FEMA - Corporate Law Reporter

Mergers of Public sector Banks.

Mergers of Public sector Banks and its implications Introduction Banks are the nerve centers of trade, commerce and business in a country. Banking plays a very important part in the economic development of all the nations of the world. Industrial revolution that took place in the 18th and 19th centuries would not have taken place… Read More

Report of the Committee to Review Governance of Boards of Banks in India released

The Reserve Bank of India has placed on its website, the Report of the Committee to Review Governance of Boards of Banks in India (Chairman: Dr. P.J.Nayak). The comments, if any, on the recommendations of the Report, may be emailed or sent by post to the Chief General Manager, Reserve Bank of India, Department of… Read More

RBI warns about Fake Website in its Name

It has come to the notice of the Reserve Bank of India today that a fake website has been created at http://www.rbi-inonline.org/savings.html by some unknown persons offering various banking facilities and asking members of public to apply on-line for opening RBI Savings Account. The Reserve Bank clarifies that as India's central bank, the Reserve Bank… Read More

Foreign Direct Investment (FDI) in India Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures

RBI/2013-14/577 A.P. (DIR Series) Circular No.127 May 2, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, Foreign Direct Investment (FDI) in India Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures Attention of Authorised Dealer Category I (AD Category I) banks is invited to… Read More

RBI simplifies Documentation for NBFC Registration

The Reserve Bank of India has simplified the documentation for Non-Banking Financial Companies (NBFCs). Now, there will be a common application form for NBFCs, Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs), NBFC-Factors and Infrastructure Development Finance- Non-Banking Financial Companies (IDF-NBFCs). The application form for Core Investment Companies (CICs) has been redesigned and there are two checklists… Read More

External Commercial Borrowings (ECB) from Foreign Equity Holder – Simplification of Procedure

RBI/2013-14/594 A.P. (DIR Series) Circular No.130 May 16, 2014 To All Category I Authorised Dealer Banks Madam/Sir, External Commercial Borrowings (ECB) from Foreign Equity Holder - Simplification of Procedure Attention of Authorised Dealer Category I (AD Category I) banks is invited to the A.P. (DIR Series) Circular No. 05 dated August 01, 2005 as amended from time… Read More

External Commercial Borrowings (ECB) Policy – Refinance / Repayment of Rupee loans raised from domestic banking system

RBI/2013-14/585 A.P. (DIR Series) Circular No.129 May 9, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, External Commercial Borrowings (ECB) Policy - Refinance / Repayment of Rupee loans raised from domestic banking system Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 28 dated January 25, 2010, A.P.… Read More

External Commercial Borrowings (ECB) Policy: Re-schedulement of ECB – Simplification of procedure

RBI/2013-14/584 A.P. (DIR Series) Circular No. 128 May 9, 2014 To All Category I Authorised Dealer Banks Madam/ Sir, External Commercial Borrowings (ECB) Policy: Re-schedulement of ECB - Simplification of procedure Attention of Authorised Dealer Category I (AD Category I) banks is invited to the instructions contained in A.P. (DIR Series) Circular No.33 dated February… Read More

Minutes of the Meeting of the Technical Advisory Committee on Monetary Policy

The thirty sixth meeting of the Technical Advisory Committee (TAC) on monetary policy was held on March 26, 2014 in the run up to the First Bi-monthly Monetary Policy Review of 2014-15 on April 1, 2014.The main points of discussion in the meeting are set out below. 1. Most of the Members were of the… Read More

RBI releases Final Report on Enabling PKI in Payment System Applications

The Reserve Bank of India has released, on its website, the final Report of the Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications. It had released the draft report for public comment on February-March 2014. Cognisant of the fact that non-PKI enabled payment systems, such as, clearing (Magnetic Ink Character Recognition… Read More

Uniform Accounting Standards at ARCs

RBI/2013-14/571 DNBS (PD) CC. No. 38/SCRC/26.03.001/2013-14 April 23, 2014 The Chairman/Managing Director/Chief Executive Officer All registered Securitisation Companies/Reconstruction Companies Dear Sir, Uniform Accounting Standards at ARCs Please refer to "The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003" dated April 23, 2003 (herein after called Guidelines). 2. Pursuant to the recommendations of… Read More

Foreign Direct Investment in Pharmaceuticals sector clarification

RBI/2013-14/567 A.P. (DIR Series) Circular No.124 April 21, 2014 To All Category I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment in Pharmaceuticals sector clarification Attention of Authorised Dealers Category I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No.56 dated December 9, 2011 and the Foreign Exchange Management (Transfer… Read More

Regulating Capital Account

Regulating Capital Account: Some Thoughts - Inaugural address delivered by Shri Harun R Khan, Deputy Governor, Reserve Bank of India delivered at the 9th Annual Conference of FEDAI in Cape Town on April 12, 2014 1. It gives me great pleasure to be with you in this beautiful city of Cape Town for the 9th… Read More