تداول العملات الأجنبية في الهند المبادئ التوجيهية ربي 2016

تداول العملات الأجنبية في الهند، تداول العملات الأجنبية في الهند، كيفية بدء تداول العملات الأجنبية في الهند، تجارة الفوركس في الهند 2018، تداول الفوركس الهند، تجارة الفوركس التعليم الهند، تداول العملات الأجنبية في الهند المبادئ التوجيهية ربي، تداول العملات الأجنبية في الهند توقيت .
تداول العملات الأجنبية في الهند، تداول العملات الأجنبية الهند القانونية، كيفية بدء تداول العملات الأجنبية في الهند، تجارة الفوركس في الهند 2018، تداول العملات الأجنبية الهند، تداول العملات الأجنبية التعليم الهند، تداول العملات الأجنبية في الهند المبادئ التوجيهية ربي، تداول العملات الأجنبية في توقيت الهند.
بريكسيت فير:
وسطاء خائفون من أن التحركات غير المسبوقة يمكن أن تحدث، حتى أنها خفضت الرافعة المالية، حذر من أنها قد توسع ينتشر خلال الحدث & أمب؛ علقت بعض الأزواج.
لذلك قبل وضع الأوامر مع الوسيط الخاص بك، يرجى التأكد من أن يكون لديك معرفة جيدة من التدابير الوقائية التي يقوم الوسيط بتنفيذها من أجل التحوط من المخاطر.
البريد: إنفوكماناجر @ غميل سكايب: qmanager. live.
هاتف: 0091 9003344190 و 0091 9600329983.
واتسوب: + 91-9487929983 و فيبر: + 91-9600329983.

تداول العملات الأجنبية في الهند، تداول العملات الأجنبية في الهند، كيفية بدء تداول العملات الأجنبية في الهند، تجارة الفوركس في الهند 2018، تداول الفوركس الهند، تجارة الفوركس التعليم الهند، تداول العملات الأجنبية في الهند المبادئ التوجيهية ربي، تداول العملات الأجنبية في الهند توقيت .
تداول العملات الأجنبية في الهند، تداول العملات الأجنبية الهند القانونية، كيفية بدء تداول العملات الأجنبية في الهند، تجارة الفوركس في الهند 2018، تداول العملات الأجنبية الهند، تداول العملات الأجنبية التعليم الهند، تداول العملات الأجنبية في الهند المبادئ التوجيهية ربي، تداول العملات الأجنبية في توقيت الهند.
بريكسيت فير:
وسطاء خائفون من أن التحركات غير المسبوقة يمكن أن تحدث، حتى أنها خفضت الرافعة المالية، حذر من أنها قد توسع ينتشر خلال الحدث & أمب؛ علقت بعض الأزواج.
لذلك قبل وضع الأوامر مع الوسيط الخاص بك، يرجى التأكد من أن يكون لديك معرفة جيدة من التدابير الوقائية التي يقوم الوسيط بتنفيذها من أجل التحوط من المخاطر.
البريد: إنفوكماناجر @ غميل سكايب: qmanager. live.
هاتف: 0091 9003344190 و 0091 9600329983.
واتسوب: + 91-9487929983 و فيبر: + 91-9600329983.

تداول العملات الأجنبية في المبادئ التوجيهية للإرشادات الهندية 2018
9 أبريل 2018 من قبل.
طلبت من آلم إدواردز (فينانيكال بلوجر) & # xA0؛ لتحليل وتقديم دراسة حالة عن تداول العملات الأجنبية في الخارج من الهند وشرعيتها في الهند. هنا هو أول تقرير ضيفه على تداول العملات الأجنبية في الهند.
في & # xA0. الهند، العملات الأجنبية أو تداول العملات الأجنبية غير مسموح به. إذا تم العثور على شخص ما تداول أدوات الفوركس في سوق الفوركس من قبل بنك الاحتياطي الهندي & # x2019؛ s الممثلين، انه / انها إيميديا ​​تهمة تهمة انتهاك القانون. ومن ثم فإنه من الناحية القانونية جريمة أن تشارك في تداول العملات الأجنبية وتهم الجريمة هي السجن في هذا البلد. وتعتبر الجريمة هائلة، ويمكن استنباط التنبؤ بالكثافة من هذه الحقيقة التي وصفت بأنها غير قابلة للإنقاذ.
ومع ذلك فمن قانوني لمثل نس، بس، مسكس-سك حيث أنها تقدم حاليا 4 أزواج (أوسينر، جبينر، غبدينر، ورينر) في المشتقات (العقود الآجلة وشريحة الخيارات). حتى إذا كنت تتداول مع الوسطاء الهنود الذين لديهم عضوية مع التبادلات الهندية المذكورة أعلاه هو قانوني تماما.
وأيضا أنها قانونية تماما لتجار التجزئة الهندي ل. ولكن التداول الهامش في الخارج يفترض أن يكون غير قانوني وفقا للمبادئ التوجيهية التنظيم ربي.
هذه نتيجة مؤكدة استنادا إلى تقرير إخباري نشر في أبريل / نيسان 2018. & # xA0؛ كما & # xA0. في التقرير روى الكاتب أن الطبيعة غير المشروعة لتداول العملات الأجنبية قد أكدت إد & # xA0؛ من قبل خمسة بنوك من القطاع الخاص والقطاع العام.
تجارة الفوركس والشركات.
كما أشارت التقارير الصادرة عن البنوك حول هذه الأدلة إلى أنه لا يسمح للشركات إلا بالتداول، ولكن الشروط التي تفرضها الشركات هي استخدام الدولار الحر فقط من احتياطياتها. يعني استخدام الدولار الحر أنه لا يسمح لهم بتحويل العملة الهندية إلى الدولارات ومن ثم استخدام تلك الدولارات المحولة للتداول. وعلاوة على ذلك فهي مشروطة التمسك رافعة مالية أقل من عشر مرات.
ويحظر بشكل صارم على الأفراد من التداول الأجنبي والإنترنت القائم على الإنترنت. والسبب في ذلك يجلب عائدات عالية لهم ولكن بتهم عالية - التهم بالسجن. الفرد & # xA0؛ التجار & # xA0. في الهند كما تم تحذير من قبل بنك الاحتياطي الفيدرالي ضد بوابات التداول عبر الإنترنت التي تقدم هذه & # xA0؛ نتائج مغرية من مكاسب عالية ولكن لا تكشف للتجار أنهم محاصرين أنفسهم في نشاط غير قانوني تنظر فيها دولتهم.
RBI & # xA0. كما نشرت تعميما ذكرت بعض وكلاء الذين اتصلوا التجار وحثهم على الاستثمار في تداول العملات الأجنبية لكسب أرباح ضخمة. في هذا الاستعجال العديد من الأفراد أصبحوا محاصرين لهذا التعامل غير القانوني. وعلاوة على ذلك، فإن معظم الصفقات التي قامت بها هذه البوابات الإلكترونية كان لها نفوذ ضخم جدا.
وكانت النتيجة الإضافية التي كشف عنها بنك الاحتياطي الاسترالي هي أنه طلب من الجمهور دفع هذه المدفوعات الهامشية عن المعاملات التجارية من خلال ودائع الحسابات المصرفية أو بطاقات السحب الآلي. وبعد ذلك كانت الحسابات التي يتم دفع المال من نفس الوكيل ولكنها فتحت في العديد من البنوك المختلفة. ولذلك أصدر بنك الاحتياطي الأسترالي تعليمات خاصة إلى المصارف التجارية في البلاد أن تكون حذرة جدا في فرز هذه الحسابات.
& # xA0؛ وأوضح ربي أنه إذا تم القبض على أي شخص من هذا القبيل، ثم سيتم اتخاذ إجراءات صارمة ضده / لها بموجب فيما، 1999، مخالفات. وبالإضافة إلى ذلك، سيعتبر أيضا مسؤولا عن انتهاكات سياسة اعرف عميلك ومعايير غسل الأموال. كما أن جميع المعاملات التي تم إعلانها غير مسموح بها بموجب قانون النقد الفدرالي غير مسموح بها أيضا. وتشمل هذه المعامالت أي معامالت مرتبطة بالعملة األجنبية وتحويلات أو تحويلات هامشية.
تنويه: إذا كنت تقوم بتداول العملات الأجنبية في الهند ثم التشاور مع فكس وسيط الخاص بك في هذه المسألة. & # xA0.
6 أبريل 2017 من قبل.
اليورو مقابل الدولار الأميركي على الإطار الزمني الشهري التداول في ميزان أكبر بين 1.0482 و 1.145 (تقدير تقريبي) منذ بداية عام 2018. كان أكثر من 2 سنوات وتداول اليورو مقابل الدولار الأميركي هو نطاق أكثر تشددا على الإطار الزمني الأكبر. على الجانب السفلي 1.048 يقدم الدعم على المدى الطويل الذي هو أيضا الجزء السفلي من التوازن. ويظهر نشاط التداول المضغوط للغاية في الأشهر الأخيرة من التداول 4-5.
14 مارس 2017 من قبل.
وعزز زوج العملات ور / أوسد مكاسبه الأخيرة عقب ارتفاع سعر الصرف في أعقاب اجتماع البنك المركزي الأوروبي. في حين أن البنك المركزي في الغالب عالق في السيناريو، والحفاظ على أسعار دون تغيير و ك في مكانها، أنها اتخذت موقفا أكثر حيادا ولكن هذا سوف يأتي ببطء على مدى فترة طويلة من الزمن. دراجي، من الزيادات الأخيرة في التضخم كما الانتقالية، ويعتقد أن هناك حاجة إلى التحفيز الحالي للبقاء سليمة.
9 مارس 2017 من قبل.
أوسينر تظهر المخططات اليومية تباينا واضحا عند تطبيق مؤشر تحويل الصيادين على الرسوم البيانية. تحويل فيشر عموما تحويل أي توزيع الاحتمالات لتوزيع الاحتمالات غاوس. وبالتالي جعل المؤشر أفضل في تحديد نقطة تحول عند الحواف ويساعد المتداول في تحديد انعكاسات الاتجاه في التداول التقديري.
24 فبراير 2017 من قبل.
يتم تثبيت اليورو مقابل الدولار الأميركي على الإطار الزمني الشهري والأسبوعي ويسود المشاعر السلبية هناك. ومع ذلك، فقد تحولت معنويات التداول اليومية إلى إيجابية. منذ بداية فب 2017 اليورو مقابل الدولار الأميركي في وضع هابط وحتى الآن ارتفع اليورو مقابل الدولار الأميركي من أدنى مستوياته المتوسطة التي شكلت حول 1.0500 المستويات. ويمكن أن تعمل كمنطقة دعم محتملة في اليوم التالي.
13 فبراير 2017 من قبل.
منذ عام 2017، ارتفع الدولار بنسبة 25٪ مقابل سلة من العملات الرئيسية. بعد انتخابات الرئيس ترامب و # x2019، ارتفعت قيمة الدولار بنحو 3٪، ولكن تعليقه الأخير يشكك في الحكمة من الحفاظ على & # x201C؛ الدولار القوي & # x201D؛ يبدو أنها قد وضعت ضغوطا على الدولار، الذي كان حتى الآن في الأحمر في عام 2017.
24 يناير 2017 من قبل.
يتداول الجنيه الإسترليني حول 1.2494 وحول مؤشر القوة النسبية العاطفي الشهري حاليا إيجابيا ومن المرجح أن يستمر إيجابيا على المدى الطويل. وقد استغرق الأمر تقريبا 7 أشهر لكي يتغير المشاعر الإيجابية منذ خروج مكتب الاتصالات الراديوية. ويشير انتقال المشاعر من اللون الأحمر إلى اللون الأصفر إلى انعكاس الاتجاه الإيجابي ومن المرجح أن يكون تغيير الاتجاه طويل الأجل.
5 نوفمبر 2018 من قبل.
بعض المتداولين الفوركس موجة الفوركس لا مشاهدة الأخبار & # x2017؛ ولكن لأسباب مختلفة من قبل إليوت الموج الدولية يوم الجمعة الماضي، ارتفع اليورو مقابل الدولار الأميركي بقوة. وقال رويترز: & # x201C؛ تراجع الدولار الأمريكي مقابل سلة من العملات الرئيسية و # x2026؛ على عدم اليقين السياسي الأمريكي بعد أن قال مكتب التحقيقات الفدرالي أنه سيتم استعراض المزيد من رسائل البريد الإلكتروني المتعلقة المرشح الديمقراطي الرئاسي هيلاري كلينتون & # x2019؛ خاصة [& # x2026؛ ]
27 سبتمبر 2018 من قبل.
ومن المحتمل أن يفهم أي متداول من العملات الأجنبية تأثير السياسات المحلية والدولية على قيم العملة. ويشمل التداول الناجح عبر الفوركس على الفور التغيرات والاتجاهات التي تحدث في جميع أنحاء العالم، وجعل الصفقات الصحيحة في اللحظات المناسبة للاستفادة من التغيرات في قيم العملة.
22 أغسطس 2018 من قبل.
أوسجبي في الاتجاه الهبوطي خلال ال 10 أشهر الماضية. تراجع التذبذب العام وزخم الاتجاه الهبوطي في الأسابيع الأربعة الماضية مع الحركة الجانبية في أوسجبي. منطقة التداول النفسي & # x2018؛ أزواج التكافؤ 100 حصلت على انحسار بضع مرات تليها تراجع طفيف الأسبوع الماضي. كما الذعر في أوسجبي يتلاشى بعيدا يمكن للمرء أن يتوقع أوسجبي لمواصلة في منطقة التوحيد كبيرة ونتوقع لاختبار 108 في المدى المتوسط.
أوسجبي الرسوم البيانية الشهرية في وضع هبوطي خلال ال 9 أشهر الماضية و تستمر على التوالي في صنع أدنى مستوياته و قممه الدنيا. ومن عام 2018 كان أوسجبي ارتفاع الماضي.
20٪ منذ إعلان سعر الفائدة السلبي جاء في 29 يناير. وتداول حاليا حول منطقة الدعم النفسي من 100 المستويات. تشير مستويات سم ويليام فيكس فيكس إلى مستويات محتملة في البيع.
21 يونيو 2018 من قبل.
