FEMA - Corporate Law Reporter

External Commercial Borrowings (ECB) Repayment of Rupee loans

RBI/2011-12/617 A. P. (DIR Series) Circular No. 134 June 25, 2012 To All Category-I Authorised Dealer Banks Madam / Sir, External Commercial Borrowings (ECB) Repayment of Rupee loans 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… Read More

Foreign investment in India by SEBI registered FIIs in Government securities and SEBI registered FIIs and QFIs in infrastructure debt

RBI/2011-12/618 A. P. (DIR Series) Circular No. 135 June 25 , 2012 To All Category I Authorized Dealer banks Madam / Sir, Foreign investment in India by SEBI registered FIIs in Government securities and SEBI registered FIIs and QFIs in infrastructure debt Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5… Read More

RBI-Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives

RBI/2011-12/616 FMD.MSRG.No.69/02.05.002/2011-12 June 22, 2012 All Category I Authorised Dealer Banks and Primary Dealers Madam/Sir, Reporting Platform for OTC Foreign Exchange and Interest Rate Derivatives Reserve Bank, vide it™s circular No.FMD.MSRG.No.67/02.05.002/2011-12 dated March 9, 2012, had advised that all inter-bank OTC foreign exchange derivatives transactions should be reported on a platform to be developed by the… Read More

Secondary market transactions in Government Securities – Short Selling

RBI/2011-12/615 IDMD.PCD.21/14.03.07/2011-12 June 21, 2012 All market participants Dear Sir/Madam Secondary market transactions in Government Securities - Short Selling This has reference to circular IDMD.PCD.14/14.03.07/2011-12 dated December 28, 2011 on the captioned subject. 2. As per extant guidelines, banks are permitted to undertake 'notional' short sale whereby they can sell a security short from HFT portfolio even… Read More

RBI-White Label ATMs (WLAs) in India – Guidelines

RBI/2011-12/612 DPSS.CO.PD. No. 2298/02.10.002/2011-2012 June 20, 2012 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks Authorised ATM Network Operators / Card Payment Network Operators Prospective White Label ATM Operators. Dear Sir, White Label ATMs (WLAs) in… Read More

Annual return on Foreign Liabilities and Assets Reporting by Indian Companies Revised format

RBI/2011-12/613 A.P. (DIR Series) Circular No.133 June 20, 2012 To All Category - I Authorised Dealer Banks Madam / Sir, Annual return on Foreign Liabilities and Assets Reporting by Indian Companies Revised format Attention of the Authorised Dealer (AD) Category I banks is invited to A. P. (DIR Series) Circular No.45 dated March 15, 2011wherein, it… Read More

RBI-Rupee Export Credit Interest Rates

RBI/2011-12/608 DBOD.Dir.(Exp).BC.No.112/04.02.001/2011-12 June 19, 2012 All Scheduled Commercial Banks (excluding RRBs) Dear Sir / Madam, Rupee Export Credit Interest Rates Please refer to our circular DBOD.Dir.(Exp).BC.No.38/04.02.001/2011-12 dated October 11, 2011 extending the scheme of interest subvention of 2% from April 1, 2011 to March 31, 2012 on pre and post shipment rupee export credit for certain employment… Read More

RBI-Export Credit Refinance Facility (ECR): Relaxation

RBI/2011-12/603 Ref. MPD. No. 355/07.01.279/2011-12 Jyestha 28,1934 (Saka) To All Scheduled Banks [excluding Regional Rural Banks (RRBs)] Dear Sir/Madam, Export Credit Refinance Facility (ECR): Relaxation At present, the Export Credit Refinance (ECR) limit is fixed at 15 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second… Read More

RBI-Home Loans-Levy of Fore-closure Charges / Pre-payment Penalty

RBI/2011-12/604 RPCD CO. RRB. BC.No.85/03.05.033/2011-12 All Regional Rural Banks Dear Sir Home Loans-Levy of Fore-closure Charges / Pre-payment Penalty Attention is invited to paragraphs 81 to 83 of the Monetary Policy Statement 2012-13 announced on April 17, 2012 with regard to home loans on floating interest rates. The Committee on Customer Service in Banks (Chairman: M. Damodaran)… Read More

Home Loans-Levy of fore-closure charges/ pre-payment penalty

RBI/2011-12/602 RPCD CO. RCBD. BC. No. 84 /03.03.01/2011-12 June 15, 2012 The Chairmen/Chief Executives of All State and Central Co-operative Banks Dear Sir Home Loans-Levy of fore-closure charges/ pre-payment penalty Please refer to our circular RPCD.CO.RCBD.BC.No. 48 /03.03.01/2010-11 dated January 20, 2011 on housing finance. 2. In this context, attention is invited to paragraphs 81… Read More

RBI-Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India- Amendments

RBI/2011-12/601 DPSS.CO.PD. No. 2256 /02.14.006/ 2011-12 June 14, 2012 To All System Providers, System Participants and all other prospective prepaid payment instrument issuers Dear Sir, Policy Guidelines for issuance and operation of Prepaid Payment Instruments in India- Amendments A reference is invited to our circulars RBI / 2008-09 / 458 DPSS. CO. PD. No. 1873/02.14.06/2008-09 dated… Read More

RBI-Money Transfer Service Scheme

RBI/2011-12/596 A. P. (DIR Series) Circular No. 132 To, All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme. Madam/ Sir, Money Transfer Service Scheme Attention of all Authorised Persons (APs), who are Indian Agents under the Money Transfer Service Scheme (MTSS) is invited toparagraph 5 (c) of the the Notification dated June… Read More

RBI-Financial Literacy Centres (FLCs) Guidelines

RBI/2011-12/590 RPCD.FLC.No.12452 /12.01.018/2011-12 To Chairman/CMD of Scheduled Commercial Banks (including RRBs) Dear Sir Financial Literacy Centres (FLCs) Guidelines Please refer to our circular RPCD.CO.MFFI.BC.No.86/12.01.18/2008-09 dated February 4, 2009 on Model Scheme for setting up Financial Literacy and Credit Counselling Centres (FLCC). 2. Since the Model Scheme has been in operation for quite some time, it was decided… Read More