Category - FEMA

FAQ’s_Foreign Investments in India

Foreign Investments in India (Updated as on February 13, 2017) These FAQs attempt to put in place the common queries that users have on the subject in an easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred… Read More

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fifteenth Amendment) Regulations, 2016

In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations,… Read More

Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances

RBI/2016-17/198 DBR.No.BP.BC.49/21.04.048/2016-17 December 28, 2016 All Regulated Entities Madam / Dear Sir, Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances Please refer to circular DBR.No.BP.BC.37/21.04.048/2016-17 dated November 21, 2016. 2. On a review, it has been decided to: (i) Provide 30 days, in addition to the 60 days provided vide the… Read More

Cash deposit of more than Rs. 5000 restricted by RBI

RBI/2016-17/189 DCM (Plg) No. 1859/10.27.00/2016-17 December 19, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks Dear Sir, Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) -… Read More

Amendment to Master Direction on Know Your Customer

RBI/2016-17/177 DBR.AML.BC.47/14.01.01/2016-17 December 8, 2016 All Regulated Entities Dear Sir/Madam, Amendment to Master Direction on Know Your Customer In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949, it has been decided to make certain amendments to the Master Direction on Know Your Customer (KYC). The two major changes being… Read More

Amendment to Master Direction (MD) on KYC

RBI/2016-17/176 DBR.AML.BC. No. 18/14.01.001/2016-17 December 8, 2016 All Regulated Entities (REs) Dear Sir/Madam, Amendment to Master Direction (MD) on KYC In exercise of the powers conferred under Section 35A of the Banking Regulation Act, 1949 and section 35A read with section 56 of that Act, Rule 9 (14) of the Prevention of Money Laundering (Maintenance… Read More

2016 Amendment to the FCRA

2016 Amendment to the FCRA This article briefly examines the 2016 amendment to the Foreign Contribution (Regulation) Act, 2010 (“FCRA”), which allows Indian companies owned/controlled by foreign persons to be excluded from the purview of FCRA and how it directly defeats the very purpose of FCRA. Background The FCRA regulates receipt of foreign contribution from… Read More

Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit

RBI/2016-17/164 DCM (Plg) No. 1459/10.27.00/2016-17 November 29, 2016 The Chairman / Managing Director/ Chief Executive Officer, (All banks maintaining currency chests) Dear Sir, Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit Please refer to our circular. DCM (CC) No. 2598/03.02.05/2009-10 dated October 27, 2009, which inter alia stated that… Read More

Accounts under PMJDY – Precautions

RBI/2016-17/165 DCM (Plg) No. 1450/10.27.00/2016-17 November 29, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Accounts under PMJDY - Precautions Please refer to our circular DCM (Plg) No.1424/10.27.00/2016-16 dated… Read More

Withdrawal of cash – Weekly limit

RBI/2016-17/158 DCM (Plg) No.1424/10.27.00/2016-16 November 25, 2016 The Chairman / Managing Director/ Chief Executive Officer, Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks Dear Sir, Withdrawal of cash – Weekly limit Please refer to our circulars DCM (Plg) Nos. 1272/10.27.00/2016-17… Read More

Page 1 of 21712...10...Last »

Recent Articles

Recent Legal updates