بعد أن أعلن د. راجورام راجان & # x2019؛ (ربي غوفرنر) أنه لن يستمر في منصبه لفترة ثانية، ردت أسواق الأسهم يوم الاثنين مع الهبوط واستردت على الإغاثة من مخاوف بريكسيت. ومع ذلك فقد أنهى زوج العملات أوسدينر عند 67.6 مع قوة دفع قوية. وتظل مشاعر التخلص من الذخائر المتفجرة إيجابية، كما يتحول مؤشر اتجاه المرجان إلى اللون الأخضر مما يشير إلى أن الاتجاه الصعودي المحتمل من هنا.
22 أبريل 2018 من قبل.
سلوك التباعد المثير للاهتمام في أوسينر الرسوم البيانية اليومية أثناء محاولة استخدام مؤشر فيشر ترانسفورم من إهلرز. تقريبا كل التباعد كما هو مبين في الرسوم البيانية أعلاه تمتد في أي مكان بين 28-34 يوما. ويحدث الاختلاف عموما عندما يتجه مؤشر وسعر الأصل إلى اتجاهات متعاكسة. يتم تشغيل الاختلاف الإيجابي الحالي على مدى 32 يوما الماضية، أي أن معدل أوسينر يتباطأ ويتحرك لأسفل ولكن مؤشر فيش يتحول صعودا.
مجلس الأوراق المالية والبورصة في الهند (سيبي) هو الهيئة التنظيمية المعينة لأسواق التمويل والاستثمار في الهند. يلعب مجلس اإلدارة دورا حيويا في الحفاظ على أسواق مالية واستثمارية مستقرة وفعالة من خالل إنشاء وإنفاذ أنظمة فعالة في السوق المالية الهندية. الهند & نبسب؛ s سيبي تشبه لجنة الأوراق المالية والبورصات الأمريكية ().
تأسست سيبي في عام 1988 ولكن أعطيت سلطات تنظيمية فقط في 12 أبريل 1992، من خلال قانون الأوراق المالية والبورصة في الهند لعام 1992. وهو يلعب دورا رئيسيا في ضمان استقرار في الهند، من خلال جذب المستثمرين الأجانب وحماية المستثمرون الهنود. تم بناء سيبي من قبل حكومة الهند. ويقع مقرها في حي الأعمال باندرا كورلا مجمع وجدت في مومباي. ولديها أيضا مكاتب إقليمية شمالية وشرقية وجنوبية وغربية.
وتتكون إدارة سيبي من أعضائها. ويتألف فريق إدارتها من رئيس تعينه حكومة الاتحاد في الهند، عضوان من الضباط من وزارة المالية الاتحادية، وعضو من مصرف الاحتياطي الهندي وخمسة أعضاء آخرين ترشحهم حكومة الاتحاد في الهند أيضا.
سيبي & نبسب؛ s ديبامبل يصف بالتفصيل وظائف وسلطات المجلس. وتنص ديباجتها على أنه يجب على "سيبي" حماية مصالح المستثمرين في الأوراق المالية وتعزيز تطوير وتنظيم سوق الأوراق المالية والمسائل المرتبطة بها أو العرضية فيها. في ضوء ذلك، كهيئة، يجب على سيبي أن تكون استجابة واستباقية لاحتياجات واهتمامات المجموعات التي تشكل الهند و الأسواق المالية والاستثمارية: المستثمرين ووسطاء السوق ومصدري الأوراق المالية.
ويسمح ل سيبي بالموافقة على الأنظمة الداخلية لبورصات الأوراق المالية. ومن واجبها أن تطلب من البورصة اتباع قوانينها الداخلية. كما تقوم سيبي بتفقد دفاتر حسابات الوسطاء الماليين وتطلب الحصول على عوائد منتظمة من البورصات المعترف بها. ويغطي دور سيبي & غ؛ دور شركات مقنعة معينة لإدراج أسهمها في البورصات. وبصرف النظر عن هذه، سيبي مكلفة بإدارة تسجيل الوسطاء.
وللمجلس في نهاية المطاف ثلاث سلطات: شبه قضائية وشبه تشريعية وشبه تنفيذية. وللمركز الحق في وضع لوائح في إطار سلطته التشريعية وإجراء التحقيقات وفرض الإجراءات في إطار وظيفته التنفيذية، وإصدار قواعد وأوامر جديدة في إطار سلطته القضائية. على الرغم من هذه الصلاحيات، لا تزال نتائج سيبي و وظائف للذهاب من خلال محكمة الاستئناف الأوراق المالية والمحكمة العليا في الهند.
16 مايو 2017، الثلاثاء.
وقال غف هيئة صناعة غف اليوم أن الأحجار الكريمة والمجوهرات التجارة مستعدة تماما لنظام ضريبة السلع والخدمات، التي سيتم تنفيذها من 1 يوليو.
27 أبريل 2017، الخميس.
وافقت الحكومة على التصميم الجديد المذكرات العليا من 500 روبية و 2000 روبية في 7 يونيو 2018، قبل ستة أشهر من رئيس الوزراء.
فمن إيفل & نبسب؛ ق تسعى لإبقاء لكم على اطلاع على التطورات التي تتكشف في البنك الاحتياطي الهندي على أساس يومي. وقد تم الحصول على المعلومات المقدمة في هذا القسم من ربي وبوابة الرسمية واستمدت للقراء لتمكينهم من إلقاء نظرة سريعة على كل ما هو ضروري.
بنك كوربوراتيون لديها مجموعة واسعة من خدمات الفوركس لتقديمها لكل من احتياجات الأعمال التجارية وغير التجارية.
يقوم البنك بتحصيل / تفاوض / خصم فواتير التصدير. يقدم البنك اإسعار خطابات اعتماد التسدير كما يسمن التاأكيد على ذلك. يقوم البنك بترتيب القروض التجارية الخارجية يقدم البنك جميع أنواع التسهيالت االئتمانية للمصدرين والمستوردين، بما في ذلك التمويل المقوم بالعملة األجنبية للكيانات المقيمة. يقدم البنك خدمات تحويل العمالت األجنبية من الداخل والخارج لتغطية متطلبات السفر والطب وغيرها من المتطلبات الشخصية. ويقوم البنك بإصدار الشيكات السياحية، وبالعمالت األجنبية، والصفقات بالعملة األجنبية. شبكة على مستوى الأمة من 66 فرعا المعين التعامل مع عملات الصرف الأجنبي، والتي تغطي مراكز الأعمال الهامة في الهند.
تعليمات لتحويل الأموال من المراكز الخارجية.
لتحويل الأموال من مراكز في الخارج، يجب على المرسل توجيه مصرفي له لتحويل المبلغ إلى حساب نوسترو لدينا الحفاظ على مختلف البنوك في العملة المعنية. أي المبلغ بالدولار الأمريكي بعملة الدولار، ومبلغ الجنيه الإسترليني بعملة الجنيه الإسترليني، إلخ. وأسماء البنوك ورقم الحساب والعملة بخمس عملات رئيسية متاحة على هذا الموقع. (بالنسبة لعملات أخرى يمكن للعملاء الاتصال بالفروع التي يحتفظون فيها بالحساب أو إرسال طلب هنا). يمكن أن يكون طلب تحويل الأموال على الخطوط التالية. اختصاص. (العملة والمبلغ). إلى . (اسم البنك نوسترو). A / C نو ؛. (نوسترو أكونت نو).
للحصول على الائتمان فورهثر ل. (أذكر اسم الفرع حيث يتم الحفاظ على الحساب).
A / c رقم (A / c لا من المستفيد). السيد (اسم المستفيد). لغرض . (الغرض من التحويلات المالية).
سويفت كود بنك المؤسسة كوربينب. يمكن إضافة رمز الفرع المعني في قائمة الفروع لمعالجة أسرع، (على سبيل المثال: بالنسبة لبانجيم، رمز سويفت هو كوربينب 259. لرمز راجكوت سويفت هو كوربينب 191)
لمزيد من التوضيحات إرسال أو الفاكس إلى قسم الخدمات المصرفية الدولية مومباي في 91-022-22023378، 22814728.
1. تمويل ما قبل الشحن (ائتمان التعبئة) صندوق الائتمان بالروبية المقومة بالدولار الأمريكي / اليورو / الجنيه الإسترليني (بفك / فكلس) من صناديق فنر (ب) 2. ما بعد الشحن التمويل بالروبية التمويل التسهيلات الائتمانية المقيدة للفواتير بموجب لك شراء / خصم فواتير روبية مقدما ضد فواتير المجموعة أوسد المقومة الائتمان Ex. Bill ريدسكونتينغ فكلس.
رمدس: 2000 (ريوتر مونيتور ديالينغ سيستيم) لعمليات التعامل عبر الإنترنت مما يمكن البنك من توفير أسعار صرف تنافسية للعملاء.
ناس (نيتورك أسيس سيرفر) - مرفق تسجيل الدخول عن بعد للعملاء لديهم إمكانية الوصول المباشر إلى شبكة الكمبيوتر في شعبة الخدمات المصرفية الدولية، مومباي لالتقاط أسعار العملات الأجنبية عبر الإنترنت، ووضع العملاء على منصة مفيدة وخصوصا عندما راتريس متقلبة.
سويفت - (شبكة الاتصالات المالية العالمية بين البنوك العالمية) متاحة حاليا في قسم الخدمات المصرفية الدولية، مومباي. يوجد 31 فرعا معينا على شبكة سويفت من أجل تقديم معاملات وخدمات سريعة وفورية.
اتصال البريد الإلكتروني لجميع فروع البنك تمكين خدمة متفوقة والوصول السريع.
تيليكس / فاكس / تأجير خطوط التأجير إلى فروع وضع الاستعداد الاستعداد.
العقود الآجلة حسابات إيفك إصدار الضمانات - الأداء / سندات العطاءات الخدمات الاستشارية / إدارة مخاطر صرف العملات الأجنبية يقدم البنك مساعدات مالية واسعة النطاق لقطاعات النمو المرتفع مثل الملابس، والبرمجيات، والأحجار الكريمة، مجوهرات، الأصباغ والكيماويات. وقد تم تحديد ائتمان التصدير كمنطقة دفع وباعتباره البنك الرائد في تمويل المجوهرات والمجوهرات، فاز البنك في عام 1980 بجائزة الجائزة ومجلس ترويج الصادرات للمجوهرات لمدة خمس سنوات متتالية. وهناك خلية الماس الخاصة في فرع ما وراء البحار، مومباي يمتد خدمات مخصصة لمجوهرات جوهرة ومصدرين في مومباي.
بالإضافة إلى التمويل قبل الشحن بالروبية وكذلك العملات الأجنبية، يقوم البنك بتقديم التسهيلات الائتمانية الخاصة بالعميل مثل ترتيب خط ائتمان المشترين، البنك المركزي الأوروبي، إلخ. وقد أثر البنك بالفعل في السوق من خلال تقديم قروض بالعملات الأجنبية، من أصل (ب) إلى الهيئات المكونة المقيمة بأسعار تنافسية دوليا.
مرافق نافذة واحدة للشركات في فروع التمويل الصناعي المتخصصة في مومباي ونيودلهي وبنغالور وأحمد أباد وبيون. يبيع البنك المساهمين الرئيسيين بالعملات الأجنبية من أمريكان إكسبريس و ترافيلكس. وتتيح العمليات الكاملة لغرف التعامل للبنك إمكانية تقديم أسعار صرف أفضل للعملاء. وقد مكنت عمليات الخزينة المحلية والسوق األجنبية البنك من مواكبة المطالب والتحديات في األجواء التحريرية التي أعقبت ذلك. وجود قوي في السوق ما بين البنوك تمكن البنك لتلبية الاحتياجات المتنوعة للعملاء الفوركس. اتبعت الممارسات الحكيمة لإدارة الأصول والخصوم لضمان الاستخدام الفعال لموارد النقد الأجنبي. العلاقات المصرفية المراسلة مع البنوك ذات السمعة الطيبة في جميع أنحاء العالم - العلاقات مع 160 البنوك، وتغطي أكثر من 395 مكاتب / مراكز. حافة التكنولوجيا للخدمة الممتازة - لدى البنك عمليات فوركس محوسبة في قسم الخدمات المصرفية الدولية في مومباي وكذلك في مختلف الفروع المعينة. سجل ممتاز للتدبير المنزلي لخدمات خالية من المتاعب.
1- مصرفي لدى الوكيل الحكومي ومستشار للحكومة.
2. المصرفي إلى البنوك. يعمل بمثابة المقاصة.
3. بيت البلد مقرض الملاذ الأخير تحكم الائتمان وصدارة خادم أجنبي.
4 - احتفاظ احتياطيات الصرف بالقيمة الخارجية للعملة المحلية.
5. يضمن القيمة الداخلية للعملة.
6. الناشرين إحصاءات الاقتصاد وغيرها.
7 - وفيما يلي الوظائف الهامة التي يقوم بها المصرف. ويمكن تفسيرها بمساعدة الرسم البياني التالي:
وظائف البنك الاحتياطي الهندي.
1. المعلومات. يحارب الأزمة الاقتصادية ويضمن الاستقرار الاقتصادي والثبات في الأسعار في البلاد.
2. وظائف ترويجية.
3. ترويج العادة المصرفية وتوسيع النظم المصرفية. يوفر إعادة تمويل لتعزيز الصادرات. توسيع مرافق توفير الائتمان الزراعي من خلال نابارد.
4 - تمديد مرافق الصناعات الصغيرة.
5. مساعدة القطاع التعاوني.
6- وصف الحد الأدنى من المتطلبات القانونية. الابتكارات في الأعمال المصرفية.
1- منح التراخيص للبنوك.
2. التفتيش والتحقيق أو تحديد الموقف فيما يتعلق بالمسائل في إطار مختلف أقسام بنك الاحتياطي الأسترالي وقانون تنظيم البنوك.
3. تنفيذ نظام تأمين الودائع.
4- المراجعة الدورية لاستعراض عمل المصارف التجارية.
5. إعطاء توجيهات للمصارف التجارية.
6. السيطرة على التمويل غير المصرفي.
7. ضمان صحة النظام المالي من خلال عمليات التحقق داخل الموقع وخارج الموقع.
دعونا نناقش المهام الهامة واحدا تلو الآخر بالتفصيل.
