Domestic Money Transfer – Review of Framework
Posted Date : 25-Jul-2024 , 08:30:35 am | Posted By: CASANSAAR
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 |
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Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies)
Posted Date : 16-Jul-2024 , 07:47:35 am | Posted By: CASANSAAR
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 |
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Master Directions on Fraud Risk Management in Urban Cooperative Banks (UCBs) / State Cooperative Banks (StCBs) / Central Cooperative Banks (CCBs)
Posted Date : 16-Jul-2024 , 07:46:07 am | Posted By: CASANSAAR
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 |
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Master Directions on Fraud Risk Management in Commercial Banks (including Regional Rural Banks) and All India Financial Institutions
Posted Date : 16-Jul-2024 , 07:44:36 am | Posted By: CASANSAAR
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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RBI |
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Processing of refund applications filed by Canteen Stores Department (CSD).
Posted Date : 13-Jul-2024 , 08:45:01 am | Posted By: CASANSAAR
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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GST |
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Mechanism for refund of additional Integrated Tax (IGST) paid on account of upward revision in price of the goods subsequent to export.
Posted Date : 13-Jul-2024 , 08:43:38 am | Posted By: CASANSAAR
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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GST |
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Clarification on various issues pertaining to taxability and valuation of supply of services of providing corporate guarantee between related persons.
Posted Date : 13-Jul-2024 , 08:42:08 am | Posted By: CASANSAAR
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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GST |
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Guidelines for recovery of outstanding dues, in cases wherein first appeal has been disposed of
Posted Date : 13-Jul-2024 , 08:40:42 am | Posted By: CASANSAAR
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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GST |
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Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)
Posted Date : 11-Jul-2024 , 07:29:47 am | Posted By: CASANSAAR
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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FEMA |
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Basel III Capital Regulations - Eligible Credit Rating Agencies (ECAI) - RBI
Posted Date : 11-Jul-2024 , 07:28:47 am | Posted By: CASANSAAR
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 |
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Release of foreign exchange for Miscellaneous Remittances - RBI
Posted Date : 03-Jul-2024 , 08:32:40 pm | Posted By: CASANSAAR
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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FEMA |
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Online submission of Form A2: Removal of limits on amount of remittance - RBI
Posted Date : 03-Jul-2024 , 08:31:34 pm | Posted By: CASANSAAR
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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FEMA |
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SEBI Master Circular for Electronic Gold Receipts (EGRs)
Posted Date : 25-Jun-2024 , 08:37:56 am | Posted By: CASANSAAR
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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SEBI |
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Priority Sector Lending – Amendments to the Master Directions - RBI
Posted Date : 22-Jun-2024 , 10:17:24 pm | Posted By: CASANSAAR
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 |
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Foreign Exchange Management (Overseas Investment) Directions, 2022 - Investments in Overseas Funds
Posted Date : 07-Jun-2024 , 09:12:38 pm | Posted By: CASANSAAR
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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FEMA |
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Amendment to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016
Posted Date : 07-Jun-2024 , 09:11:40 pm | Posted By: CASANSAAR
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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RBI |
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Uploading of KYC information by KYC Registration Agencies to Central KYC Records Registry - SEBI
Posted Date : 07-Jun-2024 , 10:20:04 am | Posted By: CASANSAAR
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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SEBI |
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Framework of “Financial Disincentives for Surveillance Related Lapses” at Market Infrastructure Institutions
Posted Date : 07-Jun-2024 , 10:16:38 am | Posted By: CASANSAAR
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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SEBI |
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RBI's Instructions on Money Changing Activities
Posted Date : 28-May-2024 , 09:08:36 am | Posted By: CASANSAAR
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 |
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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
Posted Date : 25-May-2024 , 08:36:00 pm | Posted By: CASANSAAR
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 |
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RBI Internal Review – Interim Recommendations – Withdrawal of Circulars
Posted Date : 22-May-2024 , 08:06:58 pm | Posted By: CASANSAAR
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 |
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Formation of new district in the State of Assam – Assignment of Lead Bank Responsibility
Posted Date : 18-May-2024 , 11:06:44 am | Posted By: CASANSAAR
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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RBI |
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Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024 - RBI
Posted Date : 11-May-2024 , 10:41:52 am | Posted By: CASANSAAR
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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RBI |
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Relaxation of additional fees and extension of last date of liling of LLP BEN-2 and LLP Form No. 4D
Posted Date : 09-May-2024 , 06:51:09 am | Posted By: CASANSAAR
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 |
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RBI Master Direction – Reserve Bank of India (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2024
Posted Date : 09-May-2024 , 06:47:31 am | Posted By: CASANSAAR
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 |
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Margin for Derivative Contracts - RBI
Posted Date : 09-May-2024 , 06:46:23 am | Posted By: CASANSAAR
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 |
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Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs)
Posted Date : 04-May-2024 , 07:41:57 am | Posted By: CASANSAAR
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 |
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RBI Master Direction – Risk Management and Inter-Bank Dealings: Amendments
Posted Date : 04-May-2024 , 07:41:02 am | Posted By: CASANSAAR
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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Category :
RBI |
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Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs)
Posted Date : 03-May-2024 , 08:14:56 pm | Posted By: CASANSAAR
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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Category :
RBI |
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Master Direction – Risk Management and Inter-Bank Dealings: Amendments
Posted Date : 03-May-2024 , 08:12:13 pm | Posted By: CASANSAAR
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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RBI |
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