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  • <<<Updates/News>>>

    RBI Vide circular no 98 dated 14th May, 2015 has clarified that A2 Formis required to be submitted at the time of purchasing foreign exchangeand is not applicable while remitting FCNR(B) Funds. Read More.RBI Vide circular no 101 dated 14th May, 2015 has dispensed with therequirement of declaring the export of Goods/ Software in the SDF incase exports taking place through EDI ports. Read More.RBI vide circular no 103 dated 21th May, 2015 allowed a Non Resident ECB lender who lends in INR to Indian entities to enter into swap transactions with their overseas bank which shall, in turn, enter into a back-to-back swap transaction with any Authorised Dealer in India as per the procedure provided. Read More.RBI vide circular no 106 dated 1st June, 2015 has permitted Authorised Dealer to allow remittances by a resident individual up to USD 250,000 per financial year for any permitted current or capital account transaction or a combination of both. Read More.RBI Vide circular no 107 dated 11th June, 2015 allowed Non-Resident Indians (NRIs) to subscribe to the chit funds in India, without limit, on non-repatriation basis subject to the certain conditions (earlier no person resident outside India shall make investment in India, in any form, in a company or partnership firm or proprietary concern or any entity, whether incorporated or not, which is engaged or proposes to engage “in the business of chit fund). Read More.RBI Vide circular no 108 dated 11th June, 2015 allowed continuing the Scheme for raising External Commercial Borrowings (ECB) by eligible borrowers for low cost affordable housing projects for the financial year 2015-16 with the same terms and conditions. Read More.RBI Vide circular no 109 dated 11th June, 2015 decided that the scheme of raising ECB for working capital for Civil Aviation Sector will continue till March 31, 2016. (earlier it was extended till 31st March,2015). Read More.RBI vide circular no 112 dated 15th June, 2015 allowed authroised dealers to borrow from international / multilateral financial institutions without approaching Reserve Bank for a case by case approval. These shall include International / Multilateral Financial Institutions of which Government of India is a shareholding member or which have been established by more than one government or have shareholding by more than one government and other international organizations.Read More.RBI Vide Circular no 1 dated 2nd July, 2015 allowed Re Export of unsold Diamonds imported free of cost at SNZ without EDF facility. Read More.RBI Vide Circular no 2 dated 3nd July, 2015 clarified that manufacturing of cigars, cheroots, etc is prohibited and FDI in other activities like wholesale cash and carry, retail trading etc are governed by respective sectoral regulations. Read More.