وظائف ربي على الخطوط التقليدية فيما يتعلق بالأنشطة التالية.
وفيما يتعلق بالقسم 22 من قانون مصرف الاحتياط الهندي، أعطي المكتب الوطني للهجرة الوظيفة القانونية المتمثلة في إصدار المذكرة على أساس الاحتكار. كانت مسألة المذكرة في الهند تستند في الأصل إلى & كوت؛ نظام الاحتياطي النسبي & كوت ؛.
عندما أصبح من الصعب الحفاظ على & # زاد؛ خدميا بشكل متناسب، تم استبدالها بواسطة & كوت؛ الحد الأدنى لنظام الاحتياطي & كوت ؛. ووفقا لقانون تعديل بنك الاحتياطي الفيدرالي لعام 1957، ينبغي أن يحتفظ البنك الآن باحتياطي أدنى قيمته 200 كرور روبية من العملات الذهبية وسبائك الذهب والأوراق المالية الأجنبية التي ينبغي ألا تقل قيمة العملة الذهبية وسبائكها عن 115 كرور روبية .
تصدر حكومة الهند النقود الروبية في تسمية Rs.1، 2، و 5 الجمهورية. وهذه القطع النقدية لا بد من تعميمها على الجمهور إلا من خلال قانون الاحتياطي الخاص بالبنك الاحتياطي من القسم 38 من قانون بنك الاحتياطي الفيدرالي. و ربي تصدر حاليا مذكرات من الطوائف Rs.10 وما فوق.
ويدير بنك الاحتياطي الأسترالي تداول الأموال من خلال صدورهم من العملة. في الأصل أصدر بنك الاحتياطي الفدرالي سندات العملة من Rs.2 وما فوق. ومع ذلك، نظرا لارتفاع تكلفة الطباعة الصغيرة & # زاد؛ تلاحظ نشير هذه الطوائف هي الآن تتزامن وتصدر من قبل الحكومة.
ولم تكن قيمة العملة مع الجمهور كما في حزيران / يونيه 1991 إلا بمقدار 303048 كرور روبية. غير أن هذه القيمة ارتفعت إلى 145182 كرور روبية في حزيران / يونيه 1998، وارتفعت إلى 169392 كرور روبية في آذار / مارس 1999.
العملات المصدرة العملة الصدور هي الأوعية التي يتم تخزين مخزونها من الأوراق النقدية الجديدة والرائدة مع العملات الروبية. العملة صدورهم هي المستودعات التي يديرها ربي، الهيئة الفرعية للتنفيذ، الشركات التابعة للهيئة الفرعية للتنفيذ، ومصارف القطاع العام، الخزانة الحكومية والخزائن الفرعية.
كور & # زاد؛ رينسي الصدور تساعد في التوسع وانكماش العملة في البلاد. مزايا بنك لديه عملة الصدر هي:
'1'يمكن للبنك أن يوجه الأموال كلما كان مطلوبا لاستخدامه وأموال الودائع عند وجود فائض.
(إي) تبادل الملاحظات القديمة والمتشوهة للالأسهم والقطع النقدية الجديدة.
'3' التمتع بمرافق التحويلات المالية.
'4' يمكن أن يؤخذ في الحسبان النقد الذي تحوله المصارف إلى صناديق النقد التي تصدرها المصارف من أجل التمويل الرئيسي.
أما صناديق النقد التي يحتفظ بها القطاع العام وقلة من مصارف القطاع الخاص فهي ملك للمصرف. قيمة العملة التي يحتفظ بها في الصدر تنتمي إلى ربي. هناك ما يصل الى 4150 صدورهم العملة مع البنوك في الهند.
2. مصرفي للحكومة.
يعمل بنك الاحتياطي الأسترالي كمصرفي للحكومة بموجب القسم 20 من قانون بنك الاحتياطي الفيدرالي. وتنص المادة 21 على أنه ينبغي للحكومة أن تعهد بتحويل أموالها وتبادلها ومعاملاتها المصرفية في الهند إلى مصرف الاحتياطي الهندي. وبموجب القسم 21 ألف، يتعين على المصرف أن يقوم بمعاملات مماثلة لحكومات الولايات أيضا.
ولا يحصل بنك الاحتياطي الفيدرالي على أي دخل من خلال القيام بهذه المهام ولكنه يكسب بعثات لإدارة الدين العام للحكومة. وحيث لا يوجد لدى فرع بنك الاحتياطي الأسترالي فرع، يتم تعيين الهيئة الفرعية للتنفيذ أو الشركات التابعة لها كوكيل ووكلاء فرعيين بموجب المادة 45 من قانون بنك الاحتياطي الأسترالي. تتلقى بنوك الوكالة عمولة على جميع المعامالت التي تتم على أساس دوران.
و ربي يمتد & أبوس؛ طرق ووسائل & نبسب؛ وتقدم إلى الحكومات المركزية وحكومات الولايات.
& كوت؛ الطرق والوسائل السلف & كوت؛ (وما) ليس الائتمان المصرفي التجاري. وهو نظام يقوم بموجبه بنك الاحتياطي الأسترالي بتقديم الائتمانات إلى الحكومة المركزية وحكومة الولاية؛ والادخار لمواجهة العجز المؤقت في الإيرادات الحكومية مقارنة بالنفقات الشهرية.
وبعبارة أخرى، یتم توفیر ھذا المرفق للوفاء بالمتطلبات المؤقتة التي تربط بین تحصیل الإیرادات ونفقات إیرادات الحکومات. ويحكم حجم ومدة هذه السلف بالاتفاقيات المبرمة بين بنك الاحتياطي الفيدرالي والحكومة المعنية. وبالنسبة إلى حكومات الولايات، يمتد هذا المرفق تحت ثلاث فئات تعرف باسم "
2. وما الخاصة و.
3. كمرفق السحب على المكشوف.
وهي تعمل أيضا كمستشار للحكومة في المسائل الاقتصادية والمالية. وباختصار، وبوصفه مصرفا للحكومة، يقوم المكتب بمهامه التالية:
(أ) تحصيل الضرائب وتسديد المدفوعات نيابة عن الحكومة.
(ب) تقبل الودائع من الحكومة.
(ج) جمع الشيكات والمشاريع المودعة في حسابات الحكومة.
(د) تقديم قروض قصيرة الأجل إلى الحكومة.
(ه) توفير موارد النقد الأجنبي للحكومة.
(و) إبقاء حسابات مختلف الإدارات الحكومية.
(ز) الحفاظ على صدور العملة في الخزائن في بعض الأماكن الهامة للكونف & زاد؛ الحكومة من الحكومة.
(ح) إسداء المشورة للحكومات بشأن برامج الاقتراض.
(ط) تحتفظ بحسابات صندوق النقد الدولي والحكومة المركزية وتديرها.
3 - وكيل ومستشار الحكومة.
ويعمل المصرف، بوصفه الوكيل المالي والمستشار للحكومة. فإنه يجعل فول & # زاد؛ وظائف خفض:
(أ) وبوصفها وكيلا للحكومة، فإنها تقبل القروض وتدير الديون العامة نيابة عن الحكومة.
(ب) أنها تصدر سندات حكومية وأذون خزانة وما إلى ذلك.
(ج) القيام بدور المستشار المالي للحكومة في جميع المسائل الاقتصادية والمالية الهامة.
يعمل بنك الاحتياطي الأسترالي كصرفي لجميع البنوك المجدولة. البنوك التجارية بما في ذلك البنوك الأجنبية والبنوك التعاونية ومجالس لوائح الراديو مؤهلة لإدراجها في الجدول الثاني من قانون بنك الاحتياطي الفيدرالي رهنا بالشروط الوفاء المنصوص عليها في المادة 42 (6) من قانون بنك الاحتياطي الفيدرالي.
لدى بنك الاحتياطي الأسترالي صلاحيات لحذف بنك من الجدول الثاني إذا فشل البنك المعني في الوفاء بالشروط المحددة مثل تآكل رأس المال المدفوع دون الحدود المقررة، أصبحت الأنشطة ضارة بمصلحة المودعين، وما إلى ذلك.
جميع البنوك في الهند، يجب أن تحتفظ نسبة معينة من مطالبهم الطلب والوقت والاحتياطيات مع ربي. وهذا يعرف باسم نسبة الاحتياطي النقدي أو كر. وفي نهاية تشرين الثاني / نوفمبر 1999، تبلغ النسبة 3 في المائة بالنسبة إلى لجان لوائح الراديو والمصارف التعاونية؛ 9 في المائة للمصارف التجارية.
كما أنها تحتفظ الحساب الجاري مع ربي لمختلف المعاملات المصرفية. هذه المركزية من الاحتياطيات والحسابات تمكن ربي من تحقيق ما يلي:
(أ) تنظيم الائتمان المعروض من النقد.
(ب) القيام بدور الوصي على الاحتياطيات النقدية للمصارف التجارية.
(ج) تعزيز النظام المصرفي للبلد.
) د (ممارسة الرقابة الفعالة على البنوك في إدارة السيولة.
(ه) ضمان تقديم المساعدة المالية في الوقت المناسب إلى المصارف في ظل صعوبات.
(و) يعطي توجيهات إلى المصارف في سياساتها الإقراضية من أجل المصلحة العامة.
(ز) ضمان المرونة في الهيكل الائتماني للبلد.
(ح) النقل السريع للأموال بين المصارف الأعضاء.
5 - يعمل بوصفه مركزا وطنيا لتبادل المعلومات.
في الهند يعمل بنك الاحتياطي الأسترالي كمركز لتبادل المعاملات المصرفية. هذه الوظيفة من غرفة المقاصة تمكن البنوك الأخرى لتسوية المطالبات بين البنوك بسهولة. وعلاوة على ذلك فإنه يسهل التسوية اقتصاديا.
وفي الحالات التي لا توجد فيها مكاتب خاصة بها، تجري وظيفة غرفة المقاصة في مقر مصرف الدولة في الهند. إن عمليات المقاصة بأكملها التي يقوم بها بنك الاحتياطي الاسترالي محوسبة. تتم تسوية المقاصة بين البنوك مرتين في اليوم.
هناك مسار منفصل لتخليص الشيكات عالية القيمة بقيمة 1.000 ل. خ. وما فوق. يتم مسح الشيكات المسحوبة على البنوك في المدن الكبرى في نفس اليوم.
يقوم ربي بهذه الوظيفة من خلال خلية تعرف باسم خلية المقاصة الوطنية. وفي عام 1998، كان هناك في جميع مراكز المقاصة البالغ عددها 860 مركزا، منها 14 مركزا يديرها مصرف الاحتياطي الهندي و 578 مؤسسة فرعية للتنفيذ وغيرها من المصارف التابعة للقطاع العام.
ويعمل بنك الاحتياطي الأسترالي كمقرض الملاذ الأخير أو مزود صندوق الطوارئ إلى المصارف الأعضاء الأخرى. على هذا النحو، إذا لم تتمكن البنوك التجارية من الحصول على مساعدة مالية من أي مصادر أخرى، ثم كملجأ أخير، فإنها يمكن أن الاقتراب من ربي للحصول على المساعدة المالية اللازمة.
في مثل هذه الحالات، يوفر بنك الاحتياطي الفدرالي تسهيلات ائتمانية للبنوك التجارية على الأوراق المالية المؤهلة بما في ذلك فواتير التجارة الحقيقية التي عادة ما تكون متاحة في سعر البنك.
يقوم بنك الاحتياطي الفدرالي بإعادة حساب الفواتير بموجب القسم 17 (2) و 17 (3) ومنح السلف مقابل سيكو & زاد؛ بموجب القسم 17 (4) من قانون بنك الاحتياطي الفيدرالي (ربي). ومع ذلك، يتم تنفيذ العديد من هذه المعاملات عمليا من خلال وكالات منفصلة مثل دفي، شركة تجارة الأوراق المالية في الهند، تجار الأولية.
يوفر البنك الاحتياطي الربيدي الآن تسهيلات إعادة التمويل كمساعدات مباشرة. وتندرج إعادة حساب الفواتير في الفئات التالية:
مشروع قانون الناشئة عن الشعلة التجارية أو المعاملات التجارية المسحوبة والمستحقة الدفع في الهند وتستحق في غضون 90 يوما من تاريخ بور & # زاد؛ مطاردة أو الخصم مؤهلة لإعادة الخصم.
'2' فواتير تمويل العمليات الزراعية:
مشروع قانون تم إصداره لغرض تمويل العمليات الزراعية الموسمية أو تسويق المحاصيل واستحقاقها خالل 15 شهرا من تاريخ الشراء أو إعادة التقييم.
'3' فواتير تمويل الكوخ والصناعات الصغيرة:
فواتير تعادل أو هو & # زاد؛ دعوى قضائية ضد لغرض تمويل إنتاج وتسويق منتجات المنزلية والصناعات الصغيرة التي وافق عليها ربي وتنضج في غضون 12 شهرا من تاريخ الخصم.
وتقدم مؤسسة نابارد الآن إعادة التمويل في إطار أنشطة الصناعات الزراعية والصغيرة الحجم من خلال الحصول على مساعدة مالية من مصرف الاحتياطي الأسترالي. فاتورة الحيازة أو التداول في الأوراق المالية الحكومية: ينبغي أن ينتهي هذا القانون في غضون 90 يوما من تاريخ الشراء أو إعادة الحساب، وأن يتم سحبه ودفعه في الهند،
فاتورة النار الناجمة عن تصدير البضائع من الهند والتي تنضج في غضون 180 يوما من تاريخ شحن البضائع مؤهلة. كمقرض الملاذ الأخير ييسر بنك الاحتياطي الفيدرالي ما يلي:
(أ) تقديم المساعدة المالية إلى المصارف التجارية في وقت الاحتياجات المالية.
(ب) يساعد المصارف التجارية في الحفاظ على سيولة مواردها المالية.
(ج) تمكين المصارف التجارية من الاضطلاع بأنشطتها باحتياطيات نقدية دنيا.
(د) بصفته مقرض الملاذ الأخير، يمكن للمصرف أن يمارس سيطرة كاملة على المصارف التجارية.
يسيطر بنك الاحتياطي الفدرالي على إنشاء الائتمان من قبل البنوك التجارية. لهذا، يستخدم ربي كل من الأساليب الكمية والنوعية. الطرق الهامة المستخدمة من قبل بنك الاحتياطي الفدرالي هي،
) 1 (سياسة سعر الفائدة.
