Amendment in Regulations: Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015: Reserve Bank of India has issued Notification No. FEMA. 359/2015-RB, dated 2nd Dec, 2015 further amending Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004 by inserting the following provisos: a. Amendment to Regulation 21(2)(ii) After …
Amendment in Regulations: Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015: Reserve Bank of India has in consultation with the Central Government issued Notification No. FEMA. 345/2015-RB, dated 16.11.2015 further amending Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 by substituting the existing Explanation (i) in sub-regulation (b) of Regulation 4 …
I. Annual Return on Foreign Liabilities and Assets (FLA Return) – Reporting by Limited Liability Partnerships dated 21.10.2015 In order to capture the statistics relating to Foreign Direct Investments (FDI), both inward and outward, by Limited Liabilities Partnerships (LLPs) in India, it has been decided that henceforth, all LLPs that have received FDI and/or made …
1. Constitution of Audit Committee of the Board: RBI vide Circular No. RBI/2015-16/181, DBS.ARS.BC 4/08.91.020/2015-16 dated, 24th September, 2015, in relation to Constitution of the Audit Committee of the Board (ACB) has advised all the public sector banks as follows: “Should a bank have more than one ED, the ED in-charge of internal inspection and …
1. Changes in RTGS time window: RBI Vide Notification No: RBI/2015-16/168 dated September 01, 2015 inviting reference to the Reserve Bank of India press release number 2015-2016/528 dated August 28, 2015 on “Bank Holiday on Second & Fourth Saturdays from September 1; RBI to offer its Support Services to Banks on Working Saturdays. Accordingly, RTGS will …
1. Liquidity Adjustment Facility – Repo and Reverse Repo Rates It has been decided to reduce the Repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 7.50 per cent to 7.25 per cent with immediate effect. Consequent to the change in the Repo rate, the Reverse Repo rate under the LAF will …
1. Foreign Exchange Management (Permissible Capital Account Transactions) (Third Amendment) Regulations, 2015 The Reserve Bank of India (RBI) has amended the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000, vide Notification No. FEMA. 341/2015-RB dated May 26, 2015. RBI has allowed resident individual to draw from an authorized person foreign exchange not exceeding USD …
1. Interest Rates on Deposits RBI has vide its circular RBI/2014-15/554 DBR.No.Dir.BC.87/13.03.00/2014-15 dated 16th April, 2015 stated that banks are allowed to offer differential rates of interest on term deposits on the basis of tenor for deposits less than Rs.1 crore and on the basis of quantum and tenor on term deposits of Rs. 1 …
1. Foreign Trade Policy- 2015-2020 The Central Government has notified the Foreign Trade Policy 2015-20 which shall come into effect from 1st April, 2015. 2. External Commercial Borrowing (ECB) Policy — Review of all-in-cost ceiling RBI through its Circular A.P. (DIR Series) Circular No.80, dated March 03, 2015 has informed the Stakeholders that the all-in-cost …
Foreign Exchange Management Act, 1999 – Import of Goods into India As per the existing regulations, applications by persons, firms and companies for making payments, exceeding USD 5,000 or its equivalent towards imports into India must be made in Form A-1. Reserve Bank of India has vide its circular RBI/2014-15/467 A. P. (DIR Series) Circular …
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