Currency

External Commercial Borrowings (ECB) Reporting arrangements

RBI/2013-14/495 A. P. (DIR Series) Circular No. 105 February 17, 2014 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Reporting arrangements Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB… Read More

Tags: Categories of New Testament manuscriptsCurrencyExternal Commercial BorrowingFederal Emergency Management AgencyForeign Exchange Management ActReserve Bank of India

How to identify pre-2005 currency notes

This note has the year of printing clearly printed in the middle of the bottom row on the backside. The Reserve Bank of India (RBI) has announced its plans to withdraw all currency noted issued before 2005. Financial experts believe that the move is largely aimed at removing fake or counterfeit currency embedded into the… Read More

Tags: BanknoteCounterfeit moneyCurrencyIndiaPrintingrbiReserve Bank of IndiaRun batted in

RBI Clarifications on Provisions under section 6 (4) of Foreign Exchange Management Act, 1999

RBI/2013-14/440 A.P. (DIR Series) Circular No. 90 January 9, 2014 To, All Category- I Authorised Dealer Banks and Authorised Banks Madam / Sir, Provisions under section 6 (4) of Foreign Exchange Management Act, 1999 - Clarifications Attention of Authorized Dealers is invited to Section 6 (4) of FEMA, 1999 in terms of which a person… Read More

Tags: Categories of New Testament manuscriptsCentral bankCurrencyFederal Emergency Management AgencyFEMAForeign Exchange Management ActIndiaReserve Bank

Overseas Foreign Currency Borrowings by Authorised Dealer Banks

RBI/2013-14/323 A.P. (DIR Series) Circular No. 61 October 10, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Overseas Foreign Currency Borrowings by Authorised Dealer Banks Attention of Authorised Dealer Category I banks is invited to Regulation no. (4)(2)(i) of Notification No. FEMA 3/RB-2000 dated May 3, 2000 as amended from time to time… Read More

Tags: Anno DominiCentral bankCurrencyFederal Emergency Management AgencyForeign Exchange Management ActIndiaOfficial GazetteRun batted in

Export Credit in Foreign Currency

RBI/2013-14/291 DBOD.Dir.BC.No. 57 /04.02.001/2013-14 September 25, 2013 All Scheduled Commercial Banks and Exim Bank (excluding RRBs) Dear Sir/ Madam, Export Credit in Foreign Currency Banks extend export credit in Indian Rupees as well as in foreign currency, such as Pre Shipment Credit in Foreign Currency (PCFC) and Post Shipment Credit in Foreign Currency (PSCFC), as… Read More

Tags: Central bankCommercial bankCurrencyExchange rateEXIM bankExportExport credit agencyIndian rupee

RBI Clarification on carrying of INR 10,000 by Non-residents and Residents

In terms of instructions issued vide A.P. (Dir Series) circular No.45 dated September 16, 2013, the Reserve Bank of India had facilitated encashment of rupees into convertible currencies even beyond Immigration/Customs desk.  This instruction has been misreported in certain sections of the media as a new restriction imposed by the Reserve Bank.  The Reserve Bank issues… Read More

Tags: BhutanCurrencyIndiaIndian rupeeNepalNon-resident Indian and person of Indian originReserve Bank of IndiaSeptember 16 2013

RBI Memorandum of Instructions governing money changing activities

RBI/2013-14/259 A.P. (DIR Series) Circular No. 45 September 16, 2013 To, All Authorised Persons in Foreign Exchange Madam/ Dear Sir, Memorandum of Instructions governing money changing activities  Location of Forex Counters in International Airports in India Attention of Authorised Persons is invited to Para 2 (b) of the A.P.(DIR Series) Circular No.38 dated October 25, 2011.… Read More

Tags: Airport authorityAuthorised PersonsCurrencyForeign Exchange CountersForeign Exchange Management ActForeign exchange marketIndiaIndian rupee

RBI enhancement of limit for Overseas Foreign Currency Borrowings by Authorised Dealer Banks

RBI/2013-14/240 A.P. (DIR Series) Circular No. 40 September 10, 2013 To All Category - I Authorised Dealer Banks Madam/ Sir, Overseas Foreign Currency Borrowings by Authorised Dealer Banks Enhancement of limit Attention of Authorised Dealer Category - I (AD Category I) banks is invited to A. P. (DIR Series) Circular No. 23 dated October 15, 2008,… Read More

Tags: Anno DominiCategories of New Testament manuscriptsCurrencyForeign Exchange Management ActIndiaReserve Bank of IndiaRun batted inWTA Tier I tournaments

RBI to open a Swap Window to attract FCNR(B) Dollar Funds

The Reserve Bank of India has been receiving requests from banks to consider a special concessional window for swapping foreign currency non-resident (banks) {FCNR(B)} deposits that will be mobilised as per the recent relaxations permitted by the Reserve Bank of India. It has been decided accordingly to offer such a window to the banks to… Read More

Tags: BankBasis pointCurrencyIndiaReserve Bank of IndiaSwap rateWTA Tier I tournaments

Damaged Currency Notes

Reserve Bank of India (RBI) has informed that no instance of damage of currency notes in various public sector banks across the country have been brought to their notice in the recent past. However, during the year 2010 currency notes amounting to Rs. 3.75 crores kept in Currency Chest at SBI Fatehpur, Barabanki (U.P.) were… Read More

Tags: BanknoteCurrencyFIFOLok SabhaLucknowministry of financeReserve Bank of IndiaRun batted in

Distribution of Banknotes and Coins – Review of Incentives and Penalties

RBI/2013-2014/179 DCM (CC) No. G- 10/03.39.01/2013-14 August 12, 2013 The Chairman & Managing Directors / Chief Executive Officers All Scheduled Commercial banks (Including RRBs and UCBs) Dear Sir/Madam Distribution of Banknotes and Coins - Review of Incentives and Penalties Please refer to paragraph 109 of the Monetary Policy Statement 2013-14 announced on May 03, 2013… Read More

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Rate of exchange of conversion of each of the foreign currency with effect from August 02, 2013

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS Notification No. 81/2013-Customs (N.T.) DATED THE 1st August, 2013 10 Shravana, 1935(SAKA) S.O. 2329(E).  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of… Read More

Tags: Central Board of Excise & CustomsControlled Substances ActCurrencyExchange rateGazette of IndiaGovernment of IndiaKuwaiti dinarministry of finance

Rate of exchange of conversion of each of the foreign currency with effect from June 21, 2013

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, PART-II, SECTION 3, SUB-SECTION (ii), EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS NOTIFICATION NO. 63/2013-CUSTOMS (N.T.) DATED THE 20th June, 2013 30 Jyaistha, 1935(SAKA) S.O. (E).  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of… Read More

Tags: Central Board of Excise & CustomsControlled Substances ActCurrencyExchange rateGazette of IndiaGovernment of IndiaKuwaiti dinarministry of finance

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