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Joint Home Loan EMIs: Shared Responsibility, Shared Benefits
When taking out a joint home loan, both borrowers are equally responsible for making the EMI payments. This shared financial commitment ensures that the loan is repaid on time, protecting the borrowers’ credit scores and enabling them to build equit…
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RBI Intensifies Regulatory Measures to Curb Evergreening of NPAs via AIF Invest…
The Reserve Bank of India (RBI) has issued stringent regulatory measures to address the potential evergreening of Non-Performing Assets (NPAs) by lenders through investments in Alternative Investment Funds (AIFs). The central bank aims to prevent th…
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RBI Circular: New Guidelines for NBFCs and HFCs on Credit and Investment Concen…
The Reserve Bank of India (RBI) has issued a circular dated January 15, 2024, introducing new guidelines on credit and investment concentration norms for Non-Banking Financial Companies (NBFCs), including Housing Finance Companies (HFCs). The circul…
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RBI Implements Stringent Guidelines to Address Evergreening in AIF Investments …
The Reserve Bank of India (RBI) has issued guidelines aimed at addressing the practice of “evergreening” in Alternative Investment Funds (AIFs) by Banks and Non-banking Financial Companies (NBFCs). Evergreening involves concealing the true extent of…
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Regulatory Challenges in Downstream Investments by Foreign-Owned or Controlled …
The presentation addresses the regulatory hurdles in downstream investments in India, particularly focusing on the treatment of investments originating from Foreign Owned and Controlled Companies (FOCCs) under the Foreign Exchange Management Act, 19…
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RBI Circular RBI/2023-24/90: Guidelines for AIF Investments by Regulated Entiti…
The Reserve Bank of India (RBI) issued circular no. RBI/2023-24/90 on December 19, 2023, to address concerns related to investments in Alternative Investment Funds (AIFs) by regulated entities (REs). The circular aims to prevent evergreening practic…
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RBI Circular Addresses Risks in Alternative Investment Fund (AIF) Transactions
The Reserve Bank of India (RBI) has issued circular RBI/2023-24/90 on December 19, 2023, to address concerns related to investments in Alternative Investment Funds (AIFs) by regulated entities (REs). The circular provides guidelines to mitigate pote…
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RBI Issues Circular on Investments in Alternative Investment Funds (AIFs)
The Reserve Bank of India (RBI) has issued a circular, DOR.STR.REC.85/21.04.048/2023-24, addressing concerns regarding investments in Alternative Investment Funds (AIFs) by regulated entities. The circular provides detailed provisions and implicatio…
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Its ED (and not RBI) who compounds the contraventions occurring in foreign exch…
Here are the valuable insights into the process of compounding contraventions under the Foreign Exchange Management Act (FEMA) and the role of the Enforcement Directorate (ED) in this process. You will read about the compounding provisions of FEMA, …
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Client Suitability Questionnaire: Enhancing Financial Planning Through Insightf…
The provided questionnaire is designed to assist aspiring financial planners in evaluating client suitability for various investment strategies by understanding their lifestyles and interests. By asking the right questions, financial planners can ga…
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Understanding IRAs: A Comprehensive Guide to Retirement Savings
This comprehensive guide provides essential information on Individual Retirement Accounts (IRAs), offering insights into the various types of IRAs, their tax advantages, investment strategies, and considerations for choosing the right IRA provider. …
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Essential Tips for Maximizing Your Retirement Savings
Planning for retirement early ensures a secure and comfortable future. Yet, nearly half of Americans find themselves without any retirement savings. This startling statistic underscores the need for proactive financial strategies and planning. Here …
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Ministry of Finance Allows NABARD to Voluntarily Perform Aadhaar Authentication…
RBI, FEMA & BANKING,Apr. 04, 2024The Ministry of Finance has issued a notification allowing the National Bank for Agriculture and Rural Development (NABARD) to voluntarily perform Aadhaar authentication for residents applying for agricultural loans through their portal. This initiative aims to streamline and expedite the loan application process, ensuring efficient delivery of financial services to the agricultural sector. NABARD, while performing Aadhaar authentication, is requir…
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New NPS Rule: Two-Factor Aadhaar Authentication for National Pension System Acc…
RBI, FEMA & BANKING,Apr. 04, 2024The Pension Fund Regulatory and Development Authority (PFRDA) has introduced a new security layer, two-factor Aadhaar-based authentication, for all password-based users logging into the Central Record-keeping Agency (CRA) system of the National Pension System (NPS) starting from April 1, 2024. This additional security feature aims to enhance the protection of NPS transactions and safeguard the interests of subscribers and stakeholders.
