RBI/2024-25/52 CO.DPSS.POLC.No.S415/02.27.019/2024-25 July 24, 2024 The Chairman / Managing Director / Chief Executive Officer Authorised Payment System Operators / Participants (Banks and Non-banks) Madam / Dear Sir, Domestic Money Transfer – Review of Framework The framework for Domestic Money Transfer (DMT) was introduced in 2011, videRBI circular DPSS.PD.CO.No.622/02.27.019/2011-2012 dated October 5, 2011. There has been significant increase in the availability of bank...

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RBI/DOS/2024-25/120 DOS.CO.FMG.SEC.No.7/23.04.001/2024-25 July 15, 2024 The Chairman / Managing Director / Chief Executive Officer All Non-Banking Financial Companies (including Housing Finance Companies) Madam / Dear Sir, Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies) Please find enclosed asAnnex‘Reserve Bank of India (Fraud Risk Management in NBFCs) Directions, 2024’ issued in exercise of ...

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RBI/DOS/2024-25/119 DOS.CO.FMG.SEC.No.6/23.04.001/2024-25 July 15, 2024 The Chairman / Managing Director / Chief Executive Officer All Primary (Urban) Cooperative Banks (UCBs) All State Cooperative Banks (StCBs) and Central Cooperative Banks (CCBs) Madam / Dear Sir, Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs) / State Cooperative Banks (StCBs) / Central Cooperative Banks (CCBs) Please find enclosed asAnnex'Reserve Bank of India (Fraud Risk M...

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RBI/DOS/2024-25/118 DOS.CO.FMG.SEC.No.5/23.04.001/2024-25 July 15, 2024 The Chairman / Managing Director / Chief Executive Officer All Commercial Banks (including Regional Rural Banks) All India Financial Institutions (AIFIs)* Madam / Dear Sir, Master Directions on Fraud Risk Management in Commercial Banks (including Regional Rural Banks) and All India Financial Institutions Please find enclosed asAnnex‘Reserve Bank of India (Fraud Risk Management in Commercial Banks (inc...

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The Central Government, videNotificationsNo.06/2017-CentralTax(Rate),No.06/2017-IntegratedTax(Rate)andNo. 06/2017-Union territory Tax (Rate), all dated 28thJune 2017, had specified the Canteen Stores Department (“CSD”for short), under the Ministry of Defence, as a person who shall be entitled to claim a refund of fifty per cent of the applicable central tax, integrated tax and Union territory tax paid by the CSD on all inward supplies of goods received by the CSD for the purposes of ...

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Representationshave been received from trade/ industry requesting for prescribing a mechanism for seeking refund of additional IGST paid on account of upward revisionin priceof goods subsequent to export.It has been represented that there are cases wherethe price of export goodsneeds to be revised, subsequent to their exports, due to various reasons such as linking of the prices of the export commodities to some international indexoras perthe terms of contract between the two partiesetc.In such ...

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As per the recommendations of the GST Council, sub-rule (2) was inserted in Rule 28 of Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the“CGSTRules”)vide Notification No. 52/2023-Central Tax dated 26thOctober, 2023to provide for a specific clause for valuation of supply of services of providing corporate guarantee to any banking company or financial institution by an entity on behalf of a related person. Besides, Circular No. 204/16/2023-GST dated 27th October...

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Doubts have been raised by the trade and the field formations in respect of recovery of outstanding dues, in cases where the first appellate authority has confirmed the demand created by the adjudicating authority, fully or partially, and where appeal against such order of appellate authority could not be filed under section 112 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as ‘the CGST Act’) due to non-constitution of Appellate Tribunal (hereinafter referr...

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RBI/2024-25/49 A.P. (DIR Series) Circular No. 15 July 10, 2024 To, All Authorised Persons Madam / Sir, Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS) Attention of Authorised Persons is invited toA.P. (DIR Series) Circulars, i.e., No.11 dated February 16, 2021,No.03 dated April 26, 2023, andNo.06 dated June 22, 2023, on remittances to International Financial Services Centres (IFSCs) in India under the Liberalised Rem...

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RBI/2024-25/50 DOR.STR.REC.26/21.06.008/2024-25 July 10, 2024 All Scheduled Commercial Banks (including Small Finance Banks) (excluding Local Area Banks, Payments Banks and Regional Rural Banks) Dear Sir / Madam, Basel III Capital Regulations - Eligible Credit Rating Agencies (ECAI) Please refer to paragraph 6.1.2 of theMaster Circular DOR.CAP.REC.4/21.06.201/2024-25 dated April 1, 2024onBasel III Capital Regulations, wherein the list of domestic credit rating agencies accredit...

