FEMA - Corporate Law Reporter

RBI- Declaration of dividend by UCBs

RBI/2012-13/113 UBD.BPD. (PCB). Cir.No. 4/12.05.001/2012-13 July 5, 2012 The Chief Executive Officer, All Primary (Urban) Co-operative Banks Declaration of dividend by UCBs Please refer to our circular UBD.CO.BPD (PCB) Cir. No. 70 /12.05.001/2008-09 dated June 15, 2009 on the captioned subject advising the criteria for declaration of dividend by UCBs. 2. It has now been… Read More

Merchant Discount Rates (MDR) structure for debit card transactions

RBI/2012-13/110 DPSS.CO.PD.No. 27/02.14.003 /2012-13 July 04, 2012 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Authorised Card Payment Networks Madam / Dear Sir, Merchant Discount Rates (MDR) structure for debit card transactions Please refer… Read More

Master Circular on Compounding of Contraventions under FEMA, 1999

RBI/2012-13/9 Master Circular No.9/2012-13 (Updated as on January 20, 2012) July 2, 2012 To, All Authorised Dealer Category - I banks and Authorised Banks Madam / Sir, Master Circular on Compounding of Contraventions under FEMA, 1999 The compounding of contraventions under Foreign Exchange Management Act (FEMA), 1999 is a voluntary process by which an applicant… Read More

Master Circular on Money Transfer Service Scheme

RBI/2012-13/1 Master Circular No.1/2012-13 July 02, 2012 To All Authorised Persons, who are Indian Agents under the Money Transfer Service Scheme Madam / Sir, Master Circular on Money Transfer Service Scheme Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal… Read More

Master Circular on Non-Resident Ordinary Rupee (NRO) Account

RBI/2012-13/2 Master Circular No.2/2012-13 July 2, 2012 To, All Authorised Dealer Category I banks and Authorised banks Madam / Sir, Master Circular on Non-Resident Ordinary Rupee (NRO) Account The acceptance of deposits by an Authorised Dealer / Authorised bank from persons resident outside India are regulated by the provisions of sub-sections (1) and (2) of… Read More

Master Circular on Acquisition and Transfer of Immovable Property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin

RBI/2012-13/4 Master Circular No.4 /2012-13 July 02, 2012 To, All Category - I Authorised Dealer banks Madam / Sir, Master Circular on Acquisition and Transfer of Immovable Property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin Acquisition and transfer of immovable property in India by NRIs / PIOs / Foreign Nationals of Non-Indian Origin is… Read More

Master Circular on Memorandum of Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro Accounts of Non-resident Exchange Houses

RBI/2012-13/3 Master Circular No. 3/2012-13 July 02, 2012 To, All Authorised Dealer Category-I Banks Madam / Sir, Master Circular on Memorandum of Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro Accounts of Non-resident Exchange Houses This Master Circular consolidates the existing instructions on the subject of Memorandum of Instructions for Opening and Maintenance… Read More

Master Circular on Establishment of Liaison / Branch / Project Offices in India by Foreign Entities

RBI/2012-13/7 Master Circular No. 7/2012-13 July 02, 2012 To, All Category - I Authorised Dealer banks Madam / Sir, Master Circular on Establishment of Liaison / Branch / Project Offices in India by Foreign Entities Establishment of Branch/Liaison/Project Offices in India is regulated in terms of Section 6(6) of Foreign Exchange Management Act, 1999 read… Read More

Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals

RBI/2012-13/8 Master Circular No.8/2012-13 July 02, 2012 To, All Authorised Dealer Category I banks and Authorised banks Madam / Sir, Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals Remittance facilities for Non-Residents /Persons of Indian Origin /Foreign Nationals are being governed by sub-section (1) and (2) of… Read More

Master Circular on External Commercial Borrowings and Trade Credits

RBI/2012-13/12 Master Circular No. 12/2012-13 July 02, 2012 To, All Category I Authorised Dealer Banks Madam / Sir, Master Circular on External Commercial Borrowings and Trade Credits External Commercial Borrowings and Trade Credits availed of by residents are governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange Management Act, 1999… Read More

Master Circular on Export of Goods and Services

RBI/2012-13/14 Master Circular No. 14/2012-13 July 02, 2012 To, All Category I Authorised Dealer Banks Madam / Sir, Master Circular on Export of Goods and Services Export of Goods and Services from India is allowed in terms of clause (a) of sub-section (1) and sub-section (3) of Section 7 of the Foreign Exchange Management Act… Read More

Master Circular on Foreign Investment in India

RBI/2012-13/15 Master Circular No. 15/2012-13 July 02, 2012 To, All Category - I Authorised Dealer banks Madam / Sir, Master Circular on Foreign Investment in India Foreign investment in India is governed by sub-section (3) of Section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 20/2000-RB dated May 3, 2000,… Read More

Master Circular on Direct Investment by Residents in Joint Venture (JV)/Wholly Owned Subsidiary (WOS) Abroad

RBI/2012-13/11 Master Circular No. 11/2012-13 July 02, 2012 To, All Banks Authorised to Deal in Foreign Exchange Madam / Sir, Master Circular on Direct Investment by Residents in Joint Venture (JV)/ Wholly Owned Subsidiary (WOS) Abroad Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS) abroad are being allowed, in terms… Read More