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Understanding the Process of Transferring NRO Account Money Out of India for NR…
RBI, FEMA & BANKING,Apr. 02, 2024The article discusses the process of transferring money from Non-Resident Ordinary (NRO) accounts for Non-Resident Indians (NRIs) out of India. It highlights the differences between NRE and NRO accounts, the rules and regulations governing the transfer of funds, the role of the Reserve Bank of India (RBI), the source of funds, the need for RBI approval, payment of taxes and TDS, required documents, and the time and limits associated with remittance…
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Navigating the Acquisition and Transfer of Immovable Property in India: A Guide…
RBI, FEMA & BANKING,Apr. 01, 2024Investing in India’s real estate market holds a strong appeal for Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). However, navigating the acquisition and transfer of immovable property in India can be a complex endeavor, given the regulatory framework of the Foreign Exchange Management Act (FEMA). This article addresses frequently asked questions (FAQs) regarding the rules and restrictions governing the purchase of immovable prop…
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Key Considerations for Transferring Funds from NRO Account as an NRI
RBI, FEMA & BANKING,Mar. 23, 2024The process of transferring funds from an NRO (Non-Resident Ordinary) account as an NRI involves specific rules and compliance measures. The maximum amount that can be transferred from an NRO account depends on the source of funding, with a cap of $1 million per fiscal year for non-current income. However, there are no restrictions on remitting current income from an NRO account.
Rules and Process for NRI to Transfer Money from NRO Account Out of India
This is a comprehensive guide for Non-Resident Indians (NRIs) on the rules and process for transferring money from their Non-Resident Ordinary (NRO) account out of India. It covers the source of funds, RBI approval requirements, payment of taxes and TDS, necessary documents, evidence of source of funds, and the time taken for remittance. Additionally, it explains how the limit on remittance out of the NRO account is calculated for a financial year …
RBI, FEMA & BANKING,Mar. 23, 2024-
NRI Selling Property in India: Understanding Bank Account and Tax Compliance
RBI, FEMA & BANKING,Mar. 23, 2024This guide simplifies the essential steps for Non-Resident Indians (NRIs) selling property in India, focusing on opening an NRO (Non-Resident Ordinary) account and obtaining the required Certificate of Tax Compliance (Form 15CA/15CB) to ensure smooth property transactions while adhering to Reserve Bank of India (RBI) regulations.
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RBI Rejects NRIs’ Requests to Transfer Inheritance, Impacting Inheritance Plann…
RBI, FEMA & BANKING,Mar. 23, 2024The Reserve Bank of India (RBI) has tightened regulations, impacting non-resident Indians (NRIs) and persons of Indian origin (PIOs) who seek to transfer inheritance from India. Requests to move money from banks and sell inherited assets above the $1 million allowed limit per financial year have reportedly been rejected, causing hardship and limiting inheritance planning for some individuals. The central bank’s rejection of these requests has led t…
Understanding the $1 Million Dollar Scheme for Repatriation of Funds from India…
RBI, FEMA & BANKING,Mar. 23, 2024The $1 Million Dollar Scheme, formulated by the Reserve Bank of India (RBI) under the FEMA Regulations, serves as a pivotal avenue for the repatriation of funds exclusively for Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), Overseas Citizens of India (OCIs), and Foreign Nationals. This scheme outlines a framework for the seamless transfer of Indian assets amounting to $1 million, approximately 8.3 crores in Indian rupees as of Februa…
Expert Committee Submits Report on Onshoring Indian Innovation to GIFT IFSC
The Committee of Experts to ‘Onshore the Indian Innovation to GIFT IFSC’ submitted its report to the International Financial Services Centres Authority (IFSCA) on August 14, 2023. The report focuses on understanding the reasons for the shifting of Indian startups outside India and suggests measures to avoid externalization of startups in the future. It also aims to persuade startups that are presently externalized to redomicile back to India. The r…
RBI, FEMA & BANKING,Mar. 22, 2024-
RBI, FEMA & BANKING , Jan. 20. 2024Closing Bank Fixed Deposits: A Complete Guide
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RBI, FEMA & BANKING , Jan. 24. 2024
RBI Raises Mutual Fund E-Mandate Limit Without AFA to Rs 1 Lakh
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RBI, FEMA & BANKING , Jan. 20. 2024
IndusInd Bank Launches India’s First Rupay Credit Card with UPI Integration and…
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RBI, FEMA & BANKING , Jan. 20. 2024
Preventing and Reporting Aadhaar-Enabled Payment System (AePS) Fraud
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RBI, FEMA & BANKING , Jan. 12. 2024
UCO Bank ordered to pay Rs 10 Lakh to customer for Jewellery Loss from Bank Loc…
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