'2' عملية السوق المفتوحة.
(3) نسبة الاحتياطي النقدي.
(4) تحديد متطلبات الهامش.
'5' سواسيون الأخلاقية.
'6' إصدار التوجيهات.
من خلال السيطرة على الائتمان، و ربي يحقق ما يلي:
(أ) يحافظ على المستوى المنشود من تداول الأموال في الاقتصاد.
(ب) الحفاظ على الاستقرار في مستوى الأسعار السائد في الاقتصاد.
(ج) التحكم في آثار الدورات التجارية.
(د) التحكم في التقلبات في سعر صرف العملات الأجنبية.
(ه) توجيه الائتمان إلى القطاعات الإنتاجية للاقتصاد.
ويعمل بنك الاحتياطي الاسترالي كحافظ على احتياطيات النقد الأجنبي. وقد تساعد الاحتياطيات الكافية في الحفاظ على أسعار صرف العملات الأجنبية. وبغية التقليل إلى أدنى حد من التقلبات التي لا داعي لها في المعدلات، يجوز لها شراء وبيع العملات الأجنبية تبعا للحالات.
يتم شراء وبيع العملات الأجنبية من السوق مثل البنوك التجارية. ومع ذلك، فإن الهدف من ربي لن يكون الحجز الربح.
وقد تشتري العملة الأجنبية لتكوين احتياطيات كافية أو لوقف الارتفاع غير المبرر في قيمة الروبية التي قد تعزى إلى التدفق المفاجئ للعملات الأجنبية إلى الهند. كما يجوز لها شراء وبيع العملات الأجنبية في السوق الدولية لتحويل محفظة الاستثمارات التي يتم ترشيحها بعملات دولية مختلفة تبعا للظروف والاحتياجات.
وبلغت قيمة احتياطيات الهند من العملات الأجنبية التي يحتفظ بها بنك الاحتياطي الفيدرالي في حزيران / يونيه 1998 ما قيمته 115001 كرور روبية. ويتألف هذا المبلغ من 1288 روبية روبية هندية، وأصول بالعملة الأجنبية، وقيمة عملات صندوق النقد الدولي، وهي حقوق السحب الخاصة.
وتزداد هذه الاحتياطيات إلى روبية. 1، و 005 38 كرور روبية في آذار / مارس 1999. وتتعرض قيمة أصول العملات الأجنبية لمصرف الاحتياطي الهندي، التي تشكل الجزء الأكبر من احتياطيات العملات الأجنبية في الهند، للتغييرات حتى على أساس يومي رهنا بأسعار الصرف الحاكمة، تتدخل & # زاد؛ سياسة الترحيل من ربي، الخ.
وعندما يواجه بلد ما ميزان المدفوعات للمشاكل عادة عندما تتجاوز مدفوعاته الخارجية مدفوعات الصرف الأجنبي، فإنه يتحكم في كامل صفقات الصرافة (النقد الأجنبي) وينظم نظام الدفع لصالحه.
منذ بداية الحرب العالمية الثانية في عام 1939 واجهت الهند نقصا في النقد الاجنبى من أجل تطويرها و نموها. وقد بدأ العمل في الأصل بقانون تنظيم العملات الأجنبية اعتبارا من آذار / مارس 1947، ثم أدخل في وقت لاحق قانون جديد يعرف باسم قانون تنظيم العملات الأجنبية (فيرا) 1973 اعتبارا من 1 كانون الثاني / يناير 1974.
Under this Act, RBI is empowered to regulate foreign exchange outgo and inflow, for example, we cannot buy everything we need from abroad and pay for it in forex.
Trade side imports, i. e., merchandise imports are regulated by Director General Foreign Trade in the Ministry of Commerce. Payment for invisible transactions like tourism, foreign visit, dividend/interest payment, etc. is regulated by RBI.
Similarly, all forex received or earned by residents in India, like exporters and rela­tives of NRIs [Non-resident Indian] should be surrendered to banks having license from RBI to deal in forex. However, since 1992, the receivers of forex are permitted to retain certain part of this forex in a separate foreign currency account if they so desire. Such account is known as Exchange Earners' Foreign Currency Account or EEFC Account.
Fur­ther, since 1994 many controls exercised by RBI on forex payments were relaxed. These days the RBI regulates forex transactions only to a minimum level and soon the Act, FERA may be replaced by a new Foreign Exchange Management Act.
While the purchase and sale of forex, maintenance of foreign exchange reserves/gold, are handled in the Depart­ment of External Investment and operations the control and regulations of various other forex transactions are handled in the Exchange Control Department of Reserve Bank of India.
The RBI by its operation of credit control and price stability maintains the internal value of domestic currency and ensures its stability.
In terms of preamble to RBI Act, the Bank is also required to maintain external, value of the Rupee. It, however, depends upon many factors like inflation levels, interest rates Balance of payments situation, etc., ruling in different countries on which RBI does not have control. Earlier, till 1993 the RBI uses to prescribe the Exchange Rate of Rupee.
The external value of rupee is now determined by market forces. RBI by virtue of its position as the Central Bank of the country and custodian of large forex reserves can influence the level of External Value in the short run.
Publishes the Economic Statistics and Other Information.
The RBI collects statistics on economic and financial matters. It publishes periodically an analytical account of the operations of joint stock and co-operative banks. It presents the genuine financial position of the government and companies.
The publications like the report on currency and finance, the report on the trend and progress of banking in India, the review of co-operative movement present a critical account and a balanced review of banking developments commercial, economic and financial conditions of the country.
Fights against Economic Crisis.
The RBI aims at economic stability in the country whenever, there is a danger to the economic stability, it takes immediate measures to put the economy on proper course by effective policy changes and implementation thereof.
These are non-monetary functions. وهي تشمل ما يلي:
The RBI institutionalizes saving through the promotion of banking habit and expan­sion of the banking system territorially and functionally.
Accordingly RBI has set up De­posit Insurance Corporation in 1962, Unit Trust of India in 1964, the IDBI in 1964, the Agri­cultural Refinance Corporation in 1963, Industrial Reconstruction Corporation of India in 1972, NABARD in 1982 and the National Housing Bank in 1988, etc.
It has helped to bring into existence several industrial finance corporations such as Industrial Finance Corpora­tion of India, Industrial Credit and Investment Corporation of India for industrialization of the country. Similarly sector specific corporations took care of development in their respec­tive spheres of activity.
The RBI takes the initiative for widening facilities for the provision of finance for for­eign trade particularly of exports.
The Export Credit and Guarantee Corporation (ECGC) and Exam Banks render useful functions on this line. To encourage exports the RBI is providing refinance facilities for export credit given by commercial banks. Further the rate of interest on export credits con­tinues to be prescribed by RBI at a lower rate.
The ECGC provides an insurance cover on Export receivables. EXIM Bank extends long term finance to project exporters and foreign currency credit for promotion of Indian exports. Students should know that many of these institutions were part of Reserve Bank earlier although they are currently functioning as separate financial institutions.
3. Facilities for Agriculture.
The RBI extends indirect financial facilities to agriculture regularly. Through NABARD it provides short-term and long-term financial facilities to agriculture and allied activities. It established NABARD for the overall administration of agricultural and rural credit. Indian agriculture would have starved of a cheap credit but for the institutionalization of rural credit by RBI.
The Reserve Bank was extending financial assistance to the rural sector mainly through contributions to the National Rural Credit Funds being operated by NABARD. RBI pres­ently makes only a symbolic contribution of Rs.1.00 crore.
It, however, extends cheap indi­rect financial assistance to the agricultural sector by providing large sums of money through General Line of Credit to NABARD. The loans and advances extended to NABARD by RBI and outstanding as on June 1999 amounted to Rs.5073 crore.
4. Facilities to Small Scale Industries.
The RBI takes active steps to increase the supply of credit to small industries. It gives directives to the commercial banks regarding the extension of credit facilities to small scale industries. It encourages commercial banks to provide guarantee services to SSI sector. Banks advances to SSI sector are classified under priority sector advances.
SSI sector contributes to a very great extent to employment opportunities and for Indian Exports. Keeping this in view, RBI has directed commercial banks to open specialized SSI bank branches to provide adequate financial and technical assistance to SSI branches. There are around 30 lakh SSI units operating in India. Meeting their financial needs is one of the prime concerns of RBI.
RBI extends indirect financing to State Co-operative Banks thereby connects the co­operative sector with the main banking system of the country. The finance is mostly, is routed through NABARD. This way the financial needs of agricultural sector are taken care of by RBI.
6. Prescription of Minimum Statutory Requirements for Banks.
The RBI prescribes the minimum statutory requirements such as, paid up capital, re­serves, cash reserves, liquid assets, etc. RBI prescribes reserves requirements both under Banking Regulation Act and RBI Act to ensure different objectives.
For example, SLR pre­scription is done to ensure liquidity position of the bank. CRR prescription is done to have effective monetary control and money supply. Statutory Reserves Appropriation is done to ensure sound banking system, etc.
It also asks banks to set aside provisions against pos­sible bad loans. With these functions, it exercises control over the monetary and banking systems of the country to ensure growth, price stability and sound banking practices.
The Reserve Bank of India performs the following supervisory functions. By these functions it controls and administers the entire financial and banking systems of the country.
1. Granting License to Banks.
The RBI grants license to the banks, which like to commence their business in India. Licenses are also required to open new branches or closure of branches. With this power.
RBI can ensure avoidance of unnecessary competitions among banks in particular location evenly growth of banks in different regions, adequate banking facility to various regions, etc. This power also helps RBI to weed out undesirable people from starting banking business.
2. Function of Inspection and Enquiry.
RBI inspects and makes enquiry in respect of various matters covered under Banking Regulations Act and RBI Act. The inspection of commercial banks and financial institu­tions are conducted in terms of the provisions contained in Banking Regulation Act.
These refer to their banking operations like loans and advances, deposits, investment functions and other banking services. Under such inspection RBI ensures that the banks and finan­cial institutions carry on their operations in a prudential manner, without taking undue risk but aiming at profit maximization within the existing rules and regulations.
This type of inspection is carried on periodically once a year or two covering all branches of banks. Banks are obliged to take remedial measures on the lapses / deficiencies pointed out dur­ing inspection. In addition RBI also calls for periodical information concerning certain assets and liabilities of the banks to verify that the banks continue to remain in good health.
This type of inspection / verification is known as off - site inspection. The RBI team visiting bank offices to conduct verification of books and records is known as on - site inspection. RBI inspects banks under RBI Act only when there is a threat to close down a bank for mismanagement and there is a need to verify the fulfillment of conditions for the status of 'scheduled bank'.
RBI presently conducts inspection of commercial banks, Development Financial Institutions like IDBI, NABARD, etc. Urban Co - operative Banks and non banking financial companies like Lease Financing Companies, Loan Companies.
3. Implementing the Deposit Insurance Scheme.
RBI Implements the Deposit Insurance Scheme for the benefit of bank depositors. This supervisory function has improved the standard of banking in India due to this confidence building exercise. Under this system, deposits up to Rs.1.00 lakh with the bank branch are guaranteed for payment. Deposits with the banking system alone are covered under the scheme.
For this purpose banking system include accounts maintained with commercial banks, co - operative banks and RRBs. Fixed Deposits with other financial institutions like ICICI, IDBI, etc. and those with financial companies are not covered under the scheme. ICICI is since merged with ICICI Bank Ltd. and IDBI is getting converted into a bank.
4. Periodical Review of the Working of the Commercial Banks.
The RBI periodically reviews the work done by commercial banks. It takes suitable steps to enhance the efficiency of the banks and make various policy changes and imple­ment programmes for the well-being of the nation and for improving the banking system as a whole.
5. Controls the Non-Banking Financial Corporations.
RBI issues necessary directions to the Non-Banking financial corporations and con­ducts inspections through which it exercises control over such institutions. Deposit taking NBFCs require permission from RBI for their operations.
EXTERNAL COMMERCIAL BORROWINGS (ECB)
RELEASE OF FOREIGN EXCHANGE BY AUTHORISED DEALERS.
(a) External Commercial Borrowings (ECB) refer to commercial loans [in the form of bank loans, buyers’ credit, suppliers’ credit, securitised instruments (e. g. floating rate notes and fixed rate bonds)] availed from non-resident lenders with minimum average maturity of 3 years.
(b) Foreign Currency Convertible bonds (FCCBs) mean a bond issued by an Indian company expressed in foreign currency, and the principal and interest in respect of which is payable in foreign currency. Further the bonds are required to be issued in accordance with the scheme viz., “Issue of Foreign Currency convertible bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993”, and subscribed by a non-resident in foreign currency and convertible into ordinary shares of the issuing company in any manner, either in whole, or in part, on the basis of any equity related warrants attached to debt instruments. The policy for ECB is also applicable to FCCBs. The issue of FCCBs are also required to adhere to the provisions of Notification FEMA No. 120/RB-2004 dated July 7, 2004 as amended from time to time.
(c) ECB can be accessed under two routes, viz., (i) Automatic Route outlined in Paragraph I (A) and (ii) Approval Route outlined in paragraph I (B).
(d) ECB for investment in real sector ‘industrial sector, especially infrastructure sector-in India, are under Automatic Route, i. e. do not require RBI/Government approval. In case of doubt as regards eligibility to access Automatic Route, applicants may take recourse to the Approval Route.
(a) Corporates (registered under the companies Act except financial intermediaries (such as banks, financial institutions (FIs), housing fnance companies and NBFCs) are eligible to raise ECB. Individuals, Trusts and Non-
Profit making Organisations are not eligible to raise ECB.
(b) Units in Special Economic Zones (SEZ) are allowed to raise ECB for their own requirement. However, they cannot transfer or on-lend ECB funds to sister concerns or any unit in the Domestic Tariff Area.
Borrowers can raise ECB from internationally recognised sources such as (i) international banks, (ii) international capital markets, (iii) multilateral financial institutions (such as IFC, ADB, CDC, etc.,), (iv) export credit agencies, (v) suppliers of equipment,(vi) foreign collaborators and (vii) foreign equity holders (other than erstwhile OCBs). A “foreign equity holder’ to be eligible as “recognized lender’ under the automatic route would require minimum holding of equity in the borrower company as set out below:
(i) For ECB up to USD 5 million ‘ minimum equity of 25 per cent held directly by the lender.
