FEMA - Corporate Law Reporter

External Commercial Borrowings Simplification of procedure

RBI/2011-12/366 A.P. (DIR Series) Circular No.69 To All Authorised Dealer Category- I Banks Madam / Sir, External Commercial Borrowings Simplification of procedure 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 dated May 3, 2000 and the A.P.… Read More

External Commercial Borrowings (ECB) Policy Infrastructure Finance Companies (IFCs)

RBI/2011-12/367 A.P. (DIR Series) Circular No.70 To All Authorised Dealer Category- I Banks Madam / Sir, External Commercial Borrowings (ECB) Policy Infrastructure Finance Companies (IFCs) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 5 dated August 1, 2005, amended from time to time and A. P. (DIR Series) Circular… Read More

Deregulation of Savings Bank Deposit Interest Rate – Guidelines

RBI/2011-12/368 DBOD.Dir.BC. 75/13.03.00/2011-12 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam, Deregulation of Savings Bank Deposit Interest Rate - Guidelines Please refer to our circular DBOD.Dir.BC. 42 /13.03.00/2011-12 dated October 25, 2011. 2. Based on the references received from banks, we clarify that the revised guidelines issued vide our circular referred to above would be applicable… Read More

UCBs CRR reduced

RBI/2011-12/369 UBD.BPD. (PCB). CIR.No. 2 /12.03.000/2011-12 The Chief Executive Officers of All Scheduled Primary (Urban) Co-operative Banks Dear Sir, Section 42(1) of Reserve Bank of India Act, 1934 Maintenance of Cash Reserve Ratio (CRR) Please refer to our Circular UBD (PCB).No.3/12.03.000/2009-10 dated April 21, 2010 on the captioned subject. 2. The Reserve Bank in its Third Quarter Review… Read More

RBI – CRR Reduced by 50 basis points

RBI/2011-12/363 Ref: DBOD.No.Ret.BC.74 /12.01.001/2011-12 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Section 42(1) of the Reserve Bank of India Act, 1934 - Maintenance of CRR Please refer to our Circular DBOD.No.Ret.BC.90/12.01.001/2009-10 dated April 20, 2010 on the captioned subject. 2. The Reserve Bank in its Third Quarter Review of Monetary Policy 2011-12 issued on January… Read More

Need for Appropriate Policy Instruments to Address Areas of Concern in the Economy

The Union Finance Minister Shri Pranab Mukherjee has said that on account of the global impact, the Indian economy was facing areas of concern and to address them appropriate policy instruments were required. The Finance Minister Shri Mukherjee was addressing the First meeting of the Consultative Committee attached to his Ministry here yesterday during the… Read More

Master Circular on External Commercial Borrowings and Trade Credits

RBI/2011-12/356 Master Circular No. 09 /2011-12 (Updated as on January 20, 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… Read More

Clarification on regulation of interest rates for Small Savings Schemes

RBI/2011-12/359 DGBA.CDD. No.H- 4836 /15.02.001/2011-12 The Chairman and Managing Director/Managing Director Head Office, Government Accounts Department State Bank of India/State Bank of Patiala/ State Bank of Bikaner & Jaipur/State Bank of Travancore/ State Bank of Hyderabad/ State Bank of Mysore/ Andhra Bank/ Allahabad Bank/Bank of Baroda/Bank of India/ Bank of Maharashtra/Canara Bank/Central Bank of India/… Read More

Master Circular on Compounding of Contraventions under FEMA, 1999

RBI/2011-12/357 Master Circular No.8 /2011-12 (Updated as on January 20, 2012) July 01, 2011 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… Read More

Risk Management and Inter-Bank Dealings – Commodity Hedging

RBI/2011-12/353 A. P. (DIR Series) Circular No.68 To All Category-I Authorised Dealer Banks Madam / Sir, Risk Management and Inter-Bank Dealings - Commodity Hedging Attention of Authorised Dealers Category I (AD Category I) banks is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 3, 2000 [Notification No. FEMA 25/RB-2000… Read More

Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) – Standards

RBI/2011-12/351 RPCD.CO.RRB.AML.No.7081/03.05.28(A)/2011-12 The Chairmen All Regional Rural Banks (RRBs) Dear Sir, Anti-Money Laundering (AML) / Combating of Financing of Terrorism (CFT) - Standards Please refer to our circular RPCD.CO.RRB.AML.No.1203 /03.05.28 (A)/2011-12 dated July 29, 2011 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2. Financial Action Task Force (FATF) has updated its Statement… Read More

Foreign investment in Single Brand Retail Trading Amendment to the Foreign Direct Investment (FDI) Scheme

RBI/2011-12/348 A. P. (DIR Series) Circular No. 67 To All Category-I Authorised Dealer Banks Madam / Sir, Foreign investment in Single Brand Retail Trading Amendment to the Foreign Direct Investment (FDI) Scheme Attention of Authorised Dealers Category I (AD Category - I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security… Read More

(I) Scheme for Investment by Qualified Foreign Investors in equity shares (II) Scheme for Investment by Qualified Foreign Investors in Rupee Denominated Units of Domestic Mutual Funds Revision

RBI/2011-12/347 A. P. (DIR Series) Circular No.66 To All Category I Authorised Dealer banks Madam / Sir, (I) Scheme for Investment by Qualified Foreign Investors in equity shares (II) Scheme for Investment by Qualified Foreign Investors in Rupee Denominated Units of Domestic Mutual Funds Revision Attention of Authorised Dealers Category I (AD Category - I) banks… Read More