Category: FEMA

The new rates shall be in force with effect from 3rd December, 2021.

An Indian Insurance company having foreign investment shall comply with the provisions under the Indian Insurance Companies (Foreign Investment) Rules, 2015.

The Rules provides the procedure for Overseas Investment, Overseas Direct Investment and Overseas Portfolio Investment.

Any sponsor contribution from a sponsor IP to an Alternative Investment Fund (AIF) set up in an overseas jurisdiction, including International Financial Services Centres (IFSCs) in India, as per the laws of the host jurisdiction, …

Read More "Sponsor Contribution to an overseas AIF shall qualify as ODI"

The Adjudication, review and appeal proceedings related to any violations of DGFT Schemes, Foreign Trade policies, procedures and orders shall be initiated and conducted online. Exporters shall submit all documents online through DGFT website.

Issue of shares without approval of RBI or Government, Receiving investment in India from non-resident or taking on record transfer of shares by Investee Company etc. shall now be compounded by Regional Offices/ Sub Offices …

Read More "RBI delegates power to compound certain contraventions to Regional Offices/ Sub Offices"

It has been decided to discontinue the requirement to file 17 returns/reports as listed in the notification.

The government seeks to allow 74% investment through automatic route in the defense sector. This shall come into force once the FEMA notification is published.

The Amendment Regulations insert a new Regulation 9, empowering RBI to permit export or import of Indian currency, as an independent regulation. Prior to this amendment the said provision existed as a mere proviso. Therefore, …

Read More "RBI notifies the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2020"

The amendment empowers the RBI to issue such directions, circulars, instructions, clarifications necessary for effective implementation of the provisions of these rules, without consulting the central government.