RBI / FEMA

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Articles RBI / FEMA

Introduction of Legal Entity Identifier for large value transactions of INR 50 crores or more in Centralized Payment System

With effect from April 1, 2021, The Reserve Bank of India has decided to introduce the LEI system for all payment transactions of value INR 50 crore and above undertaken by entities (non-individuals) using Nati...

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Articles RBI / FEMA

Revised Guidelines for Opening Current Accounts by Banks – More Discipline

Reserve Bank of India vide its notification dated 6th August, 2020 has provided instructions on opening current accounts by banks. • No bank shall open current accounts for customers who have availed credit fac...

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Articles RBI / FEMA

Extension of due date for filing of FLA Return for FY 2019-20

Reserve Bank of India (RBI) through an announcement on the Foreign Liabilities and Assets Information Reporting (FLAIR) system website has extended the due date of filing of Foreign Liabilities and Assets (FLA)...

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Articles RBI / FEMA

Extension of due date for filing of FLA Return for FY 2019-20

Reserve Bank of India (RBI) through an announcement on the Foreign Liabilities and Assets Information Reporting (FLAIR) system website has extended the due date of filing of Foreign Liabilities and Assets (FLA)...

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Articles RBI / FEMA

Prior Government Approval in case of Foreign Direct Investment by Chinese Companies in India

  Department for promotion of Industry and Internal Trade through Press Note 3 (2020) dated April 17th, 2020 announced new policy for foreign direct investment (FDI) from China. As per new policy all in...

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Articles RBI / FEMA

Relaxation for realization & repatriation of export proceeds: COVID-19 Relief Measure

In view of disruptions caused due to COVID-19 pandemic, the Reserve Bank of India (RBI) has announced that the time period for realization and repatriation of export proceeds for exports made up to or on 31st J...

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Articles RBI / FEMA

Non-debt instruments rules, 2019 of FEMA

Central government notification dated 17th October 2019 for new rules called the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 Introduction – On 17 October 2019, the Central Government ...

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Articles Corporate RBI / FEMA

Examination for appointment of independent directors

AMENDMENT IN RULES UNDER COMPANIES ACT, 2013 FOR APPOINTMENT AND QUALIFICATION OF INDEPENDENT DIRECTORS  The Ministry of Corporate Affairs (MCA) has amended the Companies Act, 2013 (applicable w.e.f 1st Decembe...

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Articles RBI / FEMA

CBDT GIFT TO CORPORATE TAXPAYERS – SLASHING OF TAX RATE TO 22% / 15%

With an objective to promote growth & investment and to attract fresh investment in Manufacturing, to boost “Make-in-India” initiative, Finance Ministry on 20.09.2019 has given major relief to the Corporate...

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Articles RBI / FEMA

Finance Minister’s Efforts to Boost Economic Growth of India

The Finance Minister, on Saturday 14.09.2019, has announced various measures to boost the economic growth. Excerpts of some of the measures are listed below: 1. The E-assessment Scheme under section 143(3A) of ...