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RBI/2024-25/47 A.P. (DIR Series) Circular No. 13 July 03, 2024 To, All Authorised Dealers in Foreign Exchange Madam / Dear Sir, Release of foreign exchange for Miscellaneous Remittances In terms of the direction issued under theA.P.(DIR Series) Circular No. 16 dated September 12, 2002,A.P.(DIR Series) Circular No. 55 dated December 23, 2003andA. P. (DIR Series) Circular No.118 dated May 07, 2012, Authorised Dealers are permitted to release foreign exchange for any current acco...

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RBI/2024-25/46 A.P. (DIR Series) Circular No. 12 July 03, 2024 To All Authorised Dealers in Foreign Exchange Madam / Dear Sir Online submission of Form A2: Removal of limits on amount of remittance Attention of Authorised Dealer (AD) Category-I banks and AD Category-II entities is invited to paragraph 4 ofA.P. (DIR Series) Circular No. 50 dated February 11, 2016(Compilation of R-Returns: Reporting under FETERS) andA.P. (DIR Series) Circular No. 02 dated April 12, 2023(Authorised...

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Category : FEMA | Comments : 0 | Hits : 1762

Securities and Exchange Board of India (SEBI) has been issuing various Circulars from time to time for specifying the framework of EGRs, its risk management, Standard Operating Guidelines for Vault Managers & Depositories,etc.In order to enable the stakeholders to have access to all the provisionsmentioned in these circulars at one place,the provisions of the said circulars are incorporated in this Master Circular forEGRs...

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RBI/2024-25/44 FIDD.CO.PSD.BC.No.7/04.09.01/2024-25 June 21, 2024 The Chairman / Managing Director/ Chief Executive Officer [All Commercial Banks including Regional Rural Banks, Small Finance Banks, Local Area Banks and Primary (Urban) Co-operative Banks other than Salary Earners’ Banks] Madam/ Dear Sir, Priority Sector Lending – Amendments to the Master Directions Please refer toMaster Directions (MD) on Priority Sector Lending (PSL) dated September 04, 2020as up...

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RBI/2024-25/41 A.P. (DIR Series) Circular No. 09 June 07, 2024 To All Category-I Authorised Dealer Banks Madam/ Sir Foreign Exchange Management (Overseas Investment) Directions, 2022 - Investments in Overseas Funds Attention of Category-I Authorised Dealer Banks is invited to Paragraph 1(ix)(e) of Foreign Exchange Management (Overseas Investment) Directions, 2022, issued videA.P. (DIR Series) Circular No.12 dated August 22, 2022, in terms of which, investment (including sponso...

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RBI/2024-25/40 DoR.SPE.REC.No.24/13.03.00/2024-2025 June 07, 2024 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Local Area Banks Madam / Sir, Amendment to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 Please refer to paragraph 3(a)(i) of theMaster Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 dated March 03, 2016, wherein the definition of “Bulk Deposits” has been ...

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Uploading of KYC information by KYC Registration Agencies to Central KYC Records Registry - SEBI SEBI CircularSEBI/HO/MIRSD/SECFATF/P/CIR/2024/79 DatedJun 06, 2024...

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Category : SEBI | Comments : 0 | Hits : 2603

Market infrastructure Institutions (i.e. Stock Exchanges, Clearing Corporations and Depositories) are systemically important institutions for the development of the securities market. The role of surveillance at Market Infrastructure Institutions (“MIIs”)has become crucial in ensuring the safety and integrity of securities market in view of thesignificant increase in trading activity during the past few years, increasedparticipationby retail individual investors, increased trading ac...

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RBI/2024-25/39 A.P. (DIR Series) Circular No. 08 May 27, 2024 To All Authorised Persons in Foreign Exchange Madam/ Sir Instructions on Money Changing Activities Attention is invited toFED Master Direction No.3/2015-16 dated January 01, 2016(updated from time to time) on Money Changing Activities. 2. In terms of extant instructions, Full Fledged Money Changers (FFMCs)/non-bank Authorised Dealers (ADs) Category-II may obtain their normal business requirements of foreign currenc...

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RBI/2024-25/38 DOR.RET.REC.23/12.07.160/2024-25 May 24, 2024 All Banks Madam / Dear Sir, Exclusion of "Fincare Small Finance Bank Limited" from the Second Schedule to the Reserve Bank of India Act, 1934 and cessation as a banking company It is informed that "Fincare Small Finance Bank Limited" has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April 01, 2024, as the bank has ceased to carry on banking business wi...

