Tag Archives: Reserve Bank of India

Sensitization of Authorized Dealers – Directions by the Reserve Bank of India

By Nitesh Tiwari, Associate  The Reserve Bank of India (“RBI”) has been empowered to compound offences defined in Section 13 of the Foreign Exchange Management Act, 1999 (“FEMA”). Compounding of offences under the FEMA refers to the process of voluntarily … Continue reading

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External Commercial Borrowings Policy – Inclusion of Hotel Sector

By Nitesh Tiwari, Associate The Reserve Bank of India (“RBI”) through its circular dated January 21, 2013 being circular number RBI/2012-13/387
A.P. (DIR Series) Circular No.78 (the “Circular”) has allowed companies in hotel sector to avail External Commercial Borrowings (“ECBs”) for … 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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Domestic Tariff Area Units can Pay in Foreign Exchange for Supplies and Services by Special Economic Zones – Reserve Bank of India

By Nitesh Tiwari, Associate The Reserve Bank of India (“RBI”) in pursuance of Section 10(4) and Section 11(1) of Foreign Exchange Management Act, 1999 (“FEMA”) issued a circular dated October 23, 2012 being Circular No. RBI/2012-13/259
A. P. (DIR Series) circular … Continue reading

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Migration from Internet Protocol Version 4 to Version 6

By Nitesh Tiwari, Associate  In May, 2012 the Government of India unveiled the National Telecom Policy, 2012 (“NTP”). The objectives of under the NTP are inter alia, “to provide affordable and reliable broadband-on-demand by the year 2015 and to achieve … Continue reading

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Mutual Funds Permitted to Participate in Credit Default Swaps

By Ruchika Ghosh, Associate In India, by a recent RBI Guideline of November 15, 2012, mutual funds have been permitted to participate in the Credit Default Swaps (“CDS”) Market. Mutual funds however can only:  Participate in the transactions as “users”. … Continue reading

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