RBI permits NRIs to exchange old notes till June 30
The Dollar Business Bureau The Reserve Bank of India (RBI) has permitted non-resident Indians (NRIs) to exchange scrapped notes of Rs.500 and Rs.1,000 till June 30. This exchange facility will be only available through specified offices of RBI in Delhi, Mumbai, Kolkata, Chennai and Nagpur. Resident Indian nationals who failed to deposit the junked notes and were out of the country between November 9 and December 30, 2016 can get the facility to exchange the old notes up to March 31, 2017, and NRIs can exchange their old notes up to June 30, 2017. NRIs (Non-Resident Indians) and Indian citizens abroad can deposit the demonetised currency up to Rs.25,000 during the grace period of 3-6 month, but only if they declare the junked banknotes to ...
Shri Ibrahim Ateef Damda Fakki - abetting smuggling of goods in future
Whereas the Joint Secretary to the Government of India, specially empowered under subsection (1) of Section 3 of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (52 of 1974) issued order F.No.673/03/2016-Cus.VIII, dated 20.05.2016 under the said sub-section directing that Shri Ibrahim Ateef Damda Fakki S/o Shri Mohammed Jaffer Damda Fakki, R/o- House No.765/2A, DF House Bunder Road, Cross Muscat Colony, Kokti Nagar, Bhatkal, Uttarakannada, Karnataka- 581320 be detained and kept in custody in Modern Central Jail, Colvale, North Goa with a view to preventing him from abetting smuggling of goods in future. 2. Whereas the Central Government has reasons to believe that the aforesaid person has absconded or has been concealing himself so that the order ...
RBI limits FDI to 49% in Equitas Holdings
The Dollar Business Bureau The Reserve Bank of India (RBI) on Wednesday notified that aggregate foreign investment limit in Chennai-based Equitas Holdings, which got an in-principle approval for small finance bank, should not exceed 49 percent. In September 2015, Equitas Holdings was among the 10 enterprises to have been granted in-principle approval from the central bank for setting up small finance banks. According to the RBI's notification, foreign investment in small finance banks would be in accordance with the FDI policy for private banks. A release by RBI stated that the overall investment limit in Equitas Holdings under the Portfolio Investment Scheme for foreign portfolio investors (FPIs)/foreign institutional investors (FIIs) shall remain at 24 percent and for non-resident Indians (NRI), the ceiling should be at 10 percent. “For total foreign ...
Foreign Exchange Management Regulations, 2004 amended
Dated 2nd, December 2015 | Copy of | Notification No.FEMA. 359/2015-RB | Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations. 2015 G.S.R. 921(E).—In exercise of the powers conferred by clause (11) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999(42 of 1999), the Reserve Bank of India hereby makes the following amended in the Foreign Exchange Management ('Transfer or Issue or Any Foreign Security) Regulations; 2004 (Notification No. FEMA. 12.0/2004-RB dated July 7, 2004) namely:- 1. Short Title & Commencement (i) These Regulations may be called die Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2015. (ii) They shat come into force from rile date yr their publicarion in rile ...
Investment by Foreign Portfolio Investors (FPI) in Corporate Bonds
Dated November 26th, 2015 | Copy of | Circular No.31 26/11/2015 | To, All Authorised Persons Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA.20/2000-RB dated May 3, 2000, as amended from time to time and to A.P. (DIR Series) Circular No.71 dated February 3, 2015 and A. P. (DIR Series) Circular No.73 dated February 6, 2015 in terms of which all future investments by Foreign Portfolio Investors (FPI) in NCDs/bonds shall be required to be made in securities with a minimum residual maturity of three years. 2. On a review, it has been decided to ...
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (11th Amendment) Regulations, 2015
Dated November 16th, 2015 | Copy of | Notification No.FEMA.355/2015-RB | In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB dated 3rd May, 2000) namely:- 1. Short Title & Commencement:- (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Eleventh Amendment) Regulations, 2015. (ii) They shall come into force from the date of publication in the Official Gazette. 2. ...
Foreign Exchange Management (Permissible Capital Account Transactions) (4th Amendment) Regulations, 2015
Dated November 16th, 2015 | Copy of | Notification No.FEMA.345/2015-RB | In exercise of the powers conferred by sub-section (2) of Section 6, sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes, in consultation with the Central Government, the following amendments in the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 (Notification No. FEMA.1/2000-RB dated 3rd May 2000), namely:- 1. Short Title and Commencement:- (i) These Regulations may be called the Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015. (ii) They shall come into force from the date of their publication in the Official Gazette. 2. Amendment to the Regulation:- In the Foreign Exchange Management (Permissible ...
Transfer or Issue of Security by a Person Resident outside India
Dated 30th September, 2015 | Copy Of | Notification No.FEMA.351/2015 RB | Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Seventh Amendment) Regulations, 2015 In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA.20/2000-RB dated 3rd May 2000), namely:- 1. Short Title & Commencement (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a person resident outside India) (Seventh Amendment) ...
