FEMA - Corporate Law Reporter

Cross Border Inward Remittance under Money Transfer Service Scheme

RBI/2012-13/485 A.P. (DIR Series) Circular No. 102 May 2, 2013 To, All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme. Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme Please refer to our A.P.(DIR Series) Circular No. 71 dated… Read More

Money changing activities – Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards

RBI/2012-13/484 A.P. (DIR Series) Circular No. 101 May 2, 2013 To, All Authorised Persons Madam/ Dear Sir, Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Money changing activities Please refer to our A.P.(DIR Series) Circular No. 70 dated January 10, 2013 on risks arising from the deficiencies in AML/CFT regime of certain jurisdiction. 2.… Read More

Implementation of Section 51-A of UAPA, 1967 | Updates of the UNSCR 1267 etc

RBI/2012-13/482 DNBS (PD).CC. No 324/03.10.42/2012-13 May 2, 2013 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir/Madam, Implementation of Section 51-A of UAPA, 1967 -Updates of the UNSCR 1267 (1999) /1989 (2011) Committee's Al Qaida Sanctions List and Consolidated List Please refer to DNBS (PD).CC.No 318/03.10.42/2012-13 dated December 28, 2012. The Chairman… Read More

Monetary Policy Statement for 2013-14 Statement by Dr. D. Subbarao, Governor, Reserve Bank of India

"First of all, on behalf of the Reserve Bank, a hearty welcome to you all to this dissemination of the Monetary Policy Statement for 2013-14, which we put out a short while ago. 2. Based on an assessment of the current and prospective macroeconomic situation, we have decided to reduce the policy repo rate under… Read More

RBI Release – Monetary Policy Statement 2013-14

By Dr. D. Subbarao Governor Introduction The Annual Policy for 2013-14 is formulated in an environment of incipient signs of stabilisation in the global economy and prospects of a turnaround, albeit modest, in the domestic economy. 2. In the advanced economies (AEs), near-term risks have receded, aided by improving financial conditions and supportive macroeconomic policies. But this… Read More

RBI Release – Macroeconomic and Monetary Developments in 2012-13

The Reserve Bank of India today released the Macroeconomic and Monetary Developments in 2012-13. The document serves as a backdrop to the Monetary Policy Statement 2013-14 to be announced on May 3, 2013. Highlights: Overall Outlook Macro-financial risks require cautious monetary policy stance ahead In view of macro-financial risks that stay significant, headline inflation remaining… Read More

Mizoram Plan for 2013-14 Finalized

The Annual Plan for the year 2013-14 for the state of Mizoram was finalised here today at a meeting between Deputy Chairman, Planning Commission, Mr. Montek Singh Ahluwalia and Chief Minister of Mizoram, Shri Pu Lalthanhawla. The plan size has been agreed at Rs.2500 crore. In his comments on the plan performance, Mr. Montek Singh… Read More

Regulation for Financial Consumer Protection: Present Status and Future Directions

(Opening Remarks by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the Conference of Principal Code Compliance Officers 2013, organized by the BCSBI at the College of Agricultural Banking, Pune on April 29, 2013) Shri A.C. Mahajan, Chairman, BCSBI; Shri C.K Krishnan and Shri M. M. Chitale, Members of BCSBI Governing Council;… Read More

FDI In Power Sector

As per information available with Central Electricity Authority, details of private sector investment from 2009-10 to 2012-13 is as under: Thermal Power Plant (Rs. in crores) Private Investment 2009-10 2010-11 (P) 2011-12 (P) 2012-13 (P) Thermal projects 36764 70028 90551 52511 Hydro projects 5517 5855 3436 1622 Transmission 2965 3602 2294 - Distribution 2815 2103… Read More

FDI in Food Processing Industries

Inflow of Foreign Direct Investment to the food processing industries sector for the last 3 years including 2012-13 (April to February) is as follows: Sl. No. Year (Apr-Mar) FDI (Rs.Crore) FDI (US$ million) 1 2010-11 5,796.22 1,271.77 2 2011-12 7,677.74 1,652.38 3 2012-13(Apr to Feb) 2887.03 529.09 Foreign Direct Investment (FDI) complements and supplements domestic investment. FDI… Read More

Annual Plan 2013-14 for Arunachal Pradesh finalised

Arunachal Pradesh The Annual Plan for the year 2013-14 for the state of Arunachal Pradesh was finalised here today at a meeting between Deputy Chairman, Planning Commission, Mr.Montek Singh Ahluwalia and Chief Minister of Arunachal Pradesh, Sh. NabamTuki. The plan size has been agreed at Rs.3,700crore. In his comments on the plan performance of the… Read More

Auction of Government of India Dated Securities

Ref.No.IDMD /3001/08.02.032/2012-13 April 29, 2013 All Scheduled Commercial Banks All State Co-operative Banks/All Scheduled Primary (Urban) Co-operative Banks /All Financial Institutions/ All Primary Dealers. Dear Sirs, Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) (a) 7.83 percent Government Stock 2018 for a notified amount of Rs.3,000 crore (nominal)… Read More

CLR Snippets | RBI releases Data on ECB / FCCB for March 2013

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB) and Foreign Currency Convertible Bonds (FCCB), both through Automatic Route and Approval Route, for the month of March 2013. Ajit Prasad Assistant General Manager Press Release : 2012-2013/1797 Read More