FEMA & Banking

Blog, News, FEMA & Banking

July 22, 2024

SAFEMA Orders Release of Seized Funds | Reduces Penalty as Appellant Proves Legal Forex Acquisition During Travel Abroad

Case Details: Vaseem Kapadia v. … Continue reading “SAFEMA Orders Release of Seized Funds | Reduces Penalty as Appellant Proves Legal Forex Acquisition During Travel Abroad”

Blog, News, FEMA & Banking

July 20, 2024

HC Orders Release of Attached Shares Under PMLA on Furnishing ‘Fixed Deposit Receipts’ Equivalent to Proceeds of Crime

Case Details: Gagan Infraenergy Ltd. … Continue reading “HC Orders Release of Attached Shares Under PMLA on Furnishing ‘Fixed Deposit Receipts’ Equivalent to Proceeds of Crime”

News, Blog, FEMA & Banking

July 17, 2024

RBI Issues Revised Master Directions on ‘Fraud Risk Management’ for the Regulated Entities

Press Release No. 2024-2025/698; Dated: … Continue reading “RBI Issues Revised Master Directions on ‘Fraud Risk Management’ for the Regulated Entities”

Blog, News, FEMA & Banking

July 17, 2024

RBI Extends Due Date for Filing of FLA Return to 31-07-2024

RBI news RBI has extended … Continue reading “RBI Extends Due Date for Filing of FLA Return to 31-07-2024”

Blog, News, FEMA & Banking

July 16, 2024

IFSCA Amends IFSCA (Banking) Regulations | Designates 4 Additional Currencies as ‘Specified Foreign Currencies’

Notification No. IFSCA/GN/2024/004; Dated: 04.07.2024 … Continue reading “IFSCA Amends IFSCA (Banking) Regulations | Designates 4 Additional Currencies as ‘Specified Foreign Currencies’”

Blog, FEMA & Banking

July 15, 2024

Acquisition of Immovable Property Outside India under FEMA

The acquisition of immovable property … Continue reading “Acquisition of Immovable Property Outside India under FEMA”

Blog, News, FEMA & Banking

July 15, 2024

Court Refuses Bail to Broker in Money Laundering Case Due to Lack of Plausible Explanation for High Commission Rates

Case Details: Udhaw Singh v. … Continue reading “Court Refuses Bail to Broker in Money Laundering Case Due to Lack of Plausible Explanation for High Commission Rates”

Blog, News, FEMA & Banking

July 12, 2024

RBI Allows Authorised Persons to Facilitate Remittances for All Permissible Purposes Under LRS to IFSCs

Circular No. RBI/2024-25/49 A.P. (DIR … Continue reading “RBI Allows Authorised Persons to Facilitate Remittances for All Permissible Purposes Under LRS to IFSCs”

Blog, News, FEMA & Banking

July 12, 2024

RBI Permits Banks to Use Ratings of ‘Brickwork Ratings India Private Limited’ for Bank Loans Up to Rs 250 Crore

Circular No. RBI/2024-25/50 DOR.STR.REC.26/21.06.008/2024-25; Dated: … Continue reading “RBI Permits Banks to Use Ratings of ‘Brickwork Ratings India Private Limited’ for Bank Loans Up to Rs 250 Crore”

Blog, News, FEMA & Banking

July 10, 2024

HC Orders Bank to Supply Investigation Report and Annexures with SCN for Fraud Categorization of Petitioner’s a/c

Case Details: Ascon Dairy (P.) … Continue reading “HC Orders Bank to Supply Investigation Report and Annexures with SCN for Fraud Categorization of Petitioner’s a/c”