FEMA - Corporate Law Reporter

Compounding of Contraventions under FEMA, 1999

RBI/2012-13/153 A.P. (DIR Series) Circular No.11 July 31, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Foreign Exchange Management Act, 1999 (FEMA)- Compounding of Contraventions under FEMA, 1999 Attention of all the Authorised Dealer Category - I (AD Category - I) banks and their constituents is invited to A.P. (DIR Series)… Read More

˜Non Banking Financial Company-Micro Finance Institutions™ Directions Modifications

RBI/2012-13/161 DNBS (PD) CC.No.300 /03.10.038/2012-13 August 03 , 2012 All NBFCs Dear Sir, ˜Non Banking Financial Company-Micro Finance Institutions™ (NBFC-MFIs) Directions Modifications Please refer to the Directions issued vide RBI(PD)CC.250 dated December 02, 2011 wherein a new category of NBFCs, viz., Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) was created along with a regulatory framework… Read More

Relaxation in Branch Licensing Policy – Tier 2 Centres

RBI/2011-12/158 RPCD.CO.RRB.BL.BC.No. 19/03.05.90/2011-12 August 1, 2012 All Regional Rural Banks Dear Sir, Relaxation in Branch Licensing Policy - Tier 2 Centres Please refer to our circular RPCD.CO.RRB.BC.No.28/03.05.90-A/2011-12 dated November 18, 2010, permitting Regional Rural Banks (RRBs) to open branches in Tier 3 to Tier 6 centres (with population up to 49,999 as per Census 2001),… Read More

Simplification of the Procedure for Branch Licensing

RBI/2011-12/157 RPCD.CO.RRB.BL.BC.No.18 /03.05.90/2011-12 August 1, 2012 All Regional Rural Banks Dear Sir, Simplification of the Procedure for Branch Licensing Please refer to our circular RPCD.CO.RRB.BL.BC.No.90/03.05.90-A/2011-12 dated June 13, 2006, liberalising and simplifying the procedure for opening, shifting or merger of branches. 2. As per extant general policy on branch licensing the applications for opening, shifting,… Read More

The Non-Banking Financial Company Factors (Reserve Bank) Directions, 2012

RBI/2012-2013/140 DNBS (PD) CC. No. 297 / Factor / 22.10.91/ 2012-13 July 23, 2012 All NBFCs Dear Sir, The Non-Banking Financial Company Factors (Reserve Bank) Directions, 2012 The Central Government has notified the Factoring Regulation Act, 2011 on January 22, 2012. The Act aims to regulate Factors and assignment of receivables in favour of Factors,… Read More

Prudential Norms for Off-balance Sheet Exposures of Banks

RBI/2012-13/139 DBOD.No.BP.BC.31/21.04.157/2012-13 July 23, 2012 The Chairman and Managing Directors/ Chief Executive Officers of All Scheduled Commercial Banks (excluding RRBs and LABs) & All India Term-Lending & Refinancing Institutions Dear Sir, Prudential Norms for Off-balance Sheet Exposures of Banks Please refer to our circular DBOD.No.BP.BC.57/21.04.157/200809 dated October 13, 2008, in terms of which, any change in… Read More

Foreign Exchange Management Act, 1999 Submission of Revised A-2 Form

RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai - 400 001 RBI/2012-13/129 A.P. (DIR Series) Circular No. 5 July 12, 2012 To All Authorised Dealers in Foreign Exchange Madam/ Sirs, Foreign Exchange Management Act, 1999 Submission of Revised A-2 Form Attention of Authorised Dealers (ADs) is invited to A.P. (DIR Series) Circular No.77… Read More

Exchange Earner’s Foreign Currency (EEFC) Account

RBI/2012-13/135 A. P. (DIR Series) Circular No. 8 July 18, 2012 To All Authorised Dealer Category- I Banks Madam/ Sir, Exchange Earner's Foreign Currency (EEFC) Account Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 124 dated May 10, 2012. 2. On a review, it… Read More

Interest Rates on Deposits held in FCNR (B) Accounts

RBI/2012-13/137 DBOD.Dir.BC. 30/13.03.00/2012-13 July 18, 2012 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam, Interest Rates on Deposits held in FCNR (B) Accounts Please refer to paragraph 4 of the directives enclosed to our circular DBOD.Dir.BC.49/13.03.00/2000-2001 dated November 4, 2000 and mail box clarification dated May 13, 2005 in terms of which it was clarified… Read More

Scheme for Investment by Qualified Foreign Investors (QFIs) in Indian corporate debt securities

RBI/2012-13/134 A. P. (DIR Series) Circular No. 7 July 16, 2012 To All Category I- Authorised Dealer banks Madam / Sir, Scheme for Investment by Qualified Foreign Investors (QFIs) in Indian corporate debt securities Attention of Authorised Dealers Category I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No.8 dated August 9,… Read More

Prudential Guidelines on Capital Adequacy Treatment of Head Office Debit Balance Foreign Banks

RBI/2012-13/121 DBOD.No.BP.BC.28/21.06.001/2012-13 09 July 2012 The Chief Executive Officers Foreign Banks Operating in India Dear Sir, Prudential Guidelines on Capital Adequacy Treatment of Head Office Debit Balance Foreign Banks A reference is invited to the paragraph 4.2.3 - Notes (iv) of the Master Circular on Capital Adequacy and Market Discipline- New Capital Adequacy Framework (NCAF)… Read More

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

RBI/2012-13/120 A.P. (DIR Series) Circular No. 2 July 6, 2012 All Category - I Authorised Dealer Banks Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 130 dated May 25,… Read More

Buyback / Prepayment of Foreign Currency Convertible Bonds

RBI/2012-13/114 A. P. (DIR Series) Circular No. 1; July 5, 2012 All Category-I Authorised Dealer Banks Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs) Attention of Authorised Dealer Category I (AD Category I) banks is invited to the A.P. (DIR Series) Circular No. 39 dated December 08, 2008 and A.P. (DIR Series) Circular No.75 dated… Read More