(ii) For ECB more than USD 5 million ‘ minimum equity of 25 per cent held directly by the lender and debt-equity ratio not exceeding 4:1 (i. e. the proposed ECB not exceeding four times the direct foreign equity holding).
(a) The maximum amount of ECB which can be raised by a corporate is USD 500 million or equivalent during a financial year.
(b) ECB up to USD 20 million or equivalent in a financial year with minimum average maturity of three years.
(c) ECB above USD 20 million and upto USD 500 million or equivalent with a minimum average maturity average.
maturity of five years.
(d) ECB upto USD 20 million can have call / put option provided the minimum average maturity of three years is.
complied with before exercising call / put option.
All-in-cost includes rate of interest, other fees and expenses in foreign currency except commitment fee, pre-payment fee, and fees payable in Indian Rupees. Moreover, the payment of withholding tax in Indian Rupees is excluded for calculating the all-in-cost. The all-in-cost ceilings for ECB are reviewed from time to time. The following ceilings are valid till reviewed:
* for the respective currency of borrowing or applicable benchmark.
(a) Investment e. g. import of capital goods (as classified by DGFT in the Foreign Trade Policy), by new or existing production units, in real sector - industrial sector including small and medium enterprises (SME) and infrastructure sector ‘ in India. Infrastructure sector is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, and (vii) urban infrastructure (water supply, sanitation and sewage projects);
(b) Overseas direct investment in Joint Ventures (JV) / Wholly Owned Subsidiaries (WOS) subject to the existing.
guidelines on Indian Direct Investment in JV/WOS abroad.
(a) Utilisation of ECB proceeds is not permitted for on-lending or investment in capital market or acquiring a company (or a part thereof) in India by a corporate,
(b) Utilisation of ECB proceeds is not permitted in real estate,
(c) Utilisation of ECB proceeds is not permitted for working capital, general corporate purpose and repayment of existing Rupee loans.
Issuance of guarantee, standby letter of credit, letter of undertaking or letter of comfort by banks, Financial Institutions and Non-Banking Financial Companies (NBFCs) relating to ECB is not permitted.
The choice of security to be provided to the lender / supplier is lefit to the borrower. However, creation of charge over immovable assets and financial securities, such as shares, in favour of the overseas lender is subject to Regulation 8 of Notification No. FEMA 21/RB - 2000 dated May 3, 2000 and Regulation 3 of Notification No. FEMA 20/RB - 2000 dated May 3, 2000 respectively, as amended from time to time.
ix) Parking of ECB proceed overseas.
ECB raised for foreign currency expenditure for permissible end-uses shall be parked overseas and not to be remitted to India. ECB proceeds parked overseas can be invested in the following liquid assets (a) deposits or Certifcate of Deposit or other products offered by banks rated not less than AA (-) by Standard and Poor / Fitch IBCA or Aa3 by Moody’s; (b) deposits with overseas branch of an Authorised Dealer in India; and (c) Treasury bills and other monetary instruments of one year maturity having minimum rating as indicated above. The funds should be invested in such a way that the investments can be liquidated as and when funds are required by the borrower in India.
Prepayment of ECB upto USD 500 million may be allowed by AD banks without prior approval of RBI subject to compliance with the stipulated minimum average maturity period as applicable to the loan.
xi) Refinancing of an existing ECB.
The existing ECB may be refinanced by raising a fresh ECB subject to the condition that the fresh ECB is raised at a lower all-in-cost and the outstanding maturity of the original ECB is maintained.
The designated Authorised Dealer (AD bank) has the general permission to make remittances of installments of principal, interest and other charges in conformity with ECB guidelines issued by Government / Reserve Bank of India from time to time.
Borrowers may enter into loan agreement complying with ECB guidelines with recognised lender for raising ECB under Automatic Route without prior approval of RBI. The borrower must obtain a Loan Registration Number (LRN) from the Reserve Bank of India before drawing down the ECB. The procedure for obtaining LRN is detailed in para II (i) (b).
The following types of proposals for ECB are covered under the Approval Route.
ا). Financial institutions dealing exclusively with infrastructure or export fnance such as IDFC, IL&FS, Power Finance Corporation, Power Trading Corporation, IRCON and EXIM Bank are considered on a case by case basis.
ب). Banks and financial institutions which had participated in the textile or steel sector restructuring package as approved by the Government are also permitted to the extent of their investment in the package and assessment by Reserve Bank based on prudential norms. Any ECB availed for this purpose so far will be deducted from their entitlement.
c). ECB with minimum average maturity of 5 years by Non-Banking Financial Companies (NBFCs) from multilateral financial institutions, reputable regional financial institution, official export credit agencies and international banks to fnance import of infrastructure equipment for leasing to infrastructure projects.
d). Foreign Currency Convertible Bonds (FCCBs) by housing fnance companies satisfying the following minimum criteria: (i) the minimum net worth of the financial intermediary during the previous three years shall not be less than Rs.500 cores, (ii) a listing on the BSE or NSE, (iii) minimum size of FCCB is USD 100 million, (iv) the applicant should submit the purpose / plan of utilization of funds.
e). Special Purpose Vehicles, or any other entity notified by the Reserve Bank, set upto fnance infrastructure companies / projects exclusively, will be treated as Financial Institutions and ECB by such entities will be considered under the Approval Route.
f). Multi-State Co-operate Societies engaged in manufacturing activity satisfying the following criteria (i) the Co-operative Society is fnancially solvent and (ii) the Co-operative Society submits its up-to-date audited balance sheet.
g). Corporates engaged in industrial sector and infrastructure sector in India can avail ECB for Rupee expenditure for permissible end-uses.
h). Non-Government Organisations (NGOs) engaged in micro fnance activities are eligible to avail ECB for Rupee expenditure for permissible end-uses. Such NGO (i) should have a satisfactory borrowing relationship for at least 3 years with a scheduled commercial bank authorised to deal in foreign exchange and (ii) would require a certificate of due diligence on ‘fit and proper’ status of the board / committee of management of the borrowing entity from designated AD Bank.
i). Corporate in services sector viz. hotels, hospitals and software companies can avail ECB for import of capitalgoods.
j). Cases falling outside the purview of the automatic route limits and maturity period indicated at paragraph I A (iii).
(a) Borrowers can raise ECB from internationally recognised sources such as (i) international banks, (ii) international capital markets, (iii) multilateral financial institutions (such as IFC, ADB, CDC, etc.), (iv) export credit agencies, (v) suppliers’ of equipment, (vi) foreign collaborators and (vii) foreign equity holders (other than erstwhile OCBs)
(b) From ‘foreign equity holder’ where the minimum equity held directly by the foreign equity lender is 25 per cent but debt-equity ratio exceeds 4:1 (i. e. the proposed ECB exceeds four times the direct foreign equity holding).
(c) Overseas organisations and individuals complying with following safeguards may provide ECB to Non-Government Organisations (NGOs) engaged in micro fnance activities.
(i) Overseas Organisations proposing to lend ECB would have to furnish a Certifcate of due diligence from an overseas bank which in turn is subject to regulation of host-country regulator and adheres to Financial Action Task Force (FATF) guidelines to the AD bank of the borrower. The certificate of due diligence should comprise the following (i) that the lender maintains an account with the bank for at least a period of two years, (ii) that the lending entity is organised as per the local law and held in good esteem by the business / local community and (iii) that there is no criminal action pending against it.
(ii) Individual Lender has to obtain a certificate of due diligence from an overseas bank indicating that the lender maintains an account with the bank for at least a period of two years. Other evidence / documents such as audited statement of account and income tax return which the overseas lender may furnish need to be certifed and forwarded by the overseas bank. Individual lenders from countries wherein banks are not required to adhere to Know Your Customer (KYC) guidelines are not eligible to extend ECB.
(a) Corporates can avail of ECB of an additional amount of USD 250 million with average maturity of more than 10 years under the approval route, over and above the existing limit of USD 500 million under the automatic route, during a financial year. Other ECB criteria such as end-use, all-in-cost ceiling, recognised lender, etc., need to be complied with. Prepayment and call / put options, however, would not be permissible for such ECB upto a period of 10 years.
(b) Corporates in infrastructure sector can avail ECB up to USD 100 million and Corporates in industrial sector can avail ECB up to USD 50 million for Rupee capital expenditure for permissible end - uses within the overall limit of USD 500 million per borrower, per financial year, under Automatic Route.
(c) NGOs engaged in micro fnance activities can raise ECB up to USD 5 million during a financial year. Designated AD bank has to ensure that at the time of drawdown the forex exposure of the borrower is hedged.
(d) Corporates in the services sector viz. hotels, hospitals and software companies can avail ECB up to USD 100 million, per borrower, per financial year, for import of capital goods.
All-in-cost includes rate of interest, other fees and expenses in foreign currency except commitment fee, pre-payment fee, and fee payable in Indian Rupees. Moreover, the payment of withholding tax in Indian Rupees is excluded for calculating the all-in-cost.
The current all-in-cost ceilings are as under: The following ceilings are valid till reviewed:
* For the respective currency of borrowing or applicable benchmark.
(b) Overseas direct investment in Joint Ventures (JV) / Wholly Owned Subsidiaries (WOS) subject to the existing.
guidelines on Indian Direct investment in JV/WOS abroad.
(c) The first stage acquisition of shares in the disinvestment process and also in the mandatory second stage offer to the public under the Government’s disinvestment programme of PSU shares.
(d) Import of capital goods by Corporates in the service sector, viz., hotels, hospitals and software companies.
(a) Utilisation of ECB proceeds is not permitted for on-lending or investment in capital market or acquiring a company (or a part thereof) in India by a corporate except banks and financial institutions eligible under paragraph I(B)(i)(A) and I(b)(i)(b),
(b) Utilisation of ECB proceeds is not permitted in real estate,
(c) Utilisation of ECB proceeds is not permitted for working capital, general corporate purpose and repayment of.
existing Rupee loans.
Issuance of guarantee standby letter of credit, letter of undertaking or letter of comfort by banks, financial institutions and NBFCs relating to ECB is not normally permitted Applications for providing guarantee / standby letter of credit or letter of comfort by banks, financial institutions relating to ECB in the case of SME will be considers on merit subject to prudential norms. With a view to facilitating capacity expansion and technological upgradation in Indian Textile industry issue of guarantees, standby letters of credit, letters of undertaking and letters of comfort by banks in respect of ECB by textile companies for modernization or expansion of textile units will be considered under the Approval Route subject to prudential norms.
The choice of security to be provided to the lender / supplier is lefit to the borrower. However, creation of charge over immovable assets and financial securities, such as shares, in favour of the overseas lender is subject to Regulation 8 of Notification No. FEMA 21/RB-2000 dated May 3, 2000 and Regulation 3 of Notification No. FEMA 20/RB-2000 dated May 3, 2000 as amended from time to time, respectively.
ix). Parking of ECB proceeds overseas.
ECB raised for foreign currency expenditure for permissible end - uses shall be parked overseas and not remitted to India and ECB raised for Rupee expenditure for permissible end - uses shall be parked overseas until actual requirement in India. ECB proceeds parked overseas can be invested in the following liquid assets (a) deposits or certificate of deposits or other products offered by banks rated not less than AA(-) by Standard and Poor / Fitch IBCA or Aa3 by Moody’s; (b) deposits with overseas branch of an AD bank in India; and (c) Treasury bills and other monetary instruments of one year maturity having minimum rating as indicated above. The funds should be invested in such a way that the investments can be liquidated as and when funds are required by the borrower in India.
(a) Prepayment of ECB upto USD 500 million may be allowed by AD bank without prior approval of Reserve Bank.
subject to compliance with the stipulated minimum average maturity period as applicable to the loan.
(b) Pre-payment of ECB for amounts exceeding USD 500 million would be considered by the Reserve Bank under.
the Approval Route.
xi). Refinancing of an existing ECB.
Existing ECB may be refinanced by raising a fresh ECB subject to the condition that the fresh ECB is raised at a lower all-in - cost and the outstanding maturity of the original ECB is maintained.
The designated AD bank has general permission to make remittances of instalments of principal, interest and other charges in conformity with ECB guidelines issued by Government / Reserve Bank of India from time to time.
Applicants are required to submit an application in form ECB through designated AD bank to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Central Office , Central Office , External Commercial Borrowings Division, Mumbai ‘ 400 001, along with necessary documents.
Reserve Bank has set up an Empowered Committee to consider proposals coming under the Approval Route.
II. REPORTING ARRANGEMENTS AND DISSEMINATION OF INFORMATION.
ا). With a view to simplify the procedure, submission of copy of loan agreement is dispensed with.
ب). For allotment of loan registration number, borrowers are required to submit Form 83, in duplicate, certifed by the Company Secretary (CS) or Chartered Accountant (CA) to the designated AD bank. One copy is to be forwarded by the designated AD bank to the Director, Balance of Payments Statistics Division, Department of Statistics and Information System (DSIM), Reserve Bank of India, Bandra-Kurla Complex, Mumbai ‘ 400 051 [Note: copies of loan agreement, offer documents for FCCB are not required to be submitted with Form 83].
c). The borrower can draw-down the loan only after obtaining the loan registration number from DSIM, Reserve Bank of India.
d). Borrowers are required to submit ECB-2 Return certifed by the designated AD bank on monthly basis so as to reach DSIM, RBI within seven working days from the close of month to which it relates.
[ Note: All previous returns relating to ECB viz. ECB 3 ‘ECB 6 have been discontinued with effect from January 31, 2004].
ii). Dissemination of Information.
For providing greater transparency, information with regard to the name of the borrower, amount, purpose and maturity of ECB under both Automatic Route and Approval Route are put on the Reserve Bank website on a monthly basis with a lag of one month to which it relates.
III. STRUCTURED OBLIGATIONS.
In order to enable Corporates to raise resources domestically and hedge exchange rate risks, domestic rupee denominated structured obligations are permitted to be credit enhanced by international banks / international financial institutions / joint venture partners. Such applications will be considered under the Approval Route.
