Government seeks to permit 74% investment in defense sector through automatic route

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 Governor of Bihar notifies The Bihar Financial (Amendment) Rules, 2020

The Amendment Rules envisage the addition of a new provision, to the Bihar Financial Rules, 1950, that empowers the State Government to impose restrictions on procurement from bidders from specified countries. These restrictions are to …

RBI extends due date for filing annual return on Foreign Liabilities and Assets (FLA)

The Reserve Bank of India has extended the the due date for submission of annual return on Foreign Liabilities and Assets (FLA) for the year 2019-20 to August 14, 2020.

The Foreign Exchange Management (Mode of Payment and Reporting of NonDebt Instruments) (Amendment) Regulations, 2020

The RBI has amended the provisions governing investment by Foreign Portfolio Investors and by a person resident outside India in an Investment Vehicle.

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