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.

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

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, …

Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 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.

MHA permits certain categories of OCI cardholders to visit India

The Ministry of Home Affairs vide its Notification dated 22nd May 2020 has permitted certain category OCI cardholders abroad to come to India.

Foreign Exchange Management (Non-debt Instruments) Rules, 2020 get amendment

Ministry of Finance via notification dated 27th April, 2020 has published The Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2020. The amendment has allowed 100% investment in the Non-debt instruments of intermediaries through automatic …

Foreign Exchange Management (Non-debt Instruments) Rules Amended to prevent opportunistic takeover of domestic firms

The Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2020 in which it has made it mandatory that foreign investments from countries that share a land border with India to obtain prior approval from the government …

RBI announces further measures for dealing with the COVID-19 pandemic

Reserve bank of India vide press release dated April 1, 2020, has issued further measures to help the state governments as well as exporters to combat the Covid 19 pandemic outbreak.

RBI raises investment limit for foreign portfolio investor’s investment in debt.

The Reserve Bank of India vide notification dated 23rd January 2020 has raised the investment limit for FPIs investment through the Voluntary Retention Route. Only those FPI registered with SEBI are eligible to participate in …

RBI permits Authorized Dealers Category – I banks to voluntarily undertake user and Inter-Bank transactions beyond onshore market hours.

The Reserve Bank of India(RBI) has vide Notification dated January 6, 2020, has issued amendment to Master Direction on Risk Management and Inter Bank Dealings. The amendment seeks to Permit Authorized Dealers Category – I …

RBI allows Financial Institutions to Conduct Business in Indian National Rupee in IFSC.

The Reserve bank of India vide Foreign Exchange Management (International Financial Services Centre) (Amendment) Regulations, 2020 permits the financial institutions or a branch of a financial institution to, with express permission of RBI, conduct such …

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