The primary responsibility to ensure that ECB raised / utilised are in conformity with the ECB guidelines and the Reserve Bank regulations / directions is that of the concerned borrower and any contravention of the ECB guidelines will be viewed seriously and will invite penal action under FEMA 1999 ( cf. A. P. (DIR Series) Circular No.31 dates February 1, 2005). The designated AD bank is also required to ensure that raising / utilisation of ECB is in compliance with ECB guidelines at the time of certification .
(أنا). Conversion of ECB into equity is permitted subject to the following conditions:
(a) The activity of the company is covered under the Automatic Route for Foreign Direct investment or Government.
approval for foreign equity participation has been obtained by the company,
(b) The foreign equity holding after such conversion of debt into equity is within the sectoral cap, if any,
(c) Pricing of shares is as per SEBI and erstwhile CCI guidelines / regulations in the case listed / unlisted companies as the case may be.
(ب). Conversion of ECB may be reported to the Reserve Bank as follows:
(a) Borrowers are required to report full conversion of outstanding ECB into equity in the form FC-GPR to the concerned Regional Office of the Reserve Bank as well as in form ECB-2 submitted to the DSIM, RBI within seven.
working days from the close of month to which it relates. The words “ECB wholly converted to equity” should be clearly indicated on top of the ECB-2 form. Once reported, filing of ECB-2 in the subsequent months is not necessary.
(b) In case of partial conversion of outstanding ECB into equity, borrowers are required to report the converted.
portion in form FC-GPR to the concerned Regional Office as well as in form ECB-2 clearly differentiating the converted portion from the unconverted portion. The words “ECB partially converted to equity” should be indicated on top of the ECB-2 form. In subsequent months, the outstanding portion of ECB should be reported in ECB-2 form to DSIM.
AD banks design to crystallize their foreign exchange liability arising out of guarantees provided for ECB raised by corporates in India into Rupees, may make an application to the Chief General Manager-in-Charge, Foreign Exchange Department, External Commercial Borrowing Division, Reserve Bank of India, Central Office , Mumbai, giving full details viz., name of the borrower, amount raised, maturity, circumstances leading to invocation of guarantee / letter of comfort, date of default, its impact on the liabilities of the overseas branch of the AD concerned and other relevant factors.
VII. ECB UNDER THE ERSTWHILE USD 5 MILLION SCHEME.
Designated AD banks are permitted to approve elongation of repayment period for loans raised under the erstwhile USD 5 Million Scheme, provided there is a consent letter from the overseas lender for such reschedulement without any additional cost. Such approval with existing and revised repayment schedule along with the Loan Key / Loan Registration Number should be initially communicated to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Central Office , ECB Division, Mumbai within seven days of approval and subsequently in ECB ‘ 2.
TRADE CREDITS FOR IMPORTS INTO INDIA.
‘Trade Credits’ (TC) refer to credits extended for imports directly by the overseas supplier, bank and financial institution for maturity of less than three years. Depending on the source of fnance, such trade credits include suppliers’ credit or buyers’ credit. Suppliers credit relates to credit for imports in to India extended by the overseas supplier, while buyers’ credit refers to loans for payment of imports in to India arranged by the importer from a bank or financial institution outside India for maturity of less than three years. It may be noted that buyers’ credit and suppliers’ credit for three years and above come under the category of External Commercial Borrowings (ECB) which are governed by ECB guidelines.
AD banks are permitted to approve trade credits for imports into India up to USD 20 million per import transaction for imports permissible under the current Foreign Trade Policy of the DGFT with a maturity period up to one year (from the date of shipment). For import of capital goods as classified by DGFT, AD banks may approve trade credits up to USD 20 million per import transaction with a maturity period of more than one year and less than three years. No roll-over / extension will be permitted beyond the permissible period.
AD banks shall not approve trade credit exceeding USD 20 million per import transaction.
The current all-in-cost ceilings are as under.
*For the respective currency of credit or applicable benchmark.
The all-in-cost ceilings include arranger fee, upfront fee, management fee, handling / processing charges, out of pocket and legal expenses, if any.
AD Bank are permitted to issue Letters of Credit / guarantees / Letter of Undertaking (LoU) / Letter of Comfort (LoC) in favour of overseas supplier, bank and financial institution, upto USD 20 million per transaction for a period up to one year for import of all non-capital goods permissible under Foreign Trade Policy (except gold) and up to three years for import of capital goods, subject toprudential guidelines issued by Reserve Bank from time to time. The period of such Letters of credit / guidelines / LoU / LoC has to be co-terminus with the period of credit, reckoned from the date of shipment.
AD banks are required to furnish details of approvals, drawal, utilisation, and repayment of trade credit granted by all its branches, in a consolidated statement, during the month, in form TC from April 2004 onwards to the Director, Division of International Finance, Department of Economic Analysis and Policy, Reserve Bank of India, Central Office Building, 8th Floor, For, Mumbai ‘ 400 001 (and in MS-Excel file through email to ) so as to reach not later than 10th of the following month. Each trade credit may be given a unique identification number by the AD bank.
AD banks are required to furnish data on issuance of LCs / guarantees / LoU / LoC by all its branches, in a consolidated statement, at quarterly intervals to the Chief General Manager-in-Charge, Foreign Exchange Department, ECB Division, Reserve Bank of India, Central Office Building, Fort, Mumbai ‘ 400 001 (and in MS-Excel file through email to ) from December 2004 onwards so as to reach the department not later than 10th of the following month.
Our objective is to encourage Indian exporters to invest more in their R&D spend to develop new products and processes that will enhance export capabilities. With the need to bridge the funding gap of Indian exporters in the research space at our core, we have a dedicated R&D Financing Programme. Under this programme, financing can be extended to any export oriented company. Alternatively, a special purpose vehicle promoted by the company can be created irrespective of the nature of the industry.
We understand that a primary obstacle for Indian exporters is the lack of a dependable source of financing. We attempt to bridge this gap by extending export credit to Indian exporters to meet a wide range of their trade financing requirements. We provide working capital finance by way of pre-shipment credit and post-shipment credit. We also extend non-fund based limits including issuance of Letters of Credit (both foreign & inland) and Bank Guarantees (both foreign & inland) as part of our export credit assistance to clients. The credit limits are generally operated as a running account facility. The facilities can be drawn in either Indian Rupee or Foreign Currency.
In order to enhance international competitiveness and the capabilities of export-oriented Indian companies, we provide term loans to finance various capital expenditures including certain soft expenditures of such companies. Loans or guarantees are extended for the expansion, modernization, upgradation or diversification projects. This includes acquisition of equipment, technology export marketing, export product development and setting up of Software Technology Parks.
We offer a comprehensive range of products and services covering financial needs of borrower companies at all stages of business cycle to enhance the competitiveness of Indian companies. The Companies involved in manufacturing/services, having only domestic operation and no exports, are eligible for financing from Exim Bank for import of equipment/machineries for domestic projects. Financing is done towards bulk import of machineries, services for capacity expansion, modernization and infrastructure projects.
We extend credit to eligible export oriented enterprises to enhance the export capability creation through financing non-project related equipment procurement. We offer loan for acquisition of plant and machinery, purchase of ancillary equipment including equipment for packaging, pollution control, utilities, quality assurance etc. The loans are flexible and can be extended for equipment procurement for balancing, replacement, modernization and capacity up-gradation.
There is no information on the FX United website indicating who owns or runs the business.
A New Zealand “certificate of incorporation” for the entity “United Global Holdings Limited” is provided on the FX United website, however the relationship between the two companies is unclear.
The incorporation certificate shows that United Global Holdings Limited was incorporated on the 23rd of May, 2017.
The New Zealand address provided on the certificate is also used by numerous other businesses, suggesting it’s little more than a rented mailing address. As such, FX United would appear to exist in New Zealand in name only.
Two Directors are listed on the certificate, Rujina Begum and Priscila Lamoste Lustre.
A UK address is provided for Begum, which once again is used by a number of businesses. A residential address in Queensland, Australia is provided for Lustre.
Rujina Begum is also a listed Director for something called United Gateway Asia Limited, a former New Zealand corporation struck off in December last year.
Of the two listed Directors, Begum (right) is likely running FX United. Her name appears as the listed owner of the FX United website domain, which was first registered on October 15th, 2006.
The domain registration was last updated on August 12th, 2017, which is likely when Begum obtained it.
On her LinkedIn profile, Begum refers to herself as a “compliance officer” for Rational FX.
Rational FX is a foreign exchange business operating out of London.
Read on for a full review of the FX United MLM business opportunity.
FX United has no retailable products or services, with affiliates only able to market FX United affiliate membership itself.
The FX United compensation plan sees affiliates deposit 0 to ,000 on the expectation of a ROI.
Purportedly this ROI is generated through foreign exchange, specifically “capital gain auto trading” (CGAT).
CGAT investments are made via a twelve month contract, with affiliates paid a 30% deposit bonus.
Affiliates can withdraw funds before twelve months for a fee (3%), but only if the balance in their account is 150% of what they initially invested.
FX United also charge a 1% month fee on every affiliate’s fund balance.
Referral commissions are paid out on ROIs paid out to recruited affiliates, via a unilevel compensation structure.
ويضع هيكل التعويضات غير المتكافئة شركة تابعة على رأس فريق من ذوي المستوى الفردي، مع وضع كل شركة تابعة تم تعيينها مباشرة تحتها (المستوى 1):
If a level 1 affiliates goes on to recruit new affiliates of their own, they are placed on level 2 of the original affiliate’s unilevel team.
إذا كان أي من الشركات التابعة من المستوى الثاني تجنيد شركات تابعة جديدة، يتم وضعها على المستوى 3 وهكذا دواليك وهكذا إلى أسفل عدد نظري لا حصر له من المستويات.
FX United cap payable unilevel levels at five, with commissions paid out as a percentage of the ROI affiliates on these levels receive:
Affiliate membership with FX United is free, however affiliates must invest at least 0 in order to participate in the income opportunity.
Whenever I come across a forex MLM opportunity, they’re always particularly vague about who’s running the show.
You get a generic looking website, generic sounding company name and a whole lot of confusion.
FX United is no different, and I can’t think of any legitimate reason for it to be registered in New Zealand, when it’s quite clearly being run out of the UK. Ditto why somebody in Queensland, Australia, is listed as a Director.
To me that just screams something dodgy is going on, either on the trading side of things or potentially money laundering. A lot of that could probably be ascertained by disclosure of where FX United keep deposited funds, but that’s not disclosed on their website.
What you’re left with is a questionable scheme that’s asking for thousands of dollars, on the promise of ROIs you don’t really know the origin of.
The deposit bonus sticks out as pretty suss, with FX United seemingly creating money out of nothing.
The way I see it, if they are able to offer a 30% deposit bonus on funds invested, why don’t they just take a small loan out, do whatever it is they’re doing and turn it into millions?
Why bog it down with a 30% liability on every dollar invested and five-level deep referral commissions that almost double the forex ROI liability?
Makes no sense to me.
The sum total of all of this is an opportunity that comes off as pretty suss. You don’t really know who’s running it, from where, or what they’re doing with your invested funds.
That’s not smart business, making FX United an opportunity you should probably stay clear of.
The Reserve Bank of India issued new guidelines on Tuesday on the reporting of bad debt and the working of the Joint Lenders' Forum (JLF).
Sensex rally has helped nation's largest financial investor book 19% more profit in March quarter.
May 14, 2017, Sunday.
On the flip side, resolution process could entail banks to take a haircut in their exposure to loans.
May 14, 2017, Sunday.
On the flip side, resolution process could entail banks to take a haircut in their exposure to loans.
June 19, 2017 by.
The career of investment advisors comes with great demand. They are the professional that provides exclusive assistance to the clients when the main area of concern is related with the financial matters. Whether it is equipped with retirement planning, insurance options and investment strategies, investment advisors are there to solve any type of problems related with monetary issues. If you are from India and planning to pursue your career as an investment advisor, you need to obtain proper registration certification that will facilitate you to work as an investment advisor.
Apply for registration certificate.
The first and foremost thing that you need to get the certification is to pass the examination of NISM or National Institute of Securities Market, namely ‘NISM Series V-A: Mutual Fund Distributors Certification Examination,’ On successful completion of the examination, you will get a certification from NISM. According the recent regulations, the willing candidates need to apply for the registration under the regulations of SEBI (Investment Advisers) Regulations, 2018 . Applicants need to fill up the form properly and submit the same along with required documents. It is worth to mention in this context, if the application is for individual entity, it requires submitting a photo while the organization does not require any photo.
In most of the cases, applicants will obtain the response of SEBI with four weeks. However, the time of the registration may vary based on how efficiently the applicants are able to fulfill the criteria. Before, apply for the registration certificate, it is highly recommended to go through the eligibility criteria of the registration. Along with the form A, applicants need to pay Rs. 5000 as the application fees. You need to draft this amount in favor of “The Securities and Exchange Board of India,” that is payable at Mumbai. Apart from this, the candidates also need to apply online by following the strict guidelines of the SEBI that is updated on a regular basis.
-Where the applicant is a bank or NBFC, it should be permitted by RBI to act as IA and the application should be made through a subsidiary or separately identifiable department or division.
-Where the applicant is a body corporate, other than a Bank or NBFC, the application should be made through a separately identifiable department or division.
-Where an entity incorporated outside India proposes to undertake IA services, the application should be made by the subsidiary in India of such foreign entity.
-Where a foreign citizen proposes to undertake IA services, the applicant should set up an office in India and undertake IA services through such office.
After receiving registration certificate.
After considering all the aspects of the applications, SEBI will grant a registration certificate to the applicants. After receiving the approval of the Securities and Exchange Board of India, the applicants need to pay a registration fee through the bank draft in favor of “The Securities and Exchange Board of India.” If the applicant is corporate the amount of registration fee is Rs. 1, 00,000, whereas the application fee for an individual is Rs. 10,000.
After receiving the registration certificate from SEBI, applicants can work as an investment advisor. However, in order to continue their career sans hassle and get up-to-date about the latest regulations, it is highly advisable to pay a visit to the official website of SEBI and find the latest news regarding the new circulars and updated guidelines. Moreover, they must also abide by requirements of reporting by SEBI from time to time. Do not ever deny the terms and conditions, renewal rules and various other aspects that can prevent you to enjoy the great career potential of investment advisor.
