Daily Archives: August 9, 2015

FRAUDS CLASSIFICATION AND REPORTING

By | August 9, 2015

FRAUDS  CLASSIFICATION AND REPORTING MASTER CIRCULAR DBS.CO.CFMC.BC.No.1/23.04.001/2015-16, DATED 1-7-2015 Please refer to our letter DBS.CO.CFMC.BC.No.1/23.04.001/2014-15 dated July 01, 2014 forwarding the Master Circular on ‘Frauds – Classification and Reporting’. It may be noted that the Master Circular consolidates and updates all the instructions issued during the year since the date of the last Master Circular… Read More »

ACQUISITION AND TRANSFER OF PROPERTY IN INDIA BY NRI

By | August 9, 2015

ACQUISITION AND TRANSFER OF PROPERTY IN INDIA BY NRI NRI S/PIOS/FOREIGN NATIONALS OF NON-INDIAN ORIGIN MASTER CIRCULAR NO.4/2015-16, DATED 1-7-2015 Acquisition and transfer of immovable property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin is regulated in terms of Sub-sections (3), (4) and (5) of Section 6 of the Foreign Exchange Management Act, 1999 read with… Read More »

INTEREST RATES ON DEPOSITS HELD IN FCNR

By | August 9, 2015

INTEREST RATES ON DEPOSITS HELD IN FCNR(B) ACCOUNTS MASTER CIRCULAR DBR.NO.DIR.BC.8/13.03.00/2015-16, DATED 1-7-2015   Please refer to the Master Circular DBOD No.Dir.BC.14/13.03.00/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014 relating to deposits held in FCNR (B) Accounts. This Master Circular consolidates instructions on the above matter issued up… Read More »

GUARANTEES AND CO ACCEPTANCES MASTER CIRCULAR

By | August 9, 2015

GUARANTEES AND CO-ACCEPTANCES MASTER CIRCULAR DBR.No.DIR.BC.11/13.03.00/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD.No.Dir.BC.17/13.03.00/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014, relating to Guarantees and Co-acceptances. This Master Circular consolidates the instructions on the above matter issued up to June 30, 2015. A. Purpose This Master Circular… Read More »

IMPORT OF GOODS AND SERVICES MASTER CIRCULAR

By | August 9, 2015

IMPORT OF GOODS AND SERVICES MASTER CIRCULAR NO.13/2015-16, DATED 1-7-2015 Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account Transaction) Rules, 2000 as… Read More »

HOUSING FINANCE MASTER CIRCULAR

By | August 9, 2015

HOUSING FINANCE MASTER CIRCULAR DBR.No.DIR.BC.13/08.12.001/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No. Dir. BC. 18/08.12.001/2014-15 dated July 1, 2014 consolidating the instructions/guidelines issued to banks till June 30, 2014 relating to Housing Finance. This Master Circular consolidates instructions on the above matter issued up to June 30, 2015. A. Purpose To consolidate… Read More »

EXPORT OF GOODS AND SERVICES

By | August 9, 2015

EXPORT OF GOODS AND SERVICES MASTER CIRCULAR NO.14/2015-16, DATED 1-7-2015 Export of Goods and Services from India is allowed in terms of clause (a) of sub-section (1) and sub-section (3) of Section 7 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign… Read More »

Foreign Currency Export Credit To Exporters

By | August 9, 2015

RUPEE  AND FOREIGN CURRENCY EXPORT CREDIT AND CUSTOMER SERVICE TO EXPORTERS MASTER CIRCULAR DBR No.DIR.BC.14/04.02.002/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No.DIR.(Exp).BC19/04.02.002/2014-15 dated July 1,2014 consolidating the instructions/guidelines issued to banks till June 30, 2014, relating to Rupee/ Foreign Currency Export Credit & Customer Service to Exporters. This Master Circular consolidates instructions… Read More »

FOREIGN DIRECT INVESTMENT IN INDIA

By | August 9, 2015

FOREIGN DIRECT INVESTMENT IN INDIA MASTER CIRCULAR NO.15/2015-16, DATED 1-7-2015 Foreign investment in India is governed by sub-section (3) of Section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to time. The regulatory framework and instructions issued by the Reserve Bank… Read More »

BRANCH LICENSING MASTER CIRCULAR

By | August 9, 2015

BRANCH LICENSING MASTER CIRCULAR DBR.CO.RRB.BL.BC.NO. 17/31.01.002/2015-16, DATED 1-7-2015 Please refer to the Master Circular RPCD.CO.RRB.No.BL.BC.4/03.05.90/2014-15 dated July 1, 2014 consolidating instructions/guidelines issued to Regional Rural Banks (RRBs) on Branch Licensing till June 30, 2014. The Master Circular has been suitably updated by incorporating the instructions issued up to June 30, 2015. The Master Circular has… Read More »