FEMA - Corporate Law Reporter

RBI introduces Cross Currency Futures and Exchange Traded Cross Currency Option Contracts

The Reserve Bank of India has issued guidelines for introduction of cross currency futures and exchange traded cross currency option contracts in the currency pairs of Euro (EUR)-US Dollar (USD), Pound Sterling (GBP)-USD and USD- Japanese Yen (JPY). Further, exchange traded option contracts in the currency pairs of EUR-Indian Rupee (INR), GBP-INR and JPY-INR have… Read More

RBI Intervention in Exchange Traded Currency Derivatives (ETCD)

The Reserve Bank of India intervenes in the domestic foreign exchange market as and when required in order to manage excessive volatility and to maintain orderly conditions in the market. As a further measure it has been decided to intervene in the Exchange Traded Currency Derivatives (ETCD) segment, if required. The data for the ETCD… Read More

Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit

RBI/2015-16/259 DBR.Dir.BC.No.62/04.02.001/2015-16 December 4, 2015 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit The Government of India has announced the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit to eligible exporters. The scheme is effective from April 1, 2015. The details… Read More

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

RBI/2015-16/258 DBR. AML. No. 7312/14.01.001/2015-16 December 3, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons… Read More

Regional Rural Banks – Priority Sector Lending – Targets and Classification

RBI/2015-16/257 FIDD.CO.Plan.BC.No.14/04.09.01/2015-16 December 3, 2015 The Chairman All Regional Rural Banks Dear Sir/Madam, Regional Rural Banks - Priority Sector Lending – Targets and Classification During the last decade, Regional Rural Banks (RRBs) have undergone significant structural and operational changes, be it two-phased amalgamation, implementation of CBS platform or recapitalization, inter alia. Considering the growing significance… Read More

Finances of Foreign Direct Investment Companies, 2013-14: Data Release

The Reserve Bank of India released on its website the data related to ‘Finances of Foreign Direct Investment (FDI) Companies, 2013-14’. The data have been compiled based on audited annual accounts of 957 select non-government non-financial (NGNF) foreign direct investment companies which closed their accounts during the period April 2013 to March 2014. The data draw a… Read More

External Commercial Borrowings (ECB) Policy – Revised framework

RBI/2015-16/255 A.P. (DIR Series) Circular No.32 November 30, 2015 To, All Authorised Dealer Category – I Banks Madam/ Sir External Commercial Borrowings (ECB) Policy – Revised framework Attention of Authorised Dealer Category – I (AD Cat I) banks is invited to A.P. (DIR Series) Circular No. 5 dated August 1, 2005 containing the basic framework under which… Read More

Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks

CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. DBR.IBD.BC. 61/23.07.001/2015-16 dated November 26, 2015 for Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks. RBI/2015-16/252 DBR.IBD.BC. 61/23.07.001/2015-16 November 26, 2015 All Foreign Banks operating in India Dear Sir/Madam, Engagement of Services of Expatriate Officers in Indian Offices of Foreign Banks Please… Read More

Central KYC Records Registry (CKYCR) – template for Know Your Customer (KYC) and reporting requirements under Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standards (CRS)

CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. DBR.AML.BC.No.60/14.01.001/2015-16 dated November 26, 2015 for Central KYC Records Registry (CKYCR) - template for Know Your Customer (KYC) and reporting requirements under Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standards (CRS) RBI/2015-16/251 DBR.AML.BC.No.60/14.01.001/2015-16 November 26, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/… Read More

Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs)

CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. RBI/2015-16/250 dated November 26, 2015 for Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) Directions DNBS.PD.No. 234/CGM (US)-2011 dated December 2, 2011 and DNBR.CC.PD.No. 027/03.10.01/2014-15 dated April 08, 2015 Revision of the loan amount with tenure not less than 24 RBI/2015-16/250 DNBR.CC.PD.No. 071/03.10.038/2015-16 November 26, 2015 To… Read More

Bank Finance to Factoring Companies

CLR Note: The Reserve Bank of India(RBI) has issued a notification with reference no. DBR.BP.BC.No.55/21.04.172/2015-16 dated November 26, 2015 for Bank Finance to Factoring Companies. RBI/2015-16/247 DBR.BP.BC.No.55/21.04.172/2015-16 November 26, 2015 All Scheduled Commercial Banks (Excluding RRBs) Madam/Dear Sir, Bank Finance to Factoring Companies Please refer to our circular DBOD.BP.BC.No.40/21.04.172/2012-13 dated September 11, 2012 on Bank Finance to Factoring Companies, in terms… Read More

Online Returns to be submitted by NBFCs- Revised

CLR Note: The Reserve Bank of India (RBI) has issued a notification with reference no. RBI/2014-15/246 dated November 26, 2015 for Online Returns to be submitted by NBFCs- Revised RBI/2014-15/246 DNBS (PD).CC.No.03/03.02.02/2015-16 November 26, 2015 All Non Banking Financial Companies Dear Sir, Online Returns to be submitted by NBFCs- Revised Please refer to our Master Circular no DNBS.IT.CC.No.01/24.01.191/2015-16 dated July… Read More

RBI Notification – Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds

CLR Note: The Reserve Bank of India (RBI) has issued a notification with reference no. RBI/2015-16/253 dated November 26, 2015 for Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds. RBI/2015-16/253 A.P. (DIR Series) Circular No.31 November 26, 2015 To All Authorised Persons Madam/ Sir, Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds Attention of Authorized Dealer Category-I… Read More