Amendment in FEMA Rules for LIC

The rules of the Foreign Exchange Management Act (FEMA) have been amended by the government to pave way for up to 20 per cent of foreign direct investment (FDI) in the Life Insurance Corporation of India (LIC). The central government ..



Karnataka High Court quashes ED freeze on Greenpeace Bank Accounts

The Karnataka High Court has quashed the order of Enforcement Directorate (ED) which froze the bank accounts of Greenpeace India. The court noted that the validity of the ED order has lost its efficacy on account of efflux of time as the ..


RBI tightens reporting norms for Liberalised Remittance Scheme

The Reserve Bank of India (RBI) has tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which individual can transfer up to US $2,50,000 abroad in a year. The purpose of tightening of norms is to improve monitoring and ..


RBI eases FEMA norms to spur investment from overseas

The Reserve Bank of India (RBI) has simplified Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations to make it easier for foreign investors to invest in the country. It was done by putting ..


RBI prohibits investments in non-cooperative countries and territories

The Reserve Bank of India (RBI) has prohibited Indian entities from making direct investments in any entity located in Non-Cooperative Countries and Territories (NCCT) as identified by Financial Action Task Force (FATF). The prohibition is for aligning instructions under FEMA ..


Wal-Mart gets clean chit in FEMA case

World’s largest supermarket chain Wal-Mart, got a clean chit from ED (Enforcement Directorate) in the FEMA (Foreign Exchange Management Act) violation case. Why a clean chit to Wal-Mart in FEMA Case? Since Government has allowed FDI in multi-brand retail and also made ..