RBI Update - Release of foreign exchange for Miscellaneous Remittances
It is now decided that Authorised Dealers shall obtain Form A2 in physical or digital form for all cross-border remittances irrespective of the value of transaction. Consequently, the above-mentioned circulars stand with…
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RBI Update - Online submission of Form A2: Removal of limits on amount of remittance
It is now decided to permit all Authorised Dealers (AD Category-I banks and AD Category-II entities) to facilitate remittances on the basis of online / physical submission of Form A2 and other related documents, if and a…
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RBI Update - Priority Sector Lending – Amendments to the Master Directions
Please refer to Master Directions (MD) on Priority Sector Lending (PSL) dated September 04, 2020 as updated from time to time. The following paras of the Directions stand amended in view of factors detailed thereunder. …
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RBI Update - International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for settlement of trade transactions
Authorised Dealer Category – I (AD Category – I) banks is invited to FED Circular No. 08 dated November 17, 2023, in terms of which, AD Category-I banks maintaining Special Rupee Vostro Account vide A.P. (DIR Series) Cir…
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RBI Update - Foreign Exchange Management (Overseas Investment) Directions, 2022 - Investments in Overseas Funds
The following amendments are carried out in the Foreign Exchange Management (Overseas Investment) Directions, 2022: (a) Existing Paragraph 1(ix)(e) of FEM (OI) Directions, 2022 is replaced with the following: “…
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RBI Update - Amendment to Master Direction - Reserve Bank of India (Interest Rate on Deposits) Directions, 2016
It has been decided to revise the definition of bulk deposits for all Scheduled Commercial Banks (excluding RRBs), Small Finance Banks and Local Area Banks. The term “Bulk Deposit” would now mean: Single Rupee ter…
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RBI Update - Instructions on Money Changing Activities
Full Fledged Money Changers (FFMCs)/non-bank Authorised Dealers (ADs) Category-II may obtain their normal business requirements of foreign currency notes from other FFMCs and Authorised Dealers (ADs) in India. Further, t…
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RBI Update - Internal Review – Interim Recommendations – Withdrawal of Circulars
The following circular has been withdrawn: S. No. Circular No. Date Subject 1 DOS.No.BC.2/16.13.100/95 March 22, 1995 Meeting of Compliance Officers 2 DOS.No.BC.24/08.91.021/96 December 30, 1996 Internal Organisatio…
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RBI Update - Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024
RBI has issued the circular for the Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024They shall come into force with effect from the date of their publication in the Official Gazette. Amendm…
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RBI Update - Margin for Derivative Contracts
RBI has issued Directions shall be called the Reserve Bank of India (Margin for Derivative Contracts) Directions, 2024. Authorised Dealers may: (i) Post and collect margin, in India and outside India, for a per…
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