FEMA - Corporate Law Reporter

Sources of Variation in Foreign Exchange Reserves in India during 2012-13

Earlier today, the Reserve Bank of India released the Balance of Payments (BoP) data for 2012-13 on its website (www.rbi.org.in). On the basis of these data, the sources of variation in foreign exchange reserves during 2012-13 have been compiled. Sources of Variation in Foreign Exchange Reserves: 2012-13 During 2012-13, there was a decline in the… Read More

India™s External Debt end-March 2013

As per the standard practice, India's external debt statistics for the quarters ending March and June are released by the Reserve Bank of India and those for the quarters ending September and December by the Ministry of Finance, Government of India. The external debt data are released with a lag of one quarter. The external debt… Read More

India™s International Investment Position (IIP), March 2013

International Investment Position (IIP) is a statistical statement that shows, at a point in time, the value and the composition of (a) financial assets of residents of an economy that are claims on non-residents and gold bullion held as reserve assets; and (b) liabilities of residents of an economy to non-residents. The difference between an… Read More

RBI releases Financial Stability Report: June 2013

The latest issue of the Financial Stability Report (FSR) of the Reserve Bank of India, the seventh in the series, is being released at a time when debate about the appropriateness, timing and pace of imminent exit from unconventional monetary policies by the US is intensifying and the consequent tremors are being felt in financial markets across the… Read More

RBI Notification on Risk Management and Inter Bank Dealings

RBI//2012-13/554 A.P. (DIR Series) Circular No.121 June 26, 2013 To All Authorised Dealer Category - I Banks Madam / Sir, Risk Management and Inter Bank Dealings Attention of Authorized Dealers Category I (AD Category - I) banks is invited to section C of the Annex to A.P.(DIR Series) Circular No. 32 dated December 28, 2010 on… Read More

RBI includes Import of Services, Technical know-how and License Fees within the ECB Policy

RBI/2012-13/552 A.P. (DIR Series) Circular No.119 June 26, 2013 To All Authorised Dealer Category - I Banks Madam / Sir, External Commercial Borrowings (ECB) Policy Import of Services, Technical know-how and License Fees Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations,… Read More

Settlement of OTC transactions in Certificates of Deposit (CDs) and Commercial Papers (CPs)

RBI/2012-13/551 IDMD.PCD. 12/14.03.02/2012-13 June 26, 2013 To All Market Participants Dear Sir/Madam, Settlement of OTC transactions in Certificates of Deposit (CDs) and Commercial Papers (CPs) Please refer to our Notification IDMD.PCD.No.20/14.01.02/2011-12 dated March 05, 2012 on the captioned subject. 2. The above directions have been reviewed and it has been decided that MCX-SX Clearing Corporation Limited is… Read More

RBI Guidelines on Securities Transactions to be followed by Primary Dealers

RBI/2012-13/549 IDMD.PCD.13/14.03.07/2012-13 June 26, 2013 To All Market Participants Dear Sir/Madam, Guidelines on Securities Transactions to be followed by Primary Dealers Please refer to our Notifications IDMC.PDRS.PDS.No.2/03.64.00/2000-01 dated November 13, 2000 and IDMC. No. PDRS/2049A/03.64.00/99-2000 dated December 31, 1999 on the captioned subject. 2. The above directions have been reviewed and it has been decided that Primary Dealers are… Read More

Settlement of OTC transactions in Corporate Bonds on DvP-I basis

RBI/2012-13/550 IDMD.PCD. 11 /14.03.06/2012-13 June 26, 2013 To All Market Participants Dear Sir/Madam, Settlement of OTC transactions in Corporate Bonds on DvP-I basis Please refer to our Notification IDMD. No.1764/11.08.38/2009-10 dated October 16, 2009 on the captioned subject. 2. The above directions have been reviewed and it has been decided that MCX-SX Clearing Corporation Limited is also… Read More

RBI Notification on Project and Services Export

RBI/2012-13/548 A.P. (DIR Series) Circular No.118 June 26, 2013 To All Authorised Dealer Category - I Banks Madam / Sir, Export of Goods and Services Project Exports Attention of Authorized Dealers is invited to Para B.7 (i) and C.5 (i) of Memorandum of Instructions on Project and Service Exports (PEM), enclosed to A.P.(DIR Series) Circular No.32… Read More

Business Continuity Planning (BCP), Vulnerability Assessment and Penetration Tests (VAPT) and Information Security

RBI/2012-13/547 DIT.CO(Policy)No. 2636/09.63.025/2012-13 June 26, 2013 The Chairmen/Chief Executive Officers, All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Business Continuity Planning (BCP), Vulnerability Assessment and Penetration Tests (VAPT) and Information Security Please refer paragraph 102 of the Monetary Policy Statement 2013-14 wherein we have emphasised the importance of securing the Information Systems (IS) of banks. In order… Read More

External Commercial Borrowings (ECB) in Renminbi (RMB)

RBI/2012-13/546 A.P. (DIR Series) Circular No. 117 June 25, 2013 To, All Authorized Dealer Category - I Banks Madam / Sir External Commercial Borrowings (ECB) in Renminbi (RMB) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 30 dated September 27, 2011 on the captioned subject in terms of which… Read More

External Commercial Borrowings (ECB) for Civil Aviation Sector

RBI/2012-13/545 A.P. (DIR Series) Circular No. 116 June 25, 2013 To, All Authorized Dealer Category - I Banks Madam / Sir External Commercial Borrowings (ECB) for Civil Aviation Sector Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the A.P. (DIR Series) Circular No. 113 dated April 24, 2012 on the captioned subject. 2. In… Read More