RBI Circular

Deferment of Payment on Transfer of Security: RBI fans India’s love affair with FDI

Reserve Bank of India recently made an amendment to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 dated May 20, 2016 by way of insertion of new Regulation 10A (“Regulation”). The new Regulation provides that when a transfer of shares/security between a resident buyer and a… Read More

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RBI Discontinues Centralised Funds Management System

RBI/2012-13/442 DPSS (CO) No. 1594/04.08.002/2012-13 March 15, 2013 The Chariman / Managing Director / Chief Executive Officer All CFMS Member Banks Madam / Sir, Discontinuation of CFMS As you are aware, funds transfer through Centralised Funds Management System (CFMS) has been discontinued with effect from January 1, 2013. The access to CFMS information and data… Read More

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