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Revision of FEMA regulations

RBI has revised nine regulations issued under the FEMA Act 1999 which will be effective on the date of their publication in the Gazette of India. As per RBI communiqué, with the revision of the regulations, the respective original notifications and subsequent amendments stand repealed. It is further informed in the communique that the revised…

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RBI’s Sixth Bi-Monthly Statement : Repo, CRR etc.

RBI in its Sixth Bi-Monthly Statement with regard to ‘Monetary and Liquidity Measures’ made on 02.02.2016 decided to keep, policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.75 per cent. The following rates as a consequence remain unchanged. CRR………………………………………. 4.00% SLR………………………………………..21.50% Repo Rate……………………………. 6.75% Reverse Repo Rate………………. 5.75% Marginal Standing Facility Rate……………

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Postponement of issue date of Sovereign Gold Bonds 2015

The first trench of Sovereign Gold Bonds, 2015 was open for subscription with effect from November 05, 2015 to November 20, 2015. The Reserve Bank in its communique dated November 24, 2015, said that it has been decided to shift the issue date from November 26, 2015, to November 30, 2015. The communique states that…

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Date extended for application for Bharat Bill Payment Operating units

RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs) upto December 18, 2015 from the earlier November 20, 2015.  Bank and non-bank entities engaged in the bill payment activities covered under the current scope of Bharat Bill Payment System (BPPS) either as Bharat Bill Payment Operating Units…

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