Tag Archives: RBI

Liberalised Remittance Scheme: RBI reduces limit from USD 200,000 to USD 75,000

By Amit Das, Associate The Reserve Bank of India (“the RBI”), vide Circular No. RBI/2013-14/181 dated August 14, 2013, issued guidelines with regard to the Liberalised Remittance Scheme (“LRS”) for Resident Individuals (“the Scheme”) to all Category-I Authorised Dealer Banks … Continue reading

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RBI Sets Out Conditions for Scheduled UCBs to Undertake Repo Transactions in Corporate Bonds

By Ushasi Das, Associate The Reserve Bank of India, in its Second Quarter Review of Monetary Policy 2012-13, had announced the inclusion of scheduled urban cooperative banks (“UCBs”) with strong financials and sound risk management practices as eligible participants to … Continue reading

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Banks To Audit/Re-Verify Title Deeds Periodically Till Loan Repayment, says RBI

By Ushasi Das, Associate  The Reserve Bank of India, vide its circular dated June 7, 2013 directed banks to ensure that title deeds and other documents in respect of all credit exposures of INR 5 crore and above are subjected to periodic … Continue reading

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RBI Amends Provisions on Issue of Shares for Import of Capital Goods

By Naren BS, Senior Associate The Reserve Bank of India (“RBI“) had issued a circular (“Circular“) dated June 30, 2011 amending the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (“FEMA 20“) … Continue reading

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RBI Issues New guidelines for Issuance of Debit Cards

By Abhishek Kisku, Associate Prior to the Second Quarter Review of the Monetary Policy 2012-13 by the Reserve Bank of India (“RBI”) which was announced on October 30, 2012, banks were not allowed to enter into any direct or indirect … Continue reading

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RBI Issues Core Investment Companies – Overseas Investment (Reserve Bank) Directions, 2012

By Rudrajyoti N. Ray, Associate  Paragraph 2(b) of the Circular DNBS (PD) CC. No. 206/03.10.001/2010-11 dated January 5, 2011 defines a Core Investment Company (“CIC”) as “a non-banking financial company carrying on the business of acquisition of shares and securities and which satisfies … Continue reading

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