FEMA - Corporate Law Reporter

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Ninth Amendment) Regulations, 2015

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 6th October, 2015 No. FEMA. 353 /2015-RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Ninth Amendment) Regulations, 2015 G.S.R. 759 (E).”In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and… Read More

Risk Weights for Claims on Foreign Central Banks

RBI/2015-16/202 DBR.BP.BC.No.43/21.06.001/2015-16 October 8, 2015 All Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Dear Sir, Risk Weights for Claims on Foreign Central Banks Please refer to paragraph 5.3 of the Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on Basel III Capital Regulations prescribing risk weights for claims on Foreign Sovereigns. 2. The matter of… Read More

RBI rationalizes LTV ratios and risk weights for individual housing loans

CLR Note: The Reserve Bank of India has issued a circular no.44/08.12.015/2015-16 dated 8th October, 2015 where it has been decided to fix the Loan to Value (LTV) ratios and risk weights for individual housing loans.Please read below the full details of the slabs and their risk weights along with the LTV ratios. RBI/2015-16/200 DBR.BP.BC.No.… Read More

Risk Management & Inter-Bank Dealings: Booking of Forward Contracts – Liberalisation

CLR Note: The Reserve Bank of India has issued a circular no. RBI/2015-16/201 dated 8th October, 2015 which clarifies Risk Management & Inter-Bank Dealings: Booking of Forward Contracts - Liberalisation RBI/2015-16/201 A. P. (DIR Series) Circular No. 20 October 8, 2015 To, All Authorised Dealer Category - I banks Madam / Sir, Risk Management & Inter-Bank Dealings: Booking of Forward… Read More

Investment by Foreign Portfolio Investors (FPI) in Government Securities

RBI/2015-16/198 A.P. (DIR Series) Circular No 19 October 6, 2015 To, All Authorised Persons Madam/ Sir, Investment by Foreign Portfolio Investors (FPI) in Government Securities Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations,… Read More

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

RBI/2015-16/196 DNBR.CC.PD.No. 069/03.10.01/ 2015-16 October 01, 2015 To All NBFC-MFIs Madam/ Sir Non Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) Directions Modifications In terms of extant instructions on pricing of credit by MFIs, the maximum variance between the minimum and maximum interest rate on loans cannot exceed 4 per cent. 2. The National Scheduled Castes Finance… Read More

Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999

RBI/2015-16/195 A.P. (DIR Series) Circular No.18 September 30, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999 The Government of India has enacted The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax… Read More

External Commercial Borrowings (ECB) Policy – Issuance of Rupee denominated bonds overseas

RBI/2015-16/193 A.P. (DIR Series) Circular No.17 September 29, 2015 To, All Authorised Dealer Category I Banks Madam/ Sir External Commercial Borrowings (ECB) Policy - Issuance of Rupee denominated bonds overseas Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the provisions contained in A.P. (DIR Series) Circular No. 5 dated… Read More

Guidelines on Compensation of Chief Executive Officer/ Whole Time Directors Restrictions under Section 20 of the Banking Regulation Act, 1949 Loans to Directors

RBI/2015-16/178 DBR.Dir.BC.No.38/13.03.00/2015-16 September 16, 2015 All Commercial Banks Dear Sir/Madam Guidelines on Compensation of Chief Executive Officer/ Whole Time Directors Restrictions under Section 20 of the Banking Regulation Act, 1949 Loans to Directors Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) prohibits banks from granting any loan or advance to any of its… Read More

Guidelines for Grant of Authorisation for Additional Branches of FFMC/AD Cat. II

RBI/2015-16/174 A.P. (DIR Series) Circular No.12 September 10, 2015 To All Authorised Persons Madam/Sir, Guidelines for Grant of Authorisation for Additional Branches of FFMC/AD Cat. II Attention of FFMC/AD Cat. II licence holders is invited to paragraph (B) of Annex- I to A.P. (DIR Series) Circular No. 57 dated March 9, 2009 on Memorandum of Instructions governing… Read More

Exchange Earners™ Foreign Currency (EEFC) Account-Discontinuation of Statement pertaining to trade related loans and advances

RBI/2015-16/173 A.P. (DIR Series) Circular No.11 September 10, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Exchange Earners™ Foreign Currency (EEFC) Account- Discontinuation of Statement pertaining to trade related loans and advances Attention of Authorized Dealers Category I (AD Category I) banks is invited to A.P. (DIR Series) Circular No.78 dated February… Read More

Implementation of Section 51-A of Unlawful Activities Prevention Act (UAPA), 1967- 21st Update dated September 3, 2015 of Al-Qaida Sanctions List

RBI/2015-16/171 DBR.AML.No.3441/14.06.001/2015-16 September 7, 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 including those who… Read More

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

RBI/2015-16/169 A.P. (DIR Series) Circular No.10 September 03, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 105 dated… Read More