Foreign Liabilities And Assets Information Reporting System (FLAIR)
Reserve Bank of India has introduced a web based portal under the name Foreign Liabilities and Assets Information Reporting System (FLAIR) for filing Annual FLA Return starting from the financial year 2018-19 by replacing the present email-based reporting system. FLA return is due by 15th July. All reporting entities will have to register on the portal to be able to submit the FLA return. For submission of earlier year returns permission of RBI will be needed.
Relaxed Norms for opening of FPI, FVCI and NRO accounts
RBI has released a circular on 28th March, 2019 to all Category – I Authorised Dealers (ADs) regarding the changed norms for opening of accounts by foreign portfolio investors (FPIs) and foreign venture capital investors (FVCIs), and opening of non-resident ordinary (NRO) account by long-term visa (LTV) holders. Following instructions have been given to Authorised […]
RBI approval not required for branch office if approval obtained from Government/ Ministry/ Regulator
RBI has issued directions to all the Authorised Dealer (AD – Category I) vide notification dated March 28, 2019 under Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2016. It has been advised to ADs that for opening of […]
RBI notifies Foreign Exchange Management (Borrowing and Lending) Regulations, 2018
The Reserve Bank of India has notified the new FEMA (Borrowing and Lending) Regulations on 17th December, 2018, to regulate borrowing and lending transactions between a person resident in India and a person resident outside India. RBI has come up with these regulations to cope up with the changing dynamics of the economy. Regulation 3 […]