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RBI/2024-25/37 DoS.CO.PPG.SEC.2/11.01.005/2024-25 May 21, 2024 All Scheduled Commercial Banks All Primary (Urban) Cooperative Banks Madam / Dear Sir, Internal Review – Interim Recommendations – Withdrawal of Circulars An internal review of regulations was carried out to remove obsolete/ outdated/ superfluous instructions, and to rationalize and simplify existing instructions. 2. In view of above, the circulars listed in theAnnexare withdrawn with effect from close...

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RBI/2024-25/35 FIDD.CO.LBS.BC.No.06/02.08.001/2024-25 May 15, 2024 The Chairman / Managing Director & Chief Executive Officer Lead Banks Concerned Madam/ Dear Sir, Formation of new district in the State of Assam – Assignment of Lead Bank Responsibility The Government of Assam has notified formation of a new district, viz., Biswanath in the state of Assam vide Gazette Notification ECF.No.367433/29 dated September 07, 2023. Accordingly, it has been decided to designate ...

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RESERVE BANK OF INDIA (FOREIGN EXCHANGE DEPARTMENT) CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 5(R)/(4)/2024-RB May 06, 2024 Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024 In exercise of the powers conferred by sub-section (2) of section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Deposit) Regulations, 2016 (Notification No. FEMA ...

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Relaxation of additional fees and extension of last date of liling of LLp BEN-2 and LLp Form No. 4D under the Limited Liab,ity Partnership Act, 2OOg-regarding....

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Category : Corporate Laws | Comments : 0 | Hits : 4821

RBI/FMRD/2024-25/117 FMRD.DIRD.01/14.01.023/2024-25 May 08, 2024 To All eligible market participants Madam/Sir Master Direction – Reserve Bank of India (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2024 Please refer to Paragraph 10 of theStatement on Developmental and Regulatory Policiesannounced as a part of theBi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020, on issuance of the Directions regarding exchange of variation margi...

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RBI/2024-25/34 A. P. (DIR Series) Circular No.05 May 08, 2024 To, The Authorised Dealers Madam/Sir, Margin for Derivative Contracts Attention of Authorised Dealers is invited to the Foreign Exchange Management (Margin for Derivative Contracts) Regulations, 2020 notified in the Gazette of India videnotification no. FEMA.399/RB-2020 dated October 23, 2020, the amendment to the Foreign Exchange Management (Margin for Derivative Contracts) Regulations, 2020 notified in the Gazette...

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RBI/2024-25/33 DOR.CRE.REC.22/21.03.054/2024-25 May 03, 2024 All Scheduled Commercial Banks (excluding RRBs) Madam/Dear Sir, Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs) Please refer tocircular DBOD.Dir.BC.68/13.03.00/2011-12 dated December 27, 2011on “Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs)” and mailbox clarification dated September 11, 2012 on “Applicability of Irrevoc...

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RBI/2024-25/32 A. P. (DIR Series) Circular No. 04 May 03, 2024 To, All Authorised Persons Madam/Sir, Master Direction – Risk Management and Inter-Bank Dealings: Amendments Attention of Authorised Persons is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 03, 2000 [Notification no. FEMA.25/RB-2000 dated May 03, 2000], as amended from time to time andMaster Direction - Risk Management and Inter-Bank Dealings da...

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RBI/2024-25/33 DOR.CRE.REC.22/21.03.054/2024-25 May 03, 2024 All Scheduled Commercial Banks (excluding RRBs) Madam/Dear Sir, Banks' Exposure to Capital Market -Issue of Irrevocable Payment Commitments (IPCs) Please refer tocircular DBOD.Dir.BC.68/13.03.00/2011-12 dated December 27, 2011on “Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs)” and mailbox clarification dated September 11, 2012 on “Applicability of Irrevo...

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RBI/2024-25/32 A. P. (DIR Series) Circular No. 04 May 03, 2024 To, All Authorised Persons Madam/Sir, Master Direction – Risk Management and Inter-Bank Dealings: Amendments Attention of Authorised Persons is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 dated May 03, 2000 [Notification no. FEMA.25/RB-2000 dated May 03, 2000], as amended from time to time andMaster Direction - Risk Management and Inter-Bank Dealing...

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Category : RBI | Comments : 0 | Hits : 4204