Govt. orders cutoms to allow Auto LEO under ECCS to ensure ease of doing exports

Central Board of indirect revenue and customs, Ministry of Finance in its letter dated September 7, 2020, asked the Principal Chief Commissioner and Chief Commissioner to allow the facility of Auto Let Export Order (LEO) under the Express Cargo Clearance System (ECCS), in order to facilitate exports by courier and to enhance the global competitiveness…

Integrated Treasury operation in Banks explained

The treasury management (or treasury operations) can be explained as the management of the best possible use of surplus funds, maintain liquidity, reduce the overall cost of funds, and mitigate operational and financial risk. Traditionally, banks used to have two separate departments for treasury operations of a bank namely the domestic treasury/investment operations of a…

Hereafter participants can settle the ACU transactions in ACU Dollar or ACU Euro or in ACU Japanese Yen

In the settlement system under the Asian Clearing Union (ACU) Mechanism, all instruments of payments are required to be denominated in Asian Monetary Unit. The Asian Monetary Unit is the common unit of account of ACU and is equivalent in value to one U.S.Dollar. Hitherto, the Asian Monetary Unit was denominated only as ACU dollar.[…

Who is an FVCI?

FVCI stands acronym for Foreign Venture Capital Investor’ (FVCI).  FVCIs are investors incorporated and established outside India and registered with the Securities and Exchange Board of India under the Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations, 2000. They can make an investment in India in terms of schedule 7 of FEMA…

What is meant by Foreign Investment, Foreign Direct Investment, and Foreign Portfolio Investment?

This article distinguishes amongst foreign investment, Foreign Direct Investment, Foreign Portfolio investments, Qualified Foreign Investor (QFI), Foreign Institutional Investor (FII), etc. Foreign Investment: Any investment made by a person resident outside India on a repatriable basis in capital instruments of an Indian company or to the capital of a Limited Liability Partnership (LLP) is known…