FEMA - Corporate Law Reporter

Master Circular on Memorandum of Instructions governing money changing activities

RBI/2012-13/10 Master Circular No.10/2012-13 July 02, 2012 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Circular on Memorandum of Instructions governing money changing activities This Master Circular consolidates the existing instructions on the subject of Memorandum of Instructions governing money changing activities at one place. The list of underlying circulars/ notifications is… Read More

Master Circular on Miscellaneous Remittances from India Facilities for Residents

RBI/2012-13/6 Master Circular No. 6/2012-13 July 2, 2012 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Circular on Miscellaneous Remittances from India Facilities for Residents Miscellaneous remittance facilities for residents are allowed in terms of section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification No. G.S.R… Read More

Master Circular on Import of Goods and Services

RBI/2012-13/13 Master Circular No.13 /2012-13 July 02, 2012 To, All Category I Authorised Dealer Banks Madam / Sir, Master Circular on Import of Goods and Services Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No.… Read More

RBI-Non-Banking Financial Companies Auditor™s Report (Reserve Bank) Directions, 2008

RBI/2012-13/22 DNBS (PD) CC No.280/03.02.001/2012-13 July 2, 2012 To The Chairman/CEOs of all Non-Banking Financial Companies (except Residuary Non-Banking Companies and Miscellaneous Non-Banking Companies) Dear Sir, Notification as amended upto June 30, 2012 Non-Banking Financial Companies Auditor™s Report (Reserve Bank) Directions, 2008. As you are aware, in order to have all current instructions on… Read More

RBI-Master Circular – Returns to be submitted by NBFCs

RBI/2012-13/32 DNBS.PD.CC.No.282/03.10.042/20121-13 July 2, 2012 To, All NBFCs (Excluding RNBCs) Dear Sirs, Master Circular - Returns to be submitted by NBFCs In order to have all current instructions in one place, the Reserve Bank of India has issued master circulars to NBFCs on various subjects. It is advised that instructions on various returns to be submitted by… Read More

RBI-Master Circular – Guidelines for Issue of Certificates of Deposit

RBI/2012-13/100 IDMD.PCD. 05/14.01.03/2012-13 July 2, 2012 The Chairmen / Chief Executives of All Scheduled Banks (excluding RRBs and LABs), Primary Dealers (PDs) and All-India Term Lending and Refinancing Institutions Dear Sir/Madam, Master Circular - Guidelines for Issue of Certificates of Deposit With a view to further widening the range of money market instruments and giving… Read More

Master Circular – Guidelines for Issue of Commercial Paper

RBI/2012-13/99 IDMD.PCD. 04/14.01.02/2012-13 July 2, 2012 The Chairmen/Chief Executives of All Scheduled Banks, Primary Dealers and All-India Financial Institutions Dear Sir/Madam, Master Circular - Guidelines for Issue of Commercial Paper Commercial Paper (CP), an unsecured money market instrument issued in the form of a promissory note, was introduced in India in 1990 with a view… Read More

RBI-Maintenance of CRR on Foreign Currency (Non-Resident) [FCNR (B)] Scheme

RBI/2011-12/628 DBOD. No. Ret.BC.113/12.01.001/2011-12 June 29, 2012 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 42 of the RBI Act, 1934 Maintenance of CRR on Foreign Currency (Non-Resident) [FCNR (B)] Scheme Please refer to our circulars DBOD No. BC.39/12.01.001/95 dated April 05, 1995 and DBOD No. BC.50/12.01.001/2000-01 dated November 07, 2000 on the captioned… Read More

Merchant Discount Rates (MDR) structure for debit card transactions

RBI/2011-12/625 DPSS.CO.PD.No.2361/02.14.003/ 2011-12 June 28, 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 The Merchant Discount… Read More

Foreign Investment in India – Sector Specific conditions

RBI/2011-12/626 A.P. (DIR Series) Circular No. 137 June 28, 2012 To All Category I Authorised Dealer banks Madam/Sir, Foreign Investment in India - Sector Specific conditions Attention of Authorised Dealer Category I (AD Category-I) banks is invited to Annex A and B of Schedule 1 to Foreign Exchange Management (Transfer or Issue of Security by a… Read More

External Commercial Borrowings (ECB) Rationalisation of Form-83

RBI/2011-12/620 A. P. (DIR Series) Circular No. 136 June 26, 2012 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Rationalisation of Form-83 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

RBI-Home Loans – Levy of Fore-closure Charges / Pre-payment Penalty by Urban Co-operative Banks (UCBs)

RBI/2011-12/622 UBD.BPD.(PCB) CIR No.41/12.05.001/2011-12 June 26, 2012 The Chief Executive Officers All Primary (Urban) Co-operative Banks Madam / Dear Sir, Home Loans - Levy of Fore-closure Charges / Pre-payment Penalty by Urban Co-operative Banks (UCBs) Please refer to our Circular UBD.(PCB).Cir.No.54/09.39.000/05-06 dated May 26, 2006 on levy / display of bank charges. 2. The attention of UCBs… Read More

New Scheme for ECB Borrowings Introduced

The policies relating to FII Investments in Government Securities, Corporate Bonds, Long-Term Infra Bonds and ECB of Indian Companies and QFI have been reviewed and the following changes have been made therein. Government Securities: a. Currently FIIs are allowed to invest US$5 billion in Government Securities that have residual maturity of over five years. It has now been modified to reduce the… Read More