RBI UPDATE

Foreign Exchange Management (Foreign currency accounts by a person resident in India) Regulations, 2015

In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999, and in supersession of Notification No. FEMA 10/2000-RB dated May 3, 2000, as amended from time to time, the Reserve Bank of India has made regulations for opening,...Continue Reading

RBI UPDATE

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Seventh Amendment) Regulations, 2016

RBI has further amended Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 whereby regulation 10A has been inserted after regulation 10: 

10A - In case of transfer of shares between a resident buyer and a...Continue Reading

RBI UPDATE

Cyber Security Framework in Banks

Reserve Bank of India has issued Cyber Security Framework putting in place an adaptive Incident Response, Management and Recovery framework to deal with adverse disruptions. The framework requires the Banks to place a Cyber Security Framework duly approved by the Board to combat Cyber threats and acceptable level of risk. It is mandated that a Security Operations...Continue Reading

RBI UPDATE

RBI aligns Rules for Investment in Credit Information Companies (CICs)

The RBI has, in supersession of its directive dated November 29, 2013, revised its directions (DBR. CID. BC. No.98/20.16.042/2015-16 dated May 19, 2016), allowing higher Foreign Direct Investment (FDI) limits in Credit Information Companies (CICs) to entities which have an established track record of...Continue Reading

Investment by Foreign Portfolio Investors (FPI) in Corporate Debt Securities

RBI, in consultation with Ministry of Finance proposes to permit investment by FOREIGN PORTFOLIO INVESTORS (FPIs) in unlisted debt securities and securitised debt instruments. As of now FPI are permitted to invest only in listed or to-be-listed debt securities. Investment in unlisted debt securities is...Continue Reading

RBI UPDATE

Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015

RBI has notified Foreign Exchange Management (Exports of Goods and Services) Regulations, 2015 in supersession with erstwhile Foreign Exchange Management (Exports of Goods and Services) Regulations, 2000

The new regulation have come into force with effect from 12th January, 2016.

RBI UPDATE

Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016

Reserve Bank of India has issued Master Direction - Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016

These directions shall come into effect on the day it is placed on the official website of the...Continue Reading

RBI UPDATE

Master Direction – Ownership in Private Sector Banks, Directions, 2016

RBI has issued Master Direction – Ownership in Private Sector Banks, Directions, 2016

These directions shall come into effect on the day they are placed on the official website of the Reserve Bank of India (RBI).

The provisions of these Directions shall apply to all private sector banks licensed...Continue Reading

RBI UPDATE

Establishment of Branch Office (BO) / Liaison Office (LO) / Project Office (PO) in India by foreign entities - procedural guidelines

Reserve Bank of India has issued procedural guidelines for establishment of Branch Office (BO)/ Liaison Office (LO)/ Project Office (PO) in India by foreign entities.

The salient provisions of...Continue Reading

RBI UPDATE

Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016

RBI has notified Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 in supersession of the erstwhile Foreign Exchange Management (Manner of Receipt and Payment) Regulation, 2000 which deals with Receipt from and Payment to a person Resident outside...Continue Reading