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Post by: poonamgandhi in Legal News
Various reports and returns discontinued under FEMA, 1999 Recently, vide circular no. RBI/2020-21/66 dated 13th November 2020, the Reserve Bank of India has announced the discontinuation of a total of 17 reports and returns which were earlier prescribed under the…
Post by: poonamgandhi in Banking News
Guidelines on Opening of Current Account To strengthen the credit discipline, vide circular no. RBI/2020-21/20 dated 6th August 2020, the Reserve Bank of India has reviewed and revised the instruction on the opening of the Current Account with the Banks.…
Post by: Arnold Thomas in Banking Import - Export
Merchanting Trade Transactions – RBI Revised Guidelines The Merchanting Trade Transactions guidelines are revised and released by RBI periodically. The latest guidelines were released on 23rd January 2020, and this article provides details on the revised guidelines of RBI notification.…
Post by: Athreya in Compliance Government Initiatives
Indian Stamp Rules 2019 The Government of India (GoI) introduced the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules, 2019. The rules provide a consistent basis for the levy of stamp duty on securities-related transactions.…
Post by: Arnold Thomas in Banking
Exchange of Old Notes and Coins The Reserve Bank of India has been laying several rules and guidelines in facilitating the exchange of coins and notes. The RBI rules of RBI not only warns on the refusal of accepting the…
Post by: Chris John in Banking
Statutory Liquidity Ratio One of the main functions of the Reserve Bank of India (RBI) is to control the supply of credit as well as the cost of it. The RBI mandates that every bank is required to maintain a specific…
Post by: Chris John in Banking
Reserve Bank of India (RBI) The overall economic efficiency and the stability of a nation are dependent on the payment and settlement system prevailing in that country. As a result, the various regulators in India, including the central bank, have…