Where the applicant is a bank or NBFC, it should be permitted by RBI to act as IA and the application should be made through a subsidiary or separately identifiable department or division.
for more faqs about read this document from deloitte.
Financial Companies and Non-banking Finance Companies call the public to invest with them for a fixed time, carrying a prescribed rate. Company Fixed Deposits are like your deposits with […] Both Unit Linked Insurance Plan (ULIP) and Mutual Fund (MF) have found a lot of favour amongst the investors. With their varied features, both of them present investment opportunities, […] SEBI today in its circular announced the minimum contract size for equity derivatives from Rs.200,000 to Rs 5,00,000 effective from 30th October 2018 (Post October 2018 Expiry). It is […] Liquid fund belongs to the category of mutual fund which invests mainly in money market instruments like certificate of deposits, treasury bills, commercial papers and term deposits with a […] Quarter Sigma Order Size is the order size (price x Volume) required for the stock price movement of 1/4th of Standard deviation of the stock price and it should be greater than Rs10 lakh. […] In India, the financial system is regulated with the help of independent regulators, associated with the field of insurance, banking, commodity market, and capital market and also the […]
January 4, 2018 by.
Quarter Sigma Order Size is the order size (price x Volume) required for the stock price movement of 1/4th of Standard deviation of the stock price and it should be greater than Rs10 lakh. Higher the Quarter Sigma order Size means higher the liquidity and tougher for stock operators to manipulate the stock price movements to some extent.
August 20, 2017 by.
In India, the financial system is regulated with the help of independent regulators, associated with the field of insurance, banking, commodity market, and capital market and also the field of pension funds. Let us look in detail about the Financial Regulatory Bodies in India.
June 28, 2017 by.
Major E-commerce companies have stopped delivering goods in Kerala as the state government has levied tough rules regarding the sales tax. The state government does not permit these companies to sell products without paying the appropriate taxes.
June 24, 2017 by.
SEBI( Securities and Exchange Board of India) has very recently changed its rules and regulations of crowdfunding. If you do not have any idea on the term crowdfunding, it is worth to mention that the term crowdfunding refers to the solicitation of funds from several investors. This process is done through various social networking sites or web based platform to accomplish a particular project or social cause or any business venture.
June 19, 2017 by.
The career of investment advisors comes with great demand. They are the professional that provides exclusive assistance to the clients when the main area of concern is related with the financial matters. Whether it is equipped with retirement planning, insurance options and investment strategies, investment advisors are there to solve any type of problems related with monetary issues. If you are from India and planning to pursue your career as an investment advisor, you need to obtain proper registration certification that will facilitate you to work as an investment advisor.
June 11, 2017 by.
It is evident that holders of physical shares are mostly senior citizens that find it pretty impossible and difficult to convert the same in demat format. A recent study has brought into the limelight that about 300 crore shares of the present Sensex companies are available in physical form. There is hardly any room of doubt that dematerializing of your share would allow you to avoid the risk of losing the certificate or duplicating the same.
January 23, 2018 by.
Dabba means box and a dabba operator, in stock market terminology is the one who indulges in dabba trading. His office is like any other broker’s office having terminals linked to the stock exchange showing market rates of stocks. However, the difference is that the investor’s trades do not get executed on the stock exchange system but in the dabba operator’s books only.

WHAT ARE THE RBI GUIDELINES FOR FOREX TRADING INDIA?
With our economy being as dynamic as it is, it would hardly be possible for most to be aware of the present economic conditions. Equity trading, mutual funds, and Forex trading has taken over the economy by storm, being the cause of upsurge in the financial growth of the country.
While keeping track of stock and equities is something that everyone does, most have no clue as to what is Forex. Foreign exchange, or Forex as most people know it as, is the trading of currencies. Forex trading is carried out all over the world in order to carry out foreign trade. Those frequently travelling to other countries, too, need to have the currency of the country they are travelling to with them to survive.
While Forex trading is considered illegal in most cases, Forex trading in India is possible if the Reserve Bank of India (RBI) guidelines for the same are followed. Some of the rules regarding Forex trading are mentioned below:
1. You can only carry out currency derivatives trading on exchange platforms recognised and permitted by Securities and Exchange Board of India (SEBI) and RBI.
2. The stock exchange platforms that you are legally allowed to trade in are National Stock Exchange, United Stock Exchange, and MCX-SX.
3. While one could only trade in INR/Dollar pairs earlier, more pairs were introduced later, leading to derivatives of Dollars, Euro, Great Britain Pound (GBP), and Japanese Yen being traded currently by those wishing to trade Forex.
4. One can only carry out contract settlements, guaranteed by the exchange, through cash, and in Indian currency.
These guidelines provided by the RBI and SEBI ensure legal forex trading in India which in turn ensures economic growth. While many can be seen trading Forex through illegal online portals and forums, trading Forex legally offers a guarantee and sense of security that those into illegal trading lack.
عن طريق التصفيق أكثر أو أقل، يمكنك أن تشير لنا القصص التي تبرز حقا.

Forex trading in india rbi guidelines 2018

April 9, 2018 by.
I requested Aalma Edwards(Finanical Blogger) to analyze and present a case study on Overseas Forex trading from India and its legality in India. هنا هو أول تقرير ضيفه على تداول العملات الأجنبية في الهند.
In  India, Foreign Exchange or Forex trading is not allowed. If someone is found trading Forex instruments on the forex market by the Reserve Bank of India’s representatives, he/she is immedia tely charged of violation of law. ومن ثم فإنه من الناحية القانونية جريمة أن تشارك في تداول العملات الأجنبية وتهم الجريمة هي السجن في هذا البلد. وتعتبر الجريمة هائلة، ويمكن استنباط التنبؤ بالكثافة من هذه الحقيقة التي وصفت بأنها غير قابلة للإنقاذ.
However it is legal to like NSE, BSE, MCX-SX where they currently offer 4 pairs(USDINR, JPYINR, GBPINR, EURINR) in Derivatives (Futures and Options Segment). حتى إذا كنت تتداول مع الوسطاء الهنود الذين لديهم عضوية مع التبادلات الهندية المذكورة أعلاه هو قانوني تماما.
And Also it is perfectly legal for Indian Retail traders to . ولكن التداول الهامش في الخارج يفترض أن يكون غير قانوني وفقا للمبادئ التوجيهية التنظيم ربي.
This is a confirmed finding based on a news report published in , in April 2018.  As  per the report the author narrated that the illegal nature of forex trading has been confirm ed  by five private sector and public sector banks.
تجارة الفوركس والشركات.
The reports issued by the banks on this evidences also said that only corporations are allowed to trade but the conditionality for the corporations is to use only free dollars from their reserves. يعني استخدام الدولار الحر أنه لا يسمح لهم بتحويل العملة الهندية إلى الدولارات ومن ثم استخدام تلك الدولارات المحولة للتداول. وعلاوة على ذلك فهي مشروطة التمسك رافعة مالية أقل من عشر مرات.
ويحظر بشكل صارم على الأفراد من التداول الأجنبي والإنترنت القائم على الإنترنت. والسبب في ذلك يجلب عائدات عالية لهم ولكن بتهم عالية - التهم بالسجن. The individual  traders  at India have also been warned by the RBI against the online trading portals which offer these  alluring outcomes of high gains but do not reveal to the traders that they are trapping themselves in an illegal activity considered by their state.
RBI  also published a circular that reported certain agents who contacted the traders and urged them to invest in forex trading to earn huge profits. في هذا الاستعجال العديد من الأفراد أصبحوا محاصرين لهذا التعامل غير القانوني. Moreover most of the trading done trough these internet portals had a very huge leverage.
وكانت النتيجة الإضافية التي كشف عنها بنك الاحتياطي الاسترالي هي أنه طلب من الجمهور دفع هذه المدفوعات الهامشية عن المعاملات التجارية من خلال ودائع الحسابات المصرفية أو بطاقات السحب الآلي. وبعد ذلك كانت الحسابات التي يتم دفع المال من نفس الوكيل ولكنها فتحت في العديد من البنوك المختلفة. ولذلك أصدر بنك الاحتياطي الأسترالي تعليمات خاصة إلى المصارف التجارية في البلاد أن تكون حذرة جدا في فرز هذه الحسابات.
 RBi clarified that if any such person is caught, then strict action would be taken against him/her under the FEMA, 1999, contraventions. وبالإضافة إلى ذلك، سيعتبر أيضا مسؤولا عن انتهاكات سياسة اعرف عميلك ومعايير غسل الأموال. كما أن جميع المعاملات التي تم إعلانها غير مسموح بها بموجب قانون النقد الفدرالي غير مسموح بها أيضا. وتشمل هذه المعامالت أي معامالت مرتبطة بالعملة األجنبية وتحويلات أو تحويلات هامشية.
Disclaimer : If you are doing forex trading in india then consult with your Fx Broker on this issue.  
April 6, 2017 by.
EURUSD on the monthly timeframe trading in a larger balance between 1.0482 and 1.145 (rough estimate) since the start of 2018. Its been more than 2 years and EURUSD is trading is the tighter range on the larger timeframe. On the lower side 1.048 offers a longterm support which is also the bottom of the balance. Highly compressed trading activity is seen in the last 4-5 trading months.
March 14, 2017 by.
The EUR/USD consolidated its recent gains following a surge in the exchange rate in the wake of the ECB meeting. While the central bank mostly stuck to the script, keeping rates unchanged and QE in place, it did strike a more neutral stance but this will come slowly over a long period of time. Draghi, shrugged off the recent increases in inflation as transitory, and believes there is a need for the current stimulus to remain intact.
March 9, 2017 by.
USDINR Daily charts are showing clear divergence when fisher transform indicator is applied over the charts. Fisher transform generally converts any probability distribution to Gaussian Probability Distribution. Thus making the indicator better in identifying turning point at the edges and helps trader in identifying trend reversals in the discretionary trading.
February 24, 2017 by.
EURUSD is consolidating on the monthly and Weekly timeframe and negative sentiment prevail there. ومع ذلك، فقد تحولت معنويات التداول اليومية إلى إيجابية. Since the start of FEB 2017 EURUSD is in declining mode and so far twice EURUSD rallied from the intermediate lows formed around 1.0500 levels. It could act as a potential support zone in the upcoming day.
February 13, 2017 by.
منذ عام 2017، ارتفع الدولار بنسبة 25٪ مقابل سلة من العملات الرئيسية. After President Trump’s election, the value of the greenback has risen by about 3%, but his recent comment questioning the wisdom of maintaining a “strong Dollar” seems to have put pressure on the USD, which so far has been in the red in 2017.
January 24, 2017 by.
Pound is trading around 1.2494 and currently monthly sentimental RSI turned positive and likely to continue positive in the long term. It had almost taken 7 months for the sentiment to change positive since BR Exit. The Transition of sentiment from Red to Yellow color indicates positive trend reversal and the trend change is likely to be long term.
November 5, 2018 by.
Some Elliott wave forex traders do watch the news ‗ but for different reasons By Elliott Wave International Last Friday, EURUSD rallied strongly. Said Reuters: “The U. S. dollar tumbled against a basket of major currencies…on U. S. political uncertainty after the FBI said it would review more emails related to Democratic presidential candidate Hillary Clinton’s private […]
September 27, 2018 by.
Any trader of foreign currencies likely understands the influence that both local and international politics have on currency values. Successful online forex trading involves following the changes and trends that are taking place across the globe, and making the right trades at opportune moments to capitalize on changes of currency values.
August 22, 2018 by.
USDJPY is in the downtrend for the last 10 months. Overall Volatility and downtrend momentum weakened in the last 4 weeks with the sideways movement in USDJPY. The Psychological trading zone ‘ Pairs parity 100 got whipsawed couple of times followed by a minor pullback last week. As the panic in USDJPY is fading away one can expect USDJPY to continue in the large consolidation zone and expecting to test 108 in the medium term.
USDJPY Monthly charts are in declining mode for the last 9 months and consecutively keep on making lower lows and lower highs. And from the 2018 high USDJPY had last around.
20% since the negative interest rate announcement came on January 29. And currently trading around above the psychological support zone of 100 levels. CM William VIX FIX levels indicates a possible oversold levels.
June 21, 2018 by.
After Dr. Raguram Rajan’s(RBI Governer) announcement that he will not continue in office for the second term, stock markets on Monday reacted with gap down and recovered on relief of BRexit fears. However from the currency front USDINR ended at 67.6 with strong momentum . EOD sentiment is holding positive and also the coral trend indicator turns greens indicating that a possible uptrend from here on.
April 22, 2018 by.
Interesting Divergence behavior in USDINR Daily charts while trying to use Fisher Transform indicator by Ehlers. Almost every divergence as shown in the above charts extended any where between 28-34 days. Divergence generally occurs when an indicator and the price of an asset are heading in opposite directions. Current positive divergence is running on for last 32 days i. e USDINR rate is slowing and moving down however fisher indicator is turning upwards.
The Securities and Exchange Board of India (SEBI) is the designated regulatory body for the finance and investment markets in India. The board plays a vital role in maintaining stable and efficient financial and investment markets by creating and enforcing effective regulation in India's financial marketplace. India's SEBI is similar to the U. S. Securities and Exchange Commission ().
The SEBI was established in 1988 but was only given regulatory powers on April 12, 1992, through the Securities and Exchange Board of India Act, 1992. It plays a key role in ensuring the stability of the in India, by attracting foreign investors and protecting Indian investors. SEBI was built by the government of India. Its headquarters is located at the Bandra Kurla Complex Business District found in Mumbai. It also has northern, eastern, southern and western regional offices.
SEBI's management is composed of its own members. Its management team consists of a chairman nominated by the Union Government of India, two members who are officers from the Union Finance Ministry, one member from the Reserve Bank of India and five other members who are also nominated by the Union Government of India.
SEBI's Preamble describes in detail the functions and powers of the board. Its Preamble states that SEBI must "protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected there with or incidental there to." In this light, as a board, SEBI must be responsive and proactive to the needs and interest of the groups that constitute India's financial and investment markets: the investors, the market intermediaries and the issuers of securities.
SEBI is allowed to approve by-laws of stock exchanges. It is its job to require the stock exchange to follow its by-laws. SEBI also inspects the books of accounts of financial intermediaries and asks for regular returns from recognized stock exchanges. SEBI's role covers compelling particular companies to list their shares in stock exchanges. Aside from these, SEBI is tasked to manage the registration of brokers.
