MoreKetan 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 ...
Read MoreBinod 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...
Read MoreRadheshyam 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...
Read MoreP. 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 ...
Read MoreRBI/2019-20/185 FMRD.FMID.No.24/11.01.007/2019-20 - (27/03/2020) - In the context of the difficulties arising from the outbreak of novel coronavirus disease (COVID-19), and with a view to enabling smoother implementation of the LEI system in non-derivative markets, the timeline for implementation (Phase III) is extended...
Read MoreRBI/2019-20/188 DOR.BP.BC.No.45/21.06.201/2019-20 - (27/03/2020) - As announced in para 9 of the Statement on Developmental and Regulatory Policies issued along with the Seventh Bi-monthly Monetary Policy Statement 2019-20, the implementation of the last tranche of 0.625% of Capital Conservation Buffer (CCB) shall stand deferred from March 31, 2020 to September ...
Read MoreRBI/2019-20/187 DOR.BP.BC.No.46/21.04.098/2019-20 - (27/03/2020) - On a review, it has now been decided to defer the implementation of NSFR guidelines by six months. These guidelines will now come into effect from October 1, 2020 as against April 1, 2020....
Read MoreRBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 - (27/03/2020) - The rescheduling of payments, including interest, will not qualify as a default for the purposes of supervisory reporting and reporting to Credit Information Companies (CICs) by the lending institutions. CICs shall ensure that the actions taken by lending institutions pursuant to the above announcem...
Read MoreRBI/2019-2020/182 FMOD.MAOG.No.140/01.01.001/2019-20+5 Others - (27/03/2020) - As announced in the Seventh Bi-monthly Monetary Policy Statement, 2019-20, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 75 basis points from 5.15 per cent to 4.40 per cent with immediate effect....
Read MoreRBI/2019-20/185 FMRD.FMID.No.24/11.01.007/2019-20 - (27/03/2020) -
RBI/2019-20/188 DOR.BP.BC.No.45/21.06.201/2019-20 - (27/03/2020) -
RBI/2019-20/187 DOR.BP.BC.No.46/21.04.098/2019-20 - (27/03/2020) -
RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 - (27/03/2020) -
RBI/2019-2020/182 FMOD.MAOG.No.140/01.01.001/2019-20+5 Others - (27/03/2020) -
Press Release: 2019-2020/2129, Press Release : 2019-2020/2130 - (27/03/2020) -
RBI/2019-20/179 FIDD.CO.Plan.BC.No.19/04.09.01/2019-20 - (23/03/2020) -
RBI/2019-20/178 DOR.No.BP.BC.43 /21.01.003/2019-20 - (23/03/2020) -
Press Release: 2019-2020/2096 - (21/03/2020) -
Press Release: 2019-2020/2091-SEBI - (20/03/2020) -
