Closing a Foreign Currency Non-Resident [Bank] [FCNR(B)] deposit in India is governed by RBI’s FCNR(B) Scheme and bank-specific policies, with distinct rules for premature closure, closure at maturity, repatriation, and treatment upon return to India for permanent settlement. The key principles are: premature closure is permitted with penalties and, if closed before one year, no…
The Union Cabinet has approved the Credit Guarantee Scheme for Exporters (CGSE), authorising the National Credit Guarantee Trustee Company Limited (NCGTC) to extend 100% credit guarantee coverage to Member Lending Institutions (MLIs) for additional credit facilities of up to ₹20,000 crore to eligible exporters, including those in the MSME segment. The scheme is expected to…
India’s central bank has amended the export regulations under FEMA to give exporters more time to realise proceeds and fulfil shipment commitments amid global trade disruptions that have delayed payments and logistics, thereby easing short‑term cash‑flow pressures on firms engaged in goods, software, and services exports. The changes are designed to mitigate the impact of…
*( Ref: RBI Circular No. RBI/2025-26/96/DOR.STR.REC.60/21.04.048/2025-26 dated November 14, 2025) The Reserve Bank of India has issued the RBI (Trade Relief Measures) Directions, 2025 to ease debt-servicing pressures for export-oriented borrowers affected by global trade disruptions. The framework, which applies with immediate effect, enables regulated entities to offer (i) a time-bound moratorium or deferment on…
The Reserve Bank of India has issued the Reserve Bank of India (Trade Relief Measures) Directions, 2025, through a notification dated November 14, 2025. These measures are designed to ease day-to-day challenges in cross-border trade and simplify foreign exchange (FX) processes for exporters, importers, merchanting traders, and Authorized Dealer (AD) banks. They also build on…
Bank Holidays list of Himachal Pradesh for the year 2026. Source: Government of Himachal Pradesh, General Administration Department, Notification No. GAD-A(F)10-8/2025 dated 23.10.2025. Date Day Occasion 26 January 2026 Monday Republic Day 01 February 2026 Sunday Guru Ravidas’s Birthday 15 February 2026 Sunday Maha Shivaratri 03 March 2026 Tuesday Holi 21 March 2026 Saturday Eid…
The Karnataka Cabinet approved Thursday (13 November 2025) the list of public holidays for the 2026 calendar year. The following are the public (bank) holidays for Karnataka in 2026, declared under the explanation of Section 25 of the Negotiable Instruments Act, 1881. Karnataka Bank Holidays 2026 Date Day Holiday January 14 Wednesday Makara Sankranti January 26…
As per Government of Kerala Notification No. 3845 — Holidays declared under the Negotiable Instruments Act, 1881. Date Day Holiday 2 Jan 2026 Friday Mannam Jayanthi 26 Jan 2026 Monday Republic Day 20 Mar 2026 Friday Ramzan (Id-Ul-Fitr) 1 Apr 2026 Wednesday Annual Closing of Accounts 2 Apr 2026 Thursday Maundy Thursday 3 Apr 2026…
The ODISHA State Government notified the list of official Holidays for the year 2026. (The list of bank holidays as per Order No. RDM Reg. OLA 0032 2025 40367 dated 27.10.2025) Date Day Holiday 14 Jan 2026 Wednesday Makara Sankranti 23 Jan 2026 Friday Vasant Panchami 26 Jan 2026 Monday Republic Day 15 Feb 2026…
The Reserve Bank of India has issued standardized directions permitting loans against silver jewellery and specified silver coins, aligning silver with gold for collateralized retail lending; these directions are titled the Reserve Bank of India (Lending Against Gold and Silver Collateral) Directions, 2025 and are slated to take effect from April 1, 2026, with detailed…
