Foreign Exchange Management Act Current Affairs, GK & News
The economic liberalization in India refers to the economic liberalization of the country’s economic policies, initiated in 1991 with the goal of making the economy more market-oriented and service-oriented, and expanding the role of private and foreign investment. The basic aim of liberalization was to put an end to those restrictions which became hindrances in ..
Topics: Banking in India • Economic liberalisation in India • Economic liberalization • Economy • Economy of India • Foreign Exchange Management Act • Liberalization • Narasimham Committee on Banking Sector Reforms • Trade policy of South Korea
RBI has permitted Reinsurance brokers to open non interest bearing foreign currency accounts with banks for undertaking transactions. Earlier, the Insurance Regulatory and Development Authority of India (IRDAI) had issued notification and then RBI issued Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 – Opening of Foreign Currency Accounts by ..
Topics: Bank • Broker • Economy • Finance • Foreign Exchange Management Act • Insurance • Insurance In India • Insurance regulation • Insurance Regulatory and Development Authority • Legality of bitcoin by country or territory • Money
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 period of 60 days has expired. The accounts of the Greenpeace India were frozen on ..
Topics: DDIIPL • Direct Dialogue Initiatives India Pvt Ltd • ED • Enforcement Directorate • Environmental conservation • FEMA • Foreign Exchange Management Act • Greenpeace India • Karnataka High Court
The Reserve Bank of India (RBI) has slapped a fine on five foreign banks, namely, Deutsche Bank, Standard Chartered Bank, Bank of America, Bank of Tokyo Mitsubishi and The Royal Bank of Scotland for violating reporting requirements of the Foreign Exchange Management Act, 1999 (FEMA). Germany’s Deutsche Bank has been imposed a fine of Rs ..
Topics: Bank of America • Banks • British brands • Companies • Deutsche Bank • Finance • Foreign Exchange Management Act • Foreign trade of India • Primary dealers • Reserve Bank of India • Standard Chartered • The Bank of Tokyo