Ultimately, the board has three powers: quasi-judicial, quasi-legislative and quasi-executive. SEBI has the right to draft regulations under its legislative capacity, conduct investigations and impose action under its executive function, and pass new rules and orders under its judicial capacity. Despite these powers, the results of SEBI's functions still have to go through the Securities Appellate Tribunal and the Supreme Court of India.
May 16, 2017, Tuesday.
The gems and jewellery trade is fully prepared for the GST regime, to be implemented from July 1, industry body GJF said today .
April 27, 2017, Thursday.
The government approved the new design high denomination notes of Rs 500 and Rs 2,000 on June 7, 2018, six months before Prime .
It is IIFL's endeavour to keep you abreast with developments that unfold in the the Reserve Bank of India on a day-to-day basis. The information provided in this section has been sourced from RBI's official portal and gleaned for readers to enable them to have a quick glance of all that is essential.
Corporation Bank has a wide range of forex services to offer for both business and non business needs.
The Bank undertakes Collection/Negotiation/discount of Export Bills. The Bank offers to advise Export Letters of Credit and also add confirmation thereof. The Bank arranges external commercial Borrowings The Bank offers all types of credit facilities to exporters and importers, including foreign exchange denominated finance to resident entities. The Bank offers inward and outward foreign exchange remittance services for travel, medical and other personal requirements. The Bank issues travellers cheques, in foreign exchange and deals in foreign currency. Nation-wide network of 66 designated branches handling foreign exchange business, covering important business centres in India.
Instructions for transfering funds from Overseas centers.
For transfering funds from overseas centers, the remitter must instruct his banker to remit the amount to our nostro account maintained with various banks in respective currency. ie, USD amount in USD currency account, GBP amount in GBP currency account etc. The names of the banks, account number and currency for five major currencies are available on this website . (For other currencies customers can contact the branches where they maintain the account or send a request here.) The request for fund transfer may be on the following lines. Remit. (Currency and amount). to . (Name of the nostro bank). A/C no;. (nostro account No).
For Furhther credit to . (Mention the name of the branch where the account is maintained).
A/c No. (A/c no of the beneficiary) . of Mr. (Name of the Beneficiary). for the purpose of . (Purpose of Remittance).
SWIFT Code of Corporation bank is CORPINBB. The respective branch code given in the list of branches may be added for faster processing, (eg: For Panjim, SWIFT code is CORPINBB 259. For Rajkot SWIFT code is CORPINBB 191)
For further clarifications send or fax to International Banking Division Mumbai at 91-022-22023378, 22814728.
1. Pre-shipment Finance (Packing Credit) Fund Rupee denominated credit USD/EURO/GBP denominated credit-PCFC/FCLS(from FCNR (B) funds) 2. Post-shipment Finance Rupee denominated credit Negotiation of bills-under LC Purchase/discount of bills Rupee advance against collection bills USD denominated credit Ex. Bill Rediscounting FCLS.
RMDS:2000 (Reuter Monitor Dealing System) for online dealing operations enabling the bank to make available to clients competitive exchange rates.
NAS (Network Access Server) - remote login facility to customers to have direct access to computer network at International Banking Division, Mumbai for picking up online forex rates, placing clients on an advantageous platform especially when ratres are volatile.
SWIFT - (Society for Worldwide Interbank Financial Telecommunication) network is presently available at International Banking Division, Mumbai. 31 designated branches are on SWIFT network so as to render speedy and prompt transactions and services.
E-mail connectivity to all the branches of the Bank enabling superior service and a speedy reach.
Telex / fax / lease line connections to branches as standby communication mode .
Forward Contracts EEFC accounts Issue of Guarantees-Performance/Bid Bonds Advisory Services/Foreign Exchange Risk Management The Bank extends extensive financial assistance to high growth sectors like Garments, Software, Gem & Jewellery, Dyes and Chemicals. Export credit has been identified as a thrust area and as a pioneering bank in financing Gem and Jewellery, the Bank in 1980's has won the award instituted by the Gem and Jewellery Export Promotion Council for five consecutive years. A special Diamond Cell at Overseas Branch, Mumbai extends dedicated services to Gem and jewellery exporters in Mumbai.
In addition to pre-shipment finance in rupee as well as foreign currency, the Bank extends customer specific credit facilities like arranging buyers line of credit, ECBs etc. The Bank has already made an impact in the market by extending foreign currency loans, out of FCNR(B) funds, to resident constituents at internationally competitive rates.
Single window facilities for corporates at specialised Industrial Finance Branches at Mumbai, New Delhi, Bangalore, Ahmedabad and Pune. The bank sells foreign currency TCs of American Express and Travellex. Full fledged dealing room operations enables the bank to offer finer exchange rates to clients. The integrated domestic and forex treasury operations has enabled the Bank to cope up with the demands and challenges in the ensuing liberalised atmosphere. A forceful presence in interbank market empowers the bank to meet diverse needs of forex clients. Prudent ALM practices followed to ensure efficient use of forex resources. Correspondent banking relations with reputed banks across the globe - relations with 160 banks, covering over 395 offices/centres. Technology edge for superior service - The Bank has computerised forex operations at its International Banking Division, Mumbai as well as at various Designated Branches. Excellent housekeeping track record for hassle free services.
1. Banker to the Government Agent and adviser to the Government.
2. Banker to the Banks. Acts as the clearing.
3. House of the country Lender of last resort Controller of credit and fore Custodian of foreign.
4. Exchange reserves maintaining the external value of domestic currency.
5. Ensures the internal value of currency.
6. Publishers the Economics Statistics and other.
7. The following are the important functions of RBI. They can be explained with the help of the following chart:
Functions of Reserve Bank of India.
1. Information. Fights against economic crisis and ensures economic and price stability in the country.
2. Promotional Functions.
3. Promotional of banking habit and expansion of banking systems. Provides refinance for export promotion. Expansion of facilities for the provision of agricultural credit through NABARD.
4. Extension of facilities for the Small Scale Industries.
5. Helping the co-operative sector.
6. Prescription of minimum statutory requirements. Innovations in banking business.
1. Granting license to banks.
2. Inspect and make enquiry or determine position in respect of matters under various sections of RBI and Banking Regulation Act.
3. Implementation of Deposit Insurance Scheme.
4. Periodical review of review of the work of commercial banks.
5. Giving directives to commercial banks.
6. Control the non - banking finance cor­porations.
7. Ensuring the health of financial system through on-site and off-site verifications.
Let us discuss the important functions one by one in detail.
The RBI functions on the traditional lines regarding the following activities.
In terms of Section 22 of the Reserve Bank of India Act, the RBI has been given the statutory function of note issue on a monopoly basis. The note issue in India was originally based upon "Proportional Reserve System".
When it became difficult to maintain the re­serve proportionately, it was replaced by "Minimum Reserve System ". According to the RBI Amendment Act of 1957, the bank should now maintain a minimum reserve of Rs.200 crore worth of gold coins, gold bullion and foreign securities of which the value of gold coin and bullion should be not less than Rs.115 crore.
The Government of India issues rupee coins in the denomination of Rs.1, 2, and 5 topublic. These coins are required to be circulated to public only through Reserve Bank un­der Section 38 of the RBI Act. The RBI presently issues notes of denominations Rs.10 and above.
RBI manages circulation of money through currency chests. Originally RBI issued currency notes of Rs.2 and above. However, due to higher cost of printing small denomina­tion notes these denominations are now coincides and issued by Government.
The value of currency with public as on June 1991 was only to the extent of Rs.53048 crore. However, this value went up to Rs.145182 crore in June 1998 and further to Rs.169382 crore in March, 1999.
Currency Chests Currency Chests are receptacles in which stocks of issuable and new notes are stored along with rupee coins. Currency Chests are repositories run by RBI, SBI, subsidiaries of SBI, public sector banks, Government Treasuries and Sub treasuries.
Cur­rency Chests help in expansion and contraction of currency in the country. The advantages for a bank having currency chest are:
(i) The bank can draw funds whenever it is required for its use and deposit funds when found surplus.
(ii) Exchange old and mutilated notes for new notes and coins.
(iii) Enjoy remittance facilities.
(iv) Cash remitted to currency chests by banks can be taken into account for mainte­nance of CRR.
The currency chests maintained by public sector and few private sector banks are the property of RBI. The value of currency held in the chest belongs to RBI. There are as many as 4150 currency chests with banks in India.
2. Banker to the Government.
The RBI acts as banker to the Government under Section 20 of RBI Act. Section 21 provides that Government should entrust its money remittance, exchange and banking transactions in India to RBI. Under Section 21A RBI has to conduct similar transactions for State Governments also.
RBI earns no income by conducting those functions but earns com­missions for managing the government's public debt. Where RBI has no branch, SBI or its subsidiaries are appointed as agents and sub-agents under Section 45 of the RBI Act. Agency Banks receive commission on all transactions conducted on turnover basis.
The RBI extends ' ways and means ' advances to Central and State Governments.
"Ways and Means Advances" (WMA) is not a commercial bank credit. It is a system under which the RBI provides credit to Central and State Gov­ernments for meeting temporary shortfall in government revenues as compared to the monthly expenditures.
In other words, this facility is provided to meet temporary mis­matches between revenue collections and revenue expenditures of governments. The maxi­mum volume and period of such advances are governed by agreements between RBI and the concerned government. To the State Governments, this facility is extended under three categories known as.
2. Special WMA and.
3. as an overdraft facility.
It also acts as adviser to Government on economic and financial matters. In brief, as a banker to the Government the RBI renders the following functions:
(a) Collects taxes and makes payments on behalf of the Government.
(b) Accepts deposits from the Government.
(c) Collects cheques and drafts deposited in the Government accounts.
(d) Provides short-term loans to the Government.
(e) Provides foreign exchange resources to the Government.
(f) Keep the accounts of various Government Department.
(g) Maintains currency chests in treasuries at some importance places for the conve­nience of the government.
(h) Advises governments on their borrowing programmes.
(i) Maintains and operates Central Government's IMF accounts.
3. Agent and Adviser of the Government.
The RBI acts, as the financial agent and adviser to the Government. It renders the fol­lowing functions:
(a) As an agent to the Government, it accepts loans and manages public debts on behalf of the Government.
(b) It issues Government bonds, treasury bills, etc.
(c) Acts as the financial adviser to the Government in all important economic and financial matters.
The RBI acts as banker to all scheduled banks. Commercial banks including foreign banks, co-operative banks and RRBs are eligible to be included in the second schedule of RBI Act subject to fulfilling conditions laid down under Section 42 (6) of RBI Act.
RBI has powers to delete a bank from the second schedule if the bank concerned fails to fulfill the laid down conditions such as erosion in paid up capital below the prescribed limits and the banks' activities became detrimental to the interest of depositors, etc.
All banks in India, should keep certain percentage of their demand and time liabilities as reserves with the RBI. This is known as Cash Reserve Ratio or CRR. At end November 1999, it is 3 per cent for RRBs and co-operative banks; 9 per cent for commercial banks.
They also maintain Current Account with RBI for various banking transactions. This centralization of reserves and accounts enables the RBI to achieve the following:
(a) Regulation of money supply credit.
(b) Acts as custodian of cash reserves of commercial banks.
(c) Strengthen the banking system of the country.
(d) Exercises effective control over banks in Liquidity Management.
(e) Ensures timely financial assistance to the Banks in difficulties.
(f) Gives directions to the Banks in their lending policies in the public interest.
(g) Ensures elasticity in the credit structure of the country.
(h) Quick transfer of funds between member banks.
5. Acts as National Clearing House.
In India RBI acts as the clearing house for settlement of banking transactions. This function of clearing house enables the other banks to settle their interbank claims easily. Further it facilitates the settlement economically.
Where the RBI has no offices of its own, the function of clearing house is carried out in the premises of the State Bank of India. The entire clearing house operations carried on by RBI are computerized. The inter-bank cheque clearing settlement is done twice a day.
There is a separate route for clearing high value cheques of Rs.1.00 lakh and above. Cheques drawn on banks in metropolitan cities are cleared on the same day.
The RBI carries out this function through a cell known as National Clearing Cell. In 1998, there were in all 860 clearing houses in operation of which 14 were run by RBI, 578 by SBI and others by public sector banks.
The RBI acts as a lender of last resort or emergency fund provider to the other member banks. As such, if the commercial banks are not able to get financial assistance from any other sources, then as a last resort, they can approach the RBI for the necessary financial assistance.
In such situations, the RBI provides credit facilities to the commercial banks on eligible securities including genuine trade bills which are usually made available at Bank Rate.
RBI rediscounts bills under Section 17 (2) and 17 (3) and grants advances against secu­rities under Section 17 (4) of RBI Act. However, many of these transactions are practically carried out through separate agencies like DHFI, Securities Trading Corporation of India, primary dealers.
The RBI now mainly provides refinance facilities as direct assistance. Rediscounting of bills fall under the following categories:
A bill arising out of bonfire commercial or trade transaction drawn and payable in India and mature within 90 days from the date of pur­chase or discount is eligible for rediscount.
(ii) Bills for Financing Agricultural Operations:
A bill issued for purpose of financ­ing seasonal agricultural operations or the marketing of crops and maturing within 15 months from the date of purchase or rediscount.
(iii) Bills for Financing Cottage and Small Scale Industries:
Bills drawn or is­sued for the purpose of financing the production and marketing of products of cottage and small industries approved by RBI and mature within 12 months from the date of discount.
Refinance under agricultural and small scale industries activities are now provided by NABARD by obtaining financial assistance from RBI. Bill for holding or trading in Government securities: Such a bill should mature within 90 days from the date of purchase or rediscounting and be drawn and payable in India,
Bonfire bill arising out of export of goods from India and which mature within 180 days from the date of shipment of goods are eligible. As lender of last resort the RBI facilitates the following:
(a) Provides financial assistance to commercial banks at the time of financial needs.
(b) It helps the commercial banks in maintaining liquidity of their financial resources.
(c) Enables the commercial banks to carry out their activities with minimum cash reserves.
(d) As a lender of last resort, the RBI can exercise full control over the commercial banks.
The RBI controls the credit creation by commercial banks. For this, the RBI uses both quantitative and qualitative methods. The important