Foreign Currency Accounts by Resident Individuals: Fifth Amendment
A new sub-regulation (CA) under Regulation 5 now permits Indian exporters to open, hold, and maintain Foreign Currency Accounts with banks outside India. This allows for greater control over their foreign exchange earnings and simplifies certain transactions.
Government of Tamil Nadu has announced the sale of 20 year securities
Government of Tamil Nadu has announced the sale of 20 year securities for Rs.2000 crore and 30 year securities for Rs.2000 crore in the form of Stock to the Public by auction. The auction will be conducted by the Reserve Bank of India at its Mumbai Office, Fort, Mumbai, on January 23, 2024.
IRDAI issues circular on Investments in National Bank for Financing Infrastructure and Development
The circular states that NaBFID has been officially established in India under the National Bank for Financing Infrastructure and Development Act of 2021. This institution aims to provide crucial support for the development of long-term non-recourse infrastructure financing in the country.
