RBI proposes new steps to promotion of digital payment
The RBI has issued a press release on November 8, 2019, which reports a phenomenal increase in E-payments in India, a substantial portion of which is through National Electronic Funds Transfer (NEFT) and Unified Payments Interface (UPI) and proposed new steps to further this.
The RBI has issued Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019
The RBI has issued Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019. The Regulations provides the mode for payment and remittance of sale proceeds for each Non-debt instruments issued in foreign exchange.
Incorporation of new para in the Foreign Trade Policy 2015-20 about cases referred to National Company Law Tribunal (NCLT)
A new para 2.15A has been inserted in chapter 2 of Foreign Trade Policy 2015-20 about the cases referred to the National Company Law Tribunal
Central government enlists Debt and Non-debt instruments under FEMA
The Ministry of Finance in its notification dated 16th October 2019, has enlisted an exhaustive list of Non Debt instruments. All other instruments are deemed to be Debt instruments. A non-exhaustive list of debt instruments has also been notified.
RBI issued directions on deposit by issue of commercial paper
The Reserve bank of India through its notification dated 16th August, 2019 has issued directions relating to accepting of deposit by issue of commercial paper. Regulation 6 speaks about acceptance of deposits by person other than authorised dealers /authorised bank. Sub regulation 3 of Regulation 6 specifies in what terms companies may accept deposit through […]
The union Cabinet approves proposal for review of FDI policy on various sectors
The Union Cabinet on 28th August, 2019 in its press conference has eased FDI Norms for coal mining, digital media, contract manufacturing and single brand retail sectors. The changes in FDI policy will result in making India a more attractive FDI destination, leading to benefits of increased investments, employment and growth.
Minister of commerce and industry at the Rajya Sabha explained present FDI inflow and policy
Piyush Goyal, he Minister of Commerce and Industry has given a written reply in the Rajya Sabha on 12 July 2019, clarifying the present FDI policy and structure in India. He adds that the government follows an investor friendly policy to attract foreign investors and to promote FDI and except for a small list of few sectors, all other sectors are made open for 100% FDI under the automatic route, for promotion of FDI.
DGFT takes action for Recovery of Penalties and Pending Appeals and Reviews
DGFT has directed all the Adjudicating Authorities in RAs and SEZs to take immediate action against all pending appeals, reviews and penalty recovery. As per the direction, all adjudicating authorities shall take action in the above matters within 30 days from the date of issuing of this notification.
100% FDI in Palm oil Plantation has been permitted
100% foreign investment under automatic route has been permitted for palm oil tree plantation since 24.11.2015. The Government is constantly taking various initiatives to boost investments which, inter-alia, include Make-in-India programme, measures to improve ease of doing business, facilitating Micro, Small and Medium Enterprises (MSME), reforms in the Foreign Direct Investment (FDI) Policy, etc. To […]
Extension of Due Date for FLA Return
Reserve Bank of India recently introduced a web based portal under the name Foreign Liabilities and Assets Information Reporting System (FLAIR) for online filing of Annual FLA Return from the financial year 2018-19 by replacing email based submission of FLA return vide its circular no. RBI/2018-19/226 A.P. (DIR Series) Circular No. 37 dated 28th June, […]
