Daily Archives: January 5, 2016

RBI Master Direction on Compounding of Contraventions under FEMA 1999

RBI/FED/2015-16/1 FED Master Direction No.4/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Sir, Master Direction- Compounding of Contraventions under FEMA, 1999 The provisions of section 15 of Foreign Exchange Management Act, 1999 (42 of 1999) hereinafter referred to as FEMA, 1999, permit compounding of contraventions and,… Read More »

RBI Master Direction on Borrowing and Lending transactions

Source Reserve Bank of India RBI/FED/2015-16/2 FED Master Direction No. 6/2015-16 January 1, 2016 To All Authorised Dealer Category – I banks and Authorised Banks Madam/ Dear Sir, Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin Borrowing and lending transactions in… Read More »

RBI Master Direction on Remittance Facilities for residents

Source Reserve Bank of India RBI/FED/2015-16/4 FED Master Direction No. 8/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Other Remittance Facilities Miscellaneous remittance facilities for residents are allowed in terms of Section 5 of the Foreign Exchange Management Act, 1999, read with Government of India Notification… Read More »

RBI Master Direction on Issuance of insurance

RBI/FED/2015-16/5 FED Master Direction No. 9/2015-16 January 1, 2016 To, All Authorised Persons in Foreign Exchange Madam / Sir, Master Direction – Insurance Issuance of insurance is regulated under sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999, (42 of 1999), read with Notification No.FEMA.12/2000-RB, dated May 3, 2000. These Regulations are… Read More »

RBI Direction on Establishment of Branch Offices in India by foreign entities

Source Reserve Bank of India RBI/FED/2015-16/6 FED Master Direction No.10/2015-16 January 1, 2016 To, All Category – I Authorised Dealer banks and Authorised Banks Madam / Dear Sir, Master Direction – Establishment of Liaison/ Branch/ Project Offices in India by foreign entities Establishment of Branch/ Liaison/ Project Offices in India is regulated in terms of… Read More »

RBI Directions on Acquisition and Transfer of Immovable Property under FEMA Act

Source Reserve Bank of india RBI/FED/2015-16/7 FED Master Direction No. 12/2015-16 January 1, 2016 To, All Category – I Authorised Dealer banks and Authorised Banks Madam/ Sir Master Direction – Acquisition and Transfer of Immovable Property under Foreign Exchange Management Act, 1999 Acquisition and transfer of immovable property by Indian residents outside India and Non-residents… Read More »

RBI Directions on Remittance outside India

Source Reserve Bank of India RBI/FED/2015-16/8 FED Master Direction No. 13/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction – Remittance of assets Remittance outside India by a person whether resident in India or not, of assets in India, are governed by section… Read More »

RBI Master Direction on maintaining foreign currency accounts by a person resident in India

RBI/FED/2015-16/9 FED Master Direction No. 14/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Sir, Master Direction – Deposits and Accounts Opening, holding and maintaining foreign currency accounts by a person resident in India is regulated in terms of section 9 of the Foreign Exchange Management Act,… Read More »

RBI Master Direction on direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad

RBI/FED/2015-16/10 FED Master Direction No. 15/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction – Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS) abroad… Read More »

Repatriation of income from sale of Asset held abroad by NRIs

Source :Reserve Bank of India RBI/FED/2015-16/14 FED Master Direction No. 19/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction – Miscellaneous Reserve Bank of India has issued Master Directions consolidating relevant A.P (DIR Series) Circulars issued so far within the ambit of the… Read More »

RBI Master Direction for ECB , Trade Credit ,Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers

RBI/FED/2015-16/15 FED Master Direction No.5/2015-16 January 1, 2016 To All Authorised Dealer Category – I banks and Authorised Banks Madam / Dear Sir, Master Direction – External Commercial Borrowings, Trade Credit, Borrowing and Lending in Foreign Currency by Authorised Dealers and Persons other than Authorised Dealers Transactions on account of External Commercial Borrowings (ECB) and… Read More »

RBI Master Direction for Reporting under FEMA 1999

RBI/ FED/ 2015-16/13 FED Master Direction No. 18/ 2015-16 January 1, 2016 To, All Authorised Persons Madam/ Sir, Master Direction – Reporting under Foreign Exchange Management Act, 1999 Foreign Exchange Management Act, 1999 (FEMA) is administered through the authorised persons and is based on the declarations and averments made to them by persons while undertaking… Read More »

RBI Directions on Maintenance of Vostro Accounts of Non-resident Exchange Houses

Source Reserve Bank of India RBI/FED/2015-16/16 FED Master Direction No.2/2015-16 January 1, 2016 To All Authorised Persons in Foreign Exchange Madam / Dear Sir, Master Direction – Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses Rupee Drawing Arrangement (RDA) is a channel to receive cross-border remittances from overseas jurisdictions. Under this… Read More »

RBI Master directions for Money Changing Activities

Source : Reserve Bank of India RBI/FED/2015-16/17 FED Master Direction No.3/2015-16 January 1, 2016 To All Authorised Persons in Foreign Exchange Madam / Dear Sir, Master Direction – Money Changing Activities In terms of Section 10 of the Foreign Exchange Management Act, 1999, Reserve Bank authorises persons designated as Authorised Persons to deal in foreign… Read More »

Debit and ATM Cards are defined as Currency under FEMA

NOTIFICATION Mumbai, the 29th December, 2015 No. FEMA 15 (R)/ 2015 – RB Definition of ” Currency “ G.S.R. 1008(E).—In pursuance of clause (h) of Section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supersession of Notification No. FEMA 15/ 2000-RB dated May 3, 2000, as amended from time to time,… Read More »

ISRO Planning to Launch 8 Satellites on One PSLV

ISRO is Planning to Launch Eight (8) Satellites on One PSLV: Dr. M. Annadurai ISRO is planning to launch eight micro satellites on a single PSLV in future, said Dr.M. Annadurai, Director, ISRO. He was addressing a session on the topic “Future Satellite Programme” in the plenary of the 103rd Indian Science Congress at the… Read More »

Concept Paper On Rail Development Authority of India

Ministry of Railways Prepares Concept Paper On Rail Development Authority of India The Concept Paper Has Been Uploaded On The Railway Ministry’s Website www.indianrailways.gov.in Comments and Suggestions Invited From The Public About This Authority The Comments Can Be Submitted By 30th January, 2016              Ministry of Railways has prepared a concept paper on Rail Development… Read More »

Making social security schemes accessible to unorganised sector workers

Finance Minister: To make health and social security benefits accessible to un-organised sector workers like construction workers, migrant labourers, volunteers of different schemes including Anganwadi workers are one of the major priorities of the present Government. The Union Finance Minister Shri Arun Jaitley said that the making social security schemes accessible to unorganised sector workers… Read More »