RBI
Circulars
Guidelines on Money Changing Activities
Modified Reporting Mechanism for Shares FDI
No More Police NOC for Money Changers
Export Credit of US $30 mn to
Mozambique
Bank Guarantee Limit Raised to US
$500,000 for Service Importers
Garment Exports to get 2% Interest Rate Subvention
Interest
Subvention Scheme of 2.5 Percent on Export Credit Extended to 30 April 2010
Maldives Included as a Member of ACU
Opening of Diamond Dollar Accounts
Vostro Accounts of Non Resident Exchange Houses
Export Credit of US $10 mn to Djibouti
Person of India
Origin Allowed to Own Property in India
Foreigner in India Earn Operate Tax Paid Salary Account
outside India
RBI Allows Euro, GBP and Yen Trading
Export Credit of US $40 mn to
Tanzania
Cash Limit Enhanced to Rs. 7500 for Travel Abroad
Export Credit of US $36 mn to Mali
Export Credit of US $100 mn to
Russia
Limited Powers to Approve ECB Conditions given to ADs
Export Credit of US $15 mn to Mali
Online Reporting
System for Overseas Direct Investments from 2 March
RBI Extends ECB Facility to Cold Storage for Preservation of Agri and Marine Products
New Category of
Infrastructure Finance NBFC Announced without Restrictions of Government Source
New Norms for
Rupee Loans against Valuation Guarantee
Export Credit of USD 15mn
to Benin
Export Credit of USD 25mn
to Congo
Export Credit of US $50 mn to Zambia
Consortium for Submarine Cable System
Buyback
Provision of FCCB Restored
Exchange Rate
under USSR Deferred Payment Protocol
Exchange Rate under USSR
Deferred Payment Protocol
FII for Transactions in Cash Segment
Exchange Rate under USSR Deferred Payment Protocol
Revised Pricing Guidelines
on FDI in India
US $5,000 to Travellers
Proceeding to Iraq or Iran
ECBs at Above
50% Now will Need RBI Approval
Technology Transfer Remittances
Allowed without Limit by RBI w.e.f 16.12.2009
Export Credit of
US $30 mn to Sierra Leone
Beware of Fictitious
Offers for Forex Remittance, Says RBI
Rupee Value under
Indo-USSR Deferred Payment Protocol
Software Export Realisation Period Extended to 1 Year from 6 Months
Prevention of Money Laundering Rules 2005 Amended
Rupee
Export Credit Interest Rates
Compounding of
Contravention under FEMA 1999
No Write Off of Export
Proceeds Allowed in Drawback Cases – Drawback must be Surrendered
Take-out Financing through
ECB under Approval Route for Infrastructure Project
Rupee Value under
Indo-USSR Deferred Payment Protocols Revised to Rs. 60.8816 from 24 June 2010
One
More Year of Interest Rate Subsidy of 2% for Labour
Oriented Small Scale Export Sector
ECB Beyond 100mn for Hotels, Hospitals and Software
Guidelines on Trading of
Currency Options
Ready
Forward Contracts in Corporate Debt Securities
Export Credit of US $21.72
mn to Ghana
Export Credit of US $21.80
mn to Mauritania
Exchange Control Guidelines for Online Payment Gateways and
Export Proceeds Realization
Reporting Mechanism of Branches Dealing in Foreign Exchange
Money Laundering in Forex
Operations - I
Money Laundering in Forex
Operations - II
Money Laundering in Forex
Operations – I
Money Laundering in Forex
Operations – II
Export Credit of US $72.55
mn to Laos
Payment for Import of Oil or Gas Settled in ACU Mechanism
Indo-Iran Trade through ACU Mechanism
Comprehensive Guidelines on OTC Foreign Exchange Derivative
Trading of Currency Options Contracts
Software Export Value Realisation Extended upto 30
September 2011
RBI Introduces Annual
Return on Foreign Liabilities and Assets
Exim Credit of US$100 mn to EBID
Exim Credit of US$50 mn to Malawi\
No Permission for Forex Trading
Overseas
Cross Border Inward Remittance under Money Transfer Service
Scheme
FII Investment Limit in
Infrastructure Raised
Advance Remittance for Import of Goods Doubled against
Guarantee
RBI Liberalises NRI FDI to Allow
Leveraging
RBI Permission
not Required for Opening Non Interest Bearing Escrow
Accounts in INR in India
Trade Credit of Diamond LCs Revised
to Maximum 90 days
Guidelines for OTC Trading
in Forex Derivatives
Forex Derivative Contract Limit Raised to
10% from 2%
Foreign
Currency-Rupee Swaps for Hedging IPO
Opening NRO Accounts by Foreign Nationals
Export
Credit of US$ 36.56 mn to Tanzania
Export
Credit of US$ 91 mn to Ethiopia
RBI Extends Time Limit for Applications for Buyback of FCCBs
by Indian Companies
Redemption of Foreign
Currency Convertible Bonds (FCCBs)
RBI Permits Issue of Equity Shares for Capital Goods Imports
against FDI in Govt. Route
