reserve bank of india

Whither Decision Making In Banks?

Fema / RBI - The most important aspect in credit appraisal and assessment and monitoring in banking is the capacity of the sanctioning, monitoring, and reviewing authorities to take timely decision based on the performance of the past and the prospects of the future to meet the challenges of the present so as to prevent the account becoming Non-Perfor...

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Analysis of Single Master Form and The Firms

Fema / RBI - In alignment with the Indian Governments continuing efforts to bolster foreign investment and ease of doing business in India, the Reserve Bank of India (RBI) issued an important circular A.P. (DIR Series) Circular No.30 on 7th June, 2018 with the aim of simplifying reporting under the Foreign Exchange and Management Act, 1999 (FEMA)....

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Clarification on RBI Latest Online Application FIRMS (Foreign Investment Reporting and Management System)

Fema / RBI - The Reserve Bank has come up with the objective of integrating the extant reporting structures of various types of foreign investment in India, and for this purpose it will introduce a Single Master Form (SMF) subsuming all the existing reports....

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Foreign investment in India – Reporting in Single Master Form- An analysis

Fema / RBI - The Reserve Bank of India (RBI’), with the objective of integrating the various reporting structures of foreign investment in India, has introduced a Single Master Form (SMF). The SMF would be required to be filed online and would provide a facility for reporting total foreign investment in an Indian entity....

Read More

Reporting in Single Master Form for Foreign Investment In India

Fema / RBI - RBI through its Master Circular dated June 7th, 2018 has introduced Single Master Form (SMF) for all types of reporting in respect to Foreign Investment In India. The SMF would be filed online. SMF would provide a facility for reporting total foreign investment in an Indian entity as also investment by persons resident outside India [&hel...

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Instruction for Safety of Lockers in Banks

Fema / RBI - Reserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provided to the customer, reviewing the systems in force for their operation on an ongoing basis and taking necessary steps, having well-documented security pr...

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Audit of Banks- RBI issued guideline for Audit and Auditor appointment

Fema / RBI - With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and selection as well as the procedure for appointment of such auditors....

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Several ATMs shown no-cash boards- Government aware of situation

Fema / RBI - Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems....

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Bankwise Gross NPA ratio of Public Sector Banks as on 31.03.2018

Fema / RBI - The gross NPA ratio for Public Sector Banks (PSBs) as a category is 14.6% in the financial year (FY) 2017-18, as per Reserve Bank of India (RBI) data. In the last 25 financial years, the gross NPA ratio for PSBs was highest in FY 1993-94 at 24.8% and was also higher in six other financial years....

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Government / RBI taken all steps to meet unusual currency demand

Fema / RBI - There has been unusual spurt in currency demand in the country in last three months. In the current month, in the first 13 days itself, the currency supply increased by Rs.45000 crores. This unusual spurt in demand is seen more in some parts of the country like Andhra Pradesh, Telangana, Karnataka, MP and Bihar....

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Unrealised loss on outstanding interest rate swaps would be allowable as business deduction

J P Morgan Chase Bank Vs. ADIT (ITAT Mumbai) - This decision is relevant to assessees following RBI guidelines for accounting for interest rates swaps. Companies which are claiming unrealised loss on outstanding interest rate swaps at the year end would find this ruling useful. While this ruling ...

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Mere disclosure of any income or loss without disclosing particulars of income or loss cannot be said to be a full and true disclosure of facts for determining total income under IT Act

Survidhi Financial Services Ltd. Vs. ACIT (ITAT Delhi) - Merely because the assessee is not required to disclose the particulars of sale and purchase of units in audit report obtained under the Companies Act, it cannot be a bona fide reason or an excuse for not disclosing the same in the statement of accounts or any annexure filed along with the return of...

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Adjustment of notional royalty, for the know how transferred to Indian company, against the purchase consideration for the products manufactured for t

Robert Bosch GmbH Vs. ACIT (ITAT Bangalore) - Recently, the Bangalore bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of Robert Bosch GmbH v. ACIT [2010-TII-149-ITAT-BANG-INTL] (the taxpayer) while rejecting the contention of the tax department held that the taxpayer is not expected to make royalty income with reference to...

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Gains on sale of shares allotted under cashless ESOP plan not taxable as capital gains

Mr. Bomi S. Billimoria Vs. A.C, Mumbai (ITAT Mumbai) - The Income-Tax Appellate Tribunal, Mumbai in the case of Mr. Bomi S. Billimoria vs. A.C Cir 23(1), Mumbai (ITA No.2120/Mum/1998) held that in case no payment has been made for acquiring shares under Employee Stock Option Plan, the gain on sale of said shares should not be liable to capital gains tax...

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Payment made to foreign company for outright purchase of plant and know-how cannot be considered as ‘Royalty’

CIT v. Maggronic Devices Pvt. Ltd. (Himachal Pradesh High Court) - Recently, the Himachal Pradesh High Court in the case of CIT v. Maggronic Devices Pvt. Ltd. [2009-TIOL-568-HC-HP-IT] held that payment made by the taxpayer to a Singapore company for outright purchase of plant and product knowhow cannot be considered as ‘Royalty’ within the provisions of the Inc...

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RBI prohibits dealing in Virtual Currencies by regulated entities

RBI/2017-18/154 DBR.No.BP.BC.104 /08.13.102/2017-18 - (06/04/2018) - Entities regulated by the Reserve Bank shall not deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs. Such services include maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collate...

