Category - FEMA

FDI declined by 26 percent

Despite efforts by the Commerce & Industry Ministry, India's Foreign Direct Investment (FDI) during April-February 2010-11 has declined by 25.6 per cent to USD 18.3 billion. During April-February 2009-10, the country's FDI stood at USD 24.62 billion. Commerce and Industry Minister Anand Sharma said that fresh investments particularly in services sector--computer (software and hardware), telecom, construction and… Read More

Tag: FDI

RBI mulls rules to improve bank’s services

Are you tired of Bank's services and don't know what to do ! Good news. RBI understands you and is working hard to provide you more "value for your money". Almost a year after RBI put in motion a process to improve banks' customer service practices, a high-profile panel set up by the central bank… Read More

Tag: rbi

India eager to attract FDI

Prime Minister Manmohan Singh said in the Chinese town of Sanya in a statement at the BRICS summit that"India is eager to absorb foreign direct investment and is taking adequate measures to attract FDI . Singh also said the Indian economy was well positioned to achieve annual long-term growth of 9 percent or more. The Prime… Read More

Central Registry Operationalized to prevent fraud and multiple lending in the same property

The Central Registry has become operational with effect from 31st March,2011. The objective of setting-up the Central Registry is to prevent frauds in loan cases involving multiple lending from different banks on the same immovable property. The Central Registry Of Securitisation Asset Reconstruction And Security Interest Of India, a Government Company, licensed under Section 25… Read More

NBFC licences put on hold till revision of Guidelines

RBI is in the midst of tightening rules for lenders who don't fall under the 'banks' category and has told some of the applicants for the finance company licence that it may not issue one till the new rules come into force. It might take RBI two to three months to come out with its… Read More

Tag: NBFC

Proposed guidelines for issue of banking licenses soon

The Reserve Bank of India is expected to  bring out a second draft of the proposed guidelines for issuance of new banking licences by end of April, 2011. After the Finance Minister's announcement in 2010-11 Budget, the Reserve Bank had brought out a discussion paper in August 2010 on dispensing banking licences to business houses… Read More

Relaxation in time limit for realisation of export proceeds from Goods and Software

RBI/2010-11/457; A.P. (DIR Series) Circular No. 47 Time limit for remittance of proceeds increased to 12 months from 6 months upto 30th Sept, 2011. March 31, 2011 To All Category - I Authorised Dealer Banks Madam / Sir, Export of Goods and Software Realisation and Repatriation of export proceeds Liberalisation Attention of Authorised Dealer Category-I (AD… Read More

Prohibition on NBFCs to be partners in Partnership Firms

The Reserve Bank of India (RBI) vide Notification RBI/2010-11/453 dated March 30, 2011 has prohibited Non-Banking Financial Companies (NBFCs) from contributing capital to any partnership firm or being partners in partnership firms. In cases of existing partnerships, NBFCs may seek early retirement from the partnership firms. Pursuant to the amendment, RBI has inserted Paragraph 19A… Read More

Tag: NBFC

Consolidated Foreign Direct Investment (FDI) Policy, April 2011

Department of Industrial Policy & Promotion has issued the Consolidated FDI Policy , which will be effective from 1st April 2011. The Policy will subsumes and supersedes all Press Notes/Press Releases/Clarifications/ Circulars issued by DIPP, which were in force as on March 31, 2011. This circular shall be further superseded by a Circular 2 of… Read More

Tag: FDI

Revised Annual return on Foreign Liabilities and Assets

Introduction of Annual return on Foreign Liabilities and Assets reporting by Indian Companies and discontinuation of the Part B of form FC-GPR RBI has discontinued the reporting of Annual Form FC GPR Part B and introduced a new Annual return on Foreign Liabilities and Assets. The Balance Sheet for the corresponding year also need to be… Read More

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