FEMA - Corporate Law Reporter

Direct Benefit Transfer (DBT) Scheme – Seeding of Aadhaar in Bank Accounts – Clarification

RBI/2015-16/289 FIDD.CO.LBS.BC. No.17/02.01.001/2015-16 January 14, 2016 The Chairman and Managing Director Scheduled Commercial Banks including RRBs Dear Sir/Madam, Direct Benefit Transfer (DBT) Scheme – Seeding of Aadhaar in Bank Accounts – Clarification Please refer to circular RPCD.CO.LBS.BC.No.11/02.01.001/2013-14 dated July 9, 2013 regarding the use of Aadhaar to facilitate delivery of social welfare benefits by direct credit… Read More

Non-Fund Based Facility to Non-constituent Borrowers of Bank

RBI/2015-16/281 DBR.Dir.BC.No.70/13.03.00/2015-16 January 07, 2016 All Scheduled Commercial Banks (Excluding RRBs) Dear Sir/Madam Non-Fund Based Facility to Non-constituent Borrowers of Bank Please refer to paragraph 2(iii) of our circular DBOD.Dir.BC.62/13.07.09/2002-03 dated January 24, 2003 on ‘Discounting/Rediscounting of Bills by banks’ advising banks not to extend any non-fund based facilities to non-constituents borrowers of the banks.… Read More

Setting up of IFSC Banking Units (IBUs) – Permissible activities

RBI/2015-16/282 DBR.IBD.BC. 8536/23.13.004/2015-16 January 07, 2016 All Scheduled Commercial Banks (excluding Regional Rural Banks) Dear Sir/Madam, Setting up of IFSC Banking Units (IBUs) – Permissible activities Please refer to our circular DBR.IBD.BC.14570/23.13.004/2014-15 dated April 01, 2015 setting out RBI directions relating to financial institutions set up in the International Financial Services Centres (IFSC). Based on… Read More

Master Circular- Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs- Amendment

RBI/2015-16/283 DBR.No.FID.FIC 5/01.02.00/ 2015-16 January 07, 2016 All-India Term-Lending and Refinancing Institutions (EXIM Bank, NABARD, NHB and SIDBI) Dear Sir/ Madam Master Circular- Prudential Norms for Classification, Valuation and Operation of Investment Portfolio by FIs- Amendment Please refer to Paragraph No.2.5.3.4 (iii) of Master Circular DBR.No.FID.FIC.3/01.02.00/2015-16 dated July 01, 2015 on Prudential Norms for Classification,… Read More

Master Direction – Miscellaneous

RBI/FED/2015-16/14 FED Master Direction No. 19/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction - Miscellaneous Reserve Bank of India has issued Master Directions consolidating relevant A.P (DIR Series) Circulars issued so far within the ambit of the relevant regulations, amended up to… Read More

Master Direction – Acquisition and Transfer of Immovable Property under Foreign Exchange Management Act, 1999

RBI/FED/2015-16/7 FED Master Direction No. 12/2015-16 January 1, 2016 To, All Category - I Authorised Dealer banks and Authorised Banks Madam/ Sir Master Direction – Acquisition and Transfer of Immovable Property under Foreign Exchange Management Act, 1999 Acquisition and transfer of immovable property by Indian residents outside India and Non-residents in India is regulated in… Read More

Master Direction – Establishment of Liaison/ Branch/ Project Offices in India by foreign entities

RBI/FED/2015-16/6 FED Master Direction No.10/2015-16 January 1, 2016 To, All Category – I Authorised Dealer banks and Authorised Banks Madam / Dear Sir, Master Direction - 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… Read More

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

RBI/FED/2015-16/10 FED Master Direction No. 15/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction – 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… Read More

Make In India Policy

What is ‘Make in India’ program? The Make in India program is an initiative launched to encourage companies to increase manufacturing in India. This not only includes attracting overseas companies to set up shop in India, but also encouraging domestic companies to increase production within the country. Make in India aims at increasing the GDP… Read More

Master Direction – Money Changing Activities

RBI/FED/2015-16/17 FED Master Direction No.3/2015-16 January 1, 2016 To All Authorised Persons in Foreign Exchange Madam / Dear Sir, Master Direction - Money Changing Activities In terms of Section 10 of the Foreign Exchange Management Act, 1999, Reserve Bank authorises persons designated as Authorised Persons to deal in foreign exchange as, inter alia, an Authorised… Read More

Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin

RBI/FED/2015-16/2 FED Master Direction No. 6/2015-16 January 1, 2016 To All Authorised Dealer Category – I banks and Authorised Banks Madam/ Dear Sir, Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin Borrowing and lending transactions in Indian Rupees (INR) between persons resident… Read More

Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses

RBI/FED/2015-16/16 FED Master Direction No.2/2015-16 January 1, 2016 To All Authorised Persons in Foreign Exchange Madam / Dear Sir, Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses Rupee Drawing Arrangement (RDA) is a channel to receive cross-border remittances from overseas jurisdictions. Under this arrangement, the Authorised Category I… Read More

Master Direction- Compounding of Contraventions under FEMA, 1999

RBI/FED/2015-16/1 FED Master Direction No.4/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Sir, Master Direction- Compounding of Contraventions under FEMA, 1999 The provisions of section 15 of Foreign Exchange Management Act, 1999 (42 of 1999) hereinafter referred to as FEMA, 1999, permit compounding of contraventions and,… Read More