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Revision in Limit for FPI Investment in Govt Securities WEF 01.04.2018

RBI/2017-18/150 A.P. (DIR Series) Circular No. 22 - (06/04/2018) - (a) The limit for FPI investment in Central Government securities (G-secs) would be increased by 0.5% each year to 5.5% of outstanding stock of securities in 2018- 19 and 6% of outstanding stock of securities in 2019-20....

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Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by Banks – Spreading of MTM losses and creation of Investment Fluctuation Reserve (IFR)

RBI/2017-18/147 DBR.No.BP.BC.102/21.04.048/2017-18 - (02/04/2018) - Please refer to Master Circular DBR.No.BP.BC.6/21.04.141/2015-16 dated July 1, 2015 on the captioned subject. Banks are required to mark to market (MTM) the individual scrips in Available for Sale (AFS) at quarterly/more frequent intervals and Held for Trading (HFT) at monthly/more frequent interval...

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RBI discontinues issuance of LoUs/ LoCs for Trade Credits for imports: Nirav Modi Effect

RBI/2017-18/139 A.P. (DIR Series) Circular No. 20 - (13/03/2018) - It has been decided to discontinue the practice of issuance of LoUs/ LoCs for Trade Credits for imports into India by AD Category –I banks with immediate effect. Letters of Credit and Bank Guarantees for Trade Credits for imports into India may continue to be issued subject to compliance with the ...

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Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions

RBI/2017-18/138 A.P. (DIR Series) Circular No. 19 - (12/03/2018) - RBI had earlier constituted a Working Group to review the guidelines for Hedging of Commodity Price Risk by Residents in overseas markets (Chairman: Shri Chandan Sinha). Based on the report of the working group and comments received on the report, draft directions for hedging of commodity price risk...

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reserve bank of india’s Popular Posts

Recent Posts in "reserve bank of india"

Instruction for Safety of Lockers in Banks

Reserve Bank of India (RBI) has issued instructions to banks regarding the safety of bank lockers for exercising due care and necessary precaution for the protection of the lockers provided to the customer, reviewing the systems in force for their operation on an ongoing basis and taking necessary steps, having well-documented security pr...

Read More
Posted Under: Fema / RBI |

Audit of Banks- RBI issued guideline for Audit and Auditor appointment

With regard to Statutory Audit, Reserve Bank of India (RBI) has informed that it has issued Guidelines for appointment of Statutory Central Auditors (SCAs) and Statutory Branch Auditors in Public Sector Banks (PSBs), which covers the norms on eligibility, empanelment and selection as well as the procedure for appointment of such auditors....

Read More
Posted Under: Fema / RBI |

Several ATMs shown no-cash boards- Government aware of situation

Regular monitoring of cash availability and ATM functionality has been done by the Government to ensure that sufficient currency notes are made available so that ATMs do not run dry in any eventuality and people do not face any problems....

Read More
Posted Under: Fema / RBI |

Bankwise Gross NPA ratio of Public Sector Banks as on 31.03.2018

The gross NPA ratio for Public Sector Banks (PSBs) as a category is 14.6% in the financial year (FY) 2017-18, as per Reserve Bank of India (RBI) data. In the last 25 financial years, the gross NPA ratio for PSBs was highest in FY 1993-94 at 24.8% and was also higher in six other financial years....

Read More
Posted Under: Fema / RBI |

Whither Decision Making In Banks?

The most important aspect in credit appraisal and assessment and monitoring in banking is the capacity of the sanctioning, monitoring, and reviewing authorities to take timely decision based on the performance of the past and the prospects of the future to meet the challenges of the present so as to prevent the account becoming Non-Perfor...

Read More
Posted Under: Fema / RBI |

Analysis of Single Master Form and The Firms

In alignment with the Indian Governments continuing efforts to bolster foreign investment and ease of doing business in India, the Reserve Bank of India (RBI) issued an important circular A.P. (DIR Series) Circular No.30 on 7th June, 2018 with the aim of simplifying reporting under the Foreign Exchange and Management Act, 1999 (FEMA)....

Read More
Posted Under: Fema / RBI |

Clarification on RBI Latest Online Application FIRMS (Foreign Investment Reporting and Management System)

The Reserve Bank has come up with the objective of integrating the extant reporting structures of various types of foreign investment in India, and for this purpose it will introduce a Single Master Form (SMF) subsuming all the existing reports....

Read More
Posted Under: Fema / RBI |

Foreign investment in India – Reporting in Single Master Form- An analysis

The Reserve Bank of India (RBI’), with the objective of integrating the various reporting structures of foreign investment in India, has introduced a Single Master Form (SMF). The SMF would be required to be filed online and would provide a facility for reporting total foreign investment in an Indian entity....

Read More
Posted Under: Fema / RBI |

Reporting in Single Master Form for Foreign Investment In India

RBI through its Master Circular dated June 7th, 2018 has introduced Single Master Form (SMF) for all types of reporting in respect to Foreign Investment In India. The SMF would be filed online. SMF would provide a facility for reporting total foreign investment in an Indian entity as also investment by persons resident outside India [&hel...

Read More
Posted Under: Fema / RBI |

What actually happened in PNB scam?

What actually happened in PNB scam? Let’s start from the concept. First, Let’s understand how things work. Some importer, let’s call him Nirav Modi or NM, wants to import pearls or diamonds and then sell them. The purchase requires money, so NM approaches a bank, say Punjab National Bank (PNB). PNB says look, I’ll give […]...

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Posted Under: Fema / RBI |
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