FEMA & Banking

Blog, News, FEMA & Banking

May 5, 2022

Order of ED and AA to freeze bank accounts of a petitioner under PMLA was set aside as due procedure wasn’t followed: HC

Case Details: JK Tyre and … Continue reading “Order of ED and AA to freeze bank accounts of a petitioner under PMLA was set aside as due procedure wasn’t followed: HC”

Blog, News, FEMA & Banking

March 7, 2022

Investment made in Umbrella Organization by Urban Co-operative Banks not to be counted in non-SLR investment limit

Circular no. RBI/2021-22/177 DOR.REC.MRG.90/16.20.000/2021-22, Dated: … Continue reading “Investment made in Umbrella Organization by Urban Co-operative Banks not to be counted in non-SLR investment limit”

Blog, News, FEMA & Banking

March 5, 2022

Prima facie satisfaction of AA in proceedings doesn’t hinder prosecuting a money launderer

Case Details: Dhayanidhi Alagiri v. … Continue reading “Prima facie satisfaction of AA in proceedings doesn’t hinder prosecuting a money launderer”

Blog, News, FEMA & Banking

February 26, 2022

Govt. fixed the date for closure of residual transactions of banks for March 2022: RBI

Circular No. RBI/2021-22/176 CO.DGBA.GBD.No.S1422/42-01-029/2021-2022, Dated: … Continue reading “Govt. fixed the date for closure of residual transactions of banks for March 2022: RBI”

Blog, News, FEMA & Banking

February 25, 2022

HC denied anticipatory bail to petitioner-directors as investigation was pending

Case Details: Vuppalapati Venkata Rama … Continue reading “HC denied anticipatory bail to petitioner-directors as investigation was pending”

News, Blog, FEMA & Banking

February 23, 2022

RBI cautions public against prepaid payment instruments issued by unauthorised entities

Press Release: 2021-2022/1750, Dated 22-02-2022 … Continue reading “RBI cautions public against prepaid payment instruments issued by unauthorised entities”

Blog, News, FEMA & Banking

February 23, 2022

RBI recognises ‘Sikkim State co-operative Bank limited’ as Scheduled Commercial Bank

CIRCULAR NO. RBI/2021-22/174 DOR.RUR.REC.86/19.51.025/2021-22, Dated … Continue reading “RBI recognises ‘Sikkim State co-operative Bank limited’ as Scheduled Commercial Bank”

Blog, News, FEMA & Banking

February 22, 2022

HC quashes writ petition filed against the order for confiscation of money as facts were to be investigated to cull out the truth

Case Details: D. Naresh Kumar … Continue reading “HC quashes writ petition filed against the order for confiscation of money as facts were to be investigated to cull out the truth”

Blog, News, FEMA & Banking

February 19, 2022

RBI relaxes norms relating to Payment and Settlement Systems; removes requirement of submission of returns u/r 6 (2)

Notification No. CO. DPSS. Ovrst. … Continue reading “RBI relaxes norms relating to Payment and Settlement Systems; removes requirement of submission of returns u/r 6 (2)”

Blog, News, FEMA & Banking

February 15, 2022

RBI issues operational instructions for ‘Credit Default Swap’ transactions; allows FPIs to buy/sell CDS protections

Circular No. 23 RBI/2021-22/155, Dated: … Continue reading “RBI issues operational instructions for ‘Credit Default Swap’ transactions; allows FPIs to buy/sell CDS protections”