(1.)
Foreign Exchange Management (Manner of Receipt and
Payment) Regulations, 2016
RBI Notification:
Notification
No. FEMA 14 (R)/2016-RB dated May 2, 2016
Applicability:
All
Authorised Persons, Authorised Dealers and Banks
Crux of the Notification:
In
supersession of earlier notifications and amendments made with regard to the Foreign Exchange Management (Manner of
Receipt and Payment) Regulations the RBI has framed the Foreign Exchange
Management (Manner of Receipt and Payment) Regulations, 2016.
The regulation broadly covers the
following:
a. Manner of Receipt
in Foreign Exchange and their respective exemptions in certain scenarios
b. Manner of payment
in foreign exchange and their respective exemptions in certain scenarios
Source:
(2.)
Foreign Exchange Management (Transfer or Issue of
Security by a PersonResident outside India) (Seventh Amendment) Regulations,
2016
RBI Notification:
Notification No. FEMA.368/2016-RB dated May 20, 2016
Applicability:
All
Authorised Persons
Crux of the Notification:
- The RBI has made an amendment in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 by interestinga regulation with regard to the maximum amount of total consideration that can be paid by the resident buyer to the non resident seller while transferring shares.
- The regulation is inserted after the regulation 10 in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000
- Further the notification insists that the total consideration finally paid for the shares must be compliant with the applicable pricing guidelines.
Source:
(3.)
Review of Framework for Revitalising
Distressed Assets in the Economy and Strategic Debt Restructuring Mechanism
RBI Notification:
Notification no: RBI/2015-16/408 DNBR.CC.PD.No.081/03.10.01/2015-16 dated May 26, 2016
Applicability:
All
Non-Banking Financial Companies (NBFCs)
Crux of the Notification:
RBI has issued various notifications and guidelines aiming at revitalizing the stressed assets in the economy. In this regard it had taken measures:
- To frame Strategic Debt Restructuring Mechanism,
- To put in place a framework to Revitalise the Distressed Assets in the Economy
- To revise the Guidelines on Restructuring of Advances by Banks.
RBI has ensured to make these frameworks applicable to NBFCs also.
In this regard,through this notification the RBI has currently amendedthe directions and norms that are applicable to NBFCs accordingly.
Source:
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