FEMA - Corporate Law Reporter

FM Speak @ Harvard :: “The Rise of the East: Implications for the Global Economy

Following is the Text of the Speech of the Union Finance Minister, Shri P. Chidamabarm delivered yesterday at the South Asian Institute and Mahendra Humanities Center at Harvard University: It is a great pleasure to be back in the grounds of Harvard University and a great honour to be invited to speak by institutions that are… Read More

RBI Clarification of Implementation of Section 51-A of UAPA, 1967 – updation of UNSC list on Al Qaeda

RBI/2012-13/477 DBOD.AML.No.14982/14.06.001/2012-13 April 17, 2013 The Chairmen / CEOs of all Scheduled Commercial Banks (Excluding RRBs)/ Local Area Banks / All India Financial Institutions Dear Sir, 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 our circular DBOD. AML… Read More

Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) Risk Weights and Provisioning

RBI 2012-13/ 476 DBOD.No.BP.BC-90/21.04.048/2012-13 April 16, 2013 The Chairman and Managing Director/ Chief Executive Officer of All Scheduled Commercial Banks (excluding RRBs & LABs) Dear Sir, Advances guaranteed by Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) Risk Weights and Provisioning The Ministry of Housing & Urban Poverty Alleviation, Government of India has… Read More

Perspectives on Housing Finance in India

(Remarks by Shri Deepak Mohanty, Executive Director, Reserve Bank of India, at the International Conference on Housing: An Engine for Inclusive Growth organized by the National Housing Bank at New Delhi on April 12, 2013) I thank Mr. R.V. Verma, Chairman and Managing Director, National Housing Bank (NHB) for the opportunity to be a part… Read More

DTAA protocol signed between India and Malta

An Agreement (DTAA) and Protocol Signed Between India and Malta for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income The Double Taxation Avoidance Agreement (DTAA) and the Protocol between the Republic of India and Malta for the avoidance of double taxation and for the prevention of fiscal… Read More

RBI releases its monthly Bulletin for April 2013

The Reserve Bank of India today released the April 2013 issue of its monthly Bulletin. The Bulletin includes three special articles: (i) India™s Foreign Trade: 2012-13 (April - December); (ii) North-East Monsoon 2012: An Overview (October - December) and (iii) Investment Portfolio of Scheduled Commercial Banks: March 2012. 1. India™s Foreign Trade: 2012-13 (April -… Read More

Trade Credits for Imports into India Review of all-in-cost ceiling

RBI/2012-13/475 A.P. (DIR Series) Circular No. 98 April 9, 2013 To, All Category - I Authorised Dealer Banks Madam / Sir, Trade Credits for Imports into India Review of all-in-cost ceiling Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No.28 dated September 11, 2012 and A.P. (DIR Series),… Read More

Exim Bank’s Line of Credit to the Government of the Republic of Malawi

RBI/2012-13/474 A.P. (DIR Series) Circular No.97 April 9, 2013 To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 76.50 million to the Government of the Republic of Malawi Export-Import Bank of India (Exim Bank) has concluded an Agreement dated December 13, 2012 with the Government of the… Read More

RBI publication on Deposits and Credit Statistics of SCBs

The Reserve Bank of India today released its 'Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks, June 2012™. The publication contains data on spatial distribution of aggregate deposits and gross bank credit of scheduled commercial banks including regional rural banks (RRBs) based on Basic Statistical Return (BSR)-7 as on June 29, 2012. The… Read More

FDI Policy Revised – Circular With Effect from 5th April 2013

The Government of India is seeking to further simplify the foreign investment regime, by releasing a revised consolidated FDI policy guidelines. The changes include investments in sectors like single and multi-brand retail, power exchanges, asset reconstruction companies (ARCs), broadcasting, civil aviation, and non-banking financial companies (NBFCs). The following is the extract from the new guidelines.… Read More

RBI Monetary and Credit Information Review March 2013

The Monthly Publication from RBI - Monetary and Credit Information Review March 2013 is available for download. ****** Read More

Tariff Rate Quota – Export of raw cane sugar to the US

(To be published in the Gazette of India Extraordinary Part-I Section-I) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Public Notice No. 53 (RE-2012)/2009-2014 New Delhi, the 5th April, 2013 Subject:- Export of 8,587 MTs of raw cane sugar to USA under Tariff Rate Quota. In exercise of the powers conferred… Read More

Consolidated FDI Policy – New Guidelines Released

The government is seeking to further simplify the foreign investment regime, by releasing a revised consolidated FDI policy guidelines. The changes include investments in sectors like single and multi-brand retail, power exchanges, asset reconstruction companies (ARCs), broadcasting, civil aviation, and non-banking financial companies (NBFCs). Changes in the Consolidated FDI Policy Guidelines Allows upto 51% inflows… Read More