FEMA & Banking

News, Blog, FEMA & Banking

January 3, 2025

RBI Introduces Beneficiary Bank Account Name Look-Up Facility for RTGS and NEFT Systems

Circular no. RBI/2024-25/99 CO.DPSS.RPPD.No.S987/04.03.001/2024-25; Dated: … Continue reading “RBI Introduces Beneficiary Bank Account Name Look-Up Facility for RTGS and NEFT Systems”

Blog, News, FEMA & Banking

January 2, 2025

Pre-Crime Property Attachment Upheld as Appellant Diverted and Layered Crime Proceeds to Group Cos. | SAFEMA-AT

Case Details: Rakesh Kumar Tandon … Continue reading “Pre-Crime Property Attachment Upheld as Appellant Diverted and Layered Crime Proceeds to Group Cos. | SAFEMA-AT”

Blog, News, FEMA & Banking

December 30, 2024

RBI Mandates Banks to Report ‘Over-the-Counter’ Transactions in Gold Derivatives from February 1, 2025

Circular no. RBI/2024-25/98 FMRD.FMD.No.08/02.03.185/2024-25; Dated: … Continue reading “RBI Mandates Banks to Report ‘Over-the-Counter’ Transactions in Gold Derivatives from February 1, 2025”

Blog, News, FEMA & Banking

December 30, 2024

Govt. Extends the Validity of FCRA Registration Certificates Up to March 31, 2025

Public Notice No. II/21022/23(22)/2020-FCRA-III; Dated: … Continue reading “Govt. Extends the Validity of FCRA Registration Certificates Up to March 31, 2025”

News, Blog, FEMA & Banking

December 29, 2024

RBI Permits Full-KYC PPIs Like PhonePe or GPay to Transfer/Receive Funds in Wallet Through Any Third-Party UPI Apps

Circular No. RBI/2024-2025/97 CO.DPSS.POLC.No.S972/02-14-006/2024-25, Dated: … Continue reading “RBI Permits Full-KYC PPIs Like PhonePe or GPay to Transfer/Receive Funds in Wallet Through Any Third-Party UPI Apps”

Blog, News, FEMA & Banking

December 29, 2024

Plea u/s 14 of SARFAESI Maintainable as Procedural Defect of Missing Affidavit Was Cured Through Additional Filings | HC

Case Details: Shailesh Traders v. … Continue reading “Plea u/s 14 of SARFAESI Maintainable as Procedural Defect of Missing Affidavit Was Cured Through Additional Filings | HC”

Blog, News, FEMA & Banking

December 28, 2024

HC Upholds Petitioner’s Arrest by ED Citing Fraud Allegations, Need for Further Investigation, and Evidence Tampering Risk

Case Details: Arvind Dham v. … Continue reading “HC Upholds Petitioner’s Arrest by ED Citing Fraud Allegations, Need for Further Investigation, and Evidence Tampering Risk”

Blog, News, FEMA & Banking

December 28, 2024

Reg 5 of Stockbroker Regulations Mandates 15% Interest on O/S Dues of Annual Turnover Fees; SEBI Lacks Discretion to Deviate | SAT

Case Details: ICAP IL India … Continue reading “Reg 5 of Stockbroker Regulations Mandates 15% Interest on O/S Dues of Annual Turnover Fees; SEBI Lacks Discretion to Deviate | SAT”

Blog, News, FEMA & Banking

December 28, 2024

RBI Forms a Committee to Develop the Framework for Responsible and Ethical Enablement of AI in the Financial Sector

Press Release: 2024-2025/1779, Dated: 26.12.2024 … Continue reading “RBI Forms a Committee to Develop the Framework for Responsible and Ethical Enablement of AI in the Financial Sector”

Blog, News, FEMA & Banking

December 26, 2024

ED Couldn’t Deny NOCs for Remitting Funds Abroad Based on Mere FEMA Summons; Clear Proof of Contravention Was Required | HC

Case Details: Times Internet Ltd. … Continue reading “ED Couldn’t Deny NOCs for Remitting Funds Abroad Based on Mere FEMA Summons; Clear Proof of Contravention Was Required | HC”