RBI Permission Must for Foreign Entities
Branch Offices Established in India in Pre-FEMA Period
Rupee Contracts Hedging
Allowed to NRIs
Export Credit of USD 5 mn to Zambia
Export Credit of US$20mn to Swaziland
Export Credit of US$20mn to Mozambique
Export Credit of US$ 4 mn
to Guyana
Rupee Remittances Allowed
from Malaysia
Deferred Payment Protocols between India and Erstwhile USSR
RBI Delegates Power of Change in Lender Approval to Dealers
RBI Permits Resident can
include NRI Relative to their Saving Bank Account as Joint Holder
NRIs can Open Joint NRE
Account with Close Relative in India
Security Transfer by Way
of Gift Enhanced to US$50,000 per Year
Operating Joint Account in
EEFC/RFC Bank Accounts on ‘Former or Survivor’ Basis
FII into NRE/FCNR Accounts
Facility Extended to NRIs also
RBI Permits Resident
Individuals can Make Rupee Gifts to NRI by way of Cross Cheque
or E- Transfer
RBI Permits Resident
Individuals to Lend a Loan to NRI
Repayment of
Loans of Nonresident Close Relatives by Residents
Money Laundering Risks
with Bolivia, Cuba, Sri Lanka and Others
Indian Agents under Money
Transfer Service Scheme
Money Laundering – Clients
Jurisdiction and Verification Must
Money Laundering – Cross
Border Inward Remittance under Money Transfer Service Scheme
One Quarter of ECB can be Utilized
for Repayment of Rupee Loan by Infrastructure Sectors
Infrastructure Cos. can Import Capital Goods on ‘Bridge
Finance’
Enhancement of ECB Limit under Automatic Route
Structured Obligations for Infrastructure Sectors under ECB
Policy
Guidelines for Foreign Equity Holders under Automatic Route
RBI Permits to Open Nostro Accounts
in Renminbi by Authorised Dealer
Banks to Get
2% Subsidy on Export Credit to SMEs, Handicrafts, Handlooms and Carpets
RBI Issues Revised Guidelines on Money Changing Activities
Export Credit of US$ 27.50 mn to
Senegal
RBI Increases Transaction Value to USD3000 for Online Payment
for Exports
RBI Permits FCNR Accounts in any Freely Convertible Currency
Clarification on Repatriation of Assets to India by NRIs
No Rupees in Customs Area - Forex
Counters in International Airports to be Compliant by End of Year
Software Export Realisation Period Extended to 1 Year
No Compulsion on Money Changers to Locate Offices in Non
Metro Centres
FIIs can Invest in Infrastructure
NBFCs
Guidelines on Transfer of Shares in FDI Cases
LIBOR plus Ceiling for Trade Credits Raised by 150 bps to 350
bps
RBI Alert on Online Forex Trading
based on Forex Balances
“Set-off” of Export Receivables against Import Payables for
same Buyer and Supplier
GR Declaration for Mid-Sea Trans-shipment of Fish Catches
ECB for Rupee Expenditure not to be Used
for Security Trading
LIBOR Plus Ceiling for ECB Raised by
50 bps to 350 bps
RBI Removes Swap Transaction Limit of US$100 mn
RBI Allows Investment on Repatriation Basis by Eligible
Non-Resident Investors
Equity
Shares Issue by Conversion of Machinery Investment under FDI under Government
Route
Compounding of Delay Contraventions under FEMA, 1999
RBI
Tightens Forex Forward Contracts Transactions
RBI Puts Breaks on Currency Trading in Forwards
Micro
Finance Cos Allowed to Borrow $10 mn on ECB Automatic
Route
Foreign Tourists can Change Money on the Basis of Passport
Copy and Indian Immigration Stamp Visa
Export Credit of US$40mn to Maldives
Export Credit of US$168mn to Congo
RBI Allows Hedging of Rupee ECBs to NRIs
Maturity Period Revised on ECB Limit under Automatic Route
ADs must Accept Forwarder’s Cargo Receipts Issued by IATA Agents
for Goods and Services Exports
Guidelines for undertaking Commodity Hedging Transactions in
International Commodity Exchange
RBI Notifies 100 percent FDI in
Single Brand Retail
RBI Issues Directions for
QFI Investments in Indian Companies and Single-Brand Retail Trading
Banks should Certify Leverage Ratio of IFCs Availing ECBs
under Approval Route
External Commercial
Borrowings – Simplification of Procedure
AD Banks Format
for Fortnightly Balances in Diamond Dollar Accounts
Rupee Value under Indo-USSR Deferred Payment Protocol Revised
to Rs. 71.456679 from 20 January 2012
RBI Simplifies Procedure
of ECB
RBI Warns Banks to Stop Iran, China, Pak and the like from
Opening India Office
RBI Simplifies Procedure of Softex
for Large Exporters – STPI to Certify Excel Sheets
Money Laundering Filters for Indian Agents to Money Transfer
(MT) Agencies
RBI Cautions Dealers on Iran for Terrorist Financing Checks