FEMA & Banking

News, Blog, FEMA & Banking

October 21, 2023

RBI Issues Master Direction on NBFCs

Master Direction No RBI/DoR/2023-24/105, DoR.FIN.REC.No.45/03.10.119/2023-24 … Continue reading “RBI Issues Master Direction on NBFCs”

Blog, Advisory, FEMA & Banking

April 25, 2024

[Analysis] Strengthening India’s Financial Security | Key Amendments to Anti-Money Laundering Rules

Table of Contents Introduction Definition … Continue reading “[Analysis] Strengthening India’s Financial Security | Key Amendments to Anti-Money Laundering Rules”

Blog, News, FEMA & Banking

October 18, 2023

Reverse Repo Transactions With Non-banks for All Tenors Shall Be Reported Under Loans, Cash Credits Under Bank Credit | RBI

Circular No. RBI/2023-24/68 DoR.RET.REC.43/12.01.001/2023-24, Dated: … Continue reading “Reverse Repo Transactions With Non-banks for All Tenors Shall Be Reported Under Loans, Cash Credits Under Bank Credit | RBI”

Blog, News, FEMA & Banking

October 18, 2023

Govt. Requires REs to Immediately Obtain ‘Client Due Diligence’ Records from Third Parties Under PMLA Norms

Notification No. G.S.R 745(E); Dated: … Continue reading “Govt. Requires REs to Immediately Obtain ‘Client Due Diligence’ Records from Third Parties Under PMLA Norms”

Blog, News, FEMA & Banking

October 16, 2023

ATFE Slashes Penalty on Appellant for Wrong Transfer of Forex Outside India as He Repatriated the Same & Paid Tax

Case Details: Shri Kumar Satur … Continue reading “ATFE Slashes Penalty on Appellant for Wrong Transfer of Forex Outside India as He Repatriated the Same & Paid Tax”

Blog, News, FEMA & Banking

October 12, 2023

RBI Extends Prompt Corrective Action (PCA) Framework to Government NBFCs from October 1, 2024

Circular No. RBI/2023-24/67 Ref. No.DoS.CO.PPG/SEC.05/11.01.005/2023-24; … Continue reading “RBI Extends Prompt Corrective Action (PCA) Framework to Government NBFCs from October 1, 2024”

Blog, News, FEMA & Banking

October 11, 2023

Obtaining of Decree in India by Exporter-Co. Against a Foreign Importer for Un-paid Goods was Reasonable | HC

Case Details: Hooghly Mills Co. … Continue reading “Obtaining of Decree in India by Exporter-Co. Against a Foreign Importer for Un-paid Goods was Reasonable | HC”

News, Blog, FEMA & Banking

October 9, 2023

Banks must Maintain an Extra Daily Average Balance with the RBI in Addition to the Required Daily Balance | RBI

Notification No. DOR.RET.REC.35/12.01.001/2023-24., Dated: 08.09.2023 … Continue reading “Banks must Maintain an Extra Daily Average Balance with the RBI in Addition to the Required Daily Balance | RBI”

Blog, News, FEMA & Banking

October 9, 2023

RBI Doubles Monetary Ceiling of Gold Loans under Bullet Repayment Scheme for Urban Co-operative Banks to Rs 4 lakh

Circular No. RBI/2023-24/66 DOR.CRE.REC.42/07.10.002/2023-24; Dated: … Continue reading “RBI Doubles Monetary Ceiling of Gold Loans under Bullet Repayment Scheme for Urban Co-operative Banks to Rs 4 lakh”

Blog, News, FEMA & Banking

October 7, 2023

RBI Proposes to Introduce ‘Card-on-File Token’ Creation Facilities Directly at the Issuer Bank Level

Press Release: 2023-2024/1053, Dated: 06.10.2023 … Continue reading “RBI Proposes to Introduce ‘Card-on-File Token’ Creation Facilities Directly at the Issuer Bank Level”