reserve bank of india

Introduction of Legal Entity Identifier for OTC derivatives markets

Fema / RBI - The Reserve Bank of India has mandated the implementation of the LEI number for all Corporates...

Read More

Benefits of registering Nidhi Company in India

Fema / RBI - The literal meaning of Nidhi is ‘Treasure’ and in financial market, however, Nidhi Company means a company which tries to cultivate the habit of saving by accepting deposits and providing loans amongst its members. Hence, the nature of the company is exactly the same as it sense and starting a Nidhi company is undoubtedly will be a go...

Read More

Necessity of abbreviation list of narrations in Bank Statement

Fema / RBI - Nowadays due to digitization we get our salary, dividends, interest etc. credited directly in our bank accounts. Similarly, various EMIs, School Fees, House Rent etc. are also debited from our bank accounts i.e. as per our standing instructions. However when we get our bank statement, we face a number of problems in reconciling our accoun...

Read More

Cancellation of Certificate of Registration of NBFC

Fema / RBI - Market Regulator RBI has issued various Show Cause Notices to Non-Banking Finance Companies who have failed to communicate the name, designation and address of the principal officer to Financial Intelligence Unit- India (FIU-IND) as directed in respect of Cancellation of Certificate of Registration for violations and non-compliances to ca...

Read More

How to Register NBFC

Fema / RBI - Non-Banking Financial Companies (NBFCs) have been making important contributions to India’s economy. However, the Reserve Bank of India (RBI) still controls the working of all NBFCs under the framework of RBI Act, 1934 and directions issued by it from time to time. ...

Read More

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....

Read More

Privacy, data leak, data trail, strategic issues to need RBI focus on crypto currency: ASSOCHAM

Fema / RBI - Describing the RBI move to explore and examine introduction of official virtual currency in the country, the ASSOCHAM has, however, cautioned that extreme care be taken to ensure safety of the data trail that the crypto currency can leave as it changes hands through a range of electronic devices and platforms....

Read More

Linking of SWIFT to Core Banking System to avoid misuse

Fema / RBI - Linking of SWIFT to the Core Banking System Department of Economic Affairs has apprised that in pursuance to the announcement made in the Budget Speech 2018-19 (para75), a Steering Committee on Fintech related issues was constituted to consider various issues relating to development of Fintech space in India with a view to make Fintech re...

Read More

Fulfilled obligations under PML Rules: RBI to NBFCs

Fema / RBI - Non-Compliant NBFCs which have not fulfilled their obligations under PML Rules asked to do so Prevention of Money Laundering Act, 2002 (PMLA) and the Rules impose obligation on reporting entities (RE’s) including Non-Banking Financial Companies (NBFC’s) to verify identity of clients, maintain records and furnish information to FIU-IND...

Read More

Banking Regulatory Powers Should Be Ownership Neutral

Fema / RBI - I speak today to highlight some fundamental fissures that exist in the regulation of banks, in particular, public sector banks (PSBs). It has been slightly over a month since the latest fraud in the Indian banking sector broke news....

Read More

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 ...

Read More

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...

Read More

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...

Read More

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...

Read More

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...

Read More

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...

Read More

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....

Read More

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...

Read More

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 ...

Read More

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...

Read More

Recent Posts in "reserve bank of india"

Introduction of Legal Entity Identifier for OTC derivatives markets

RBI/2016-17/314 FMRD.FMID No.14/11.01.007/2016-17 (01//0/6/20)

The Reserve Bank of India has mandated the implementation of the LEI number for all Corporates...

Read More
Posted Under: Fema / RBI |

Benefits of registering Nidhi Company in India

The literal meaning of Nidhi is ‘Treasure’ and in financial market, however, Nidhi Company means a company which tries to cultivate the habit of saving by accepting deposits and providing loans amongst its members. Hence, the nature of the company is exactly the same as it sense and starting a Nidhi company is undoubtedly will be a go...

Read More
Posted Under: Fema / RBI |

Necessity of abbreviation list of narrations in Bank Statement

Nowadays due to digitization we get our salary, dividends, interest etc. credited directly in our bank accounts. Similarly, various EMIs, School Fees, House Rent etc. are also debited from our bank accounts i.e. as per our standing instructions. However when we get our bank statement, we face a number of problems in reconciling our accoun...

Read More
Posted Under: Fema / RBI |

Cancellation of Certificate of Registration of NBFC

Market Regulator RBI has issued various Show Cause Notices to Non-Banking Finance Companies who have failed to communicate the name, designation and address of the principal officer to Financial Intelligence Unit- India (FIU-IND) as directed in respect of Cancellation of Certificate of Registration for violations and non-compliances to ca...

Read More
Posted Under: Fema / RBI |

How to Register NBFC

Non-Banking Financial Companies (NBFCs) have been making important contributions to India’s economy. However, the Reserve Bank of India (RBI) still controls the working of all NBFCs under the framework of RBI Act, 1934 and directions issued by it from time to time. ...

Read More
Posted Under: Fema / RBI |

Government / RBI taken all steps to meet unusual currency demand

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....

Read More
Posted Under: Fema / RBI |

Sovereign Gold Bond Scheme: FAQs

(Updated as on April 13, 2018) In this article we have compiled  36 frequently asked question on the Sovereign Gold Bond scheme. Sovereign Gold Bond are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed […...

Read More
Posted Under: Fema / RBI |

Due-diligence of NBFC (Non Banking Financial Company).

NBFC remains for a non-banking financial company registered under section 45-I of Reserve Bank of India Act, 1934. This is an essential piece of financial service Industry in the nation, creating and deploying fund for infrastructure to micro and small-medium sized industries in India. Its a somewhere part of the alternative source of fun...

Read More
Posted Under: Fema / RBI |

Privacy, data leak, data trail, strategic issues to need RBI focus on crypto currency: ASSOCHAM

Describing the RBI move to explore and examine introduction of official virtual currency in the country, the ASSOCHAM has, however, cautioned that extreme care be taken to ensure safety of the data trail that the crypto currency can leave as it changes hands through a range of electronic devices and platforms....

Read More
Posted Under: Fema / RBI |

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 collateral, opening accounts of exchanges deali...

Read More
Page 1 of 7712345...102030...Last »

Browse All Categories

CA, CS, CMA (3,696)
Company Law (3,763)
Custom Duty (6,884)
DGFT (3,642)
Excise Duty (4,117)
Fema / RBI (3,424)
Finance (3,643)
Income Tax (26,987)
SEBI (2,859)
Service Tax (3,342)

Search Posts by Date

May 2018
M T W T F S S
« Apr    
 123456
78910111213
14151617181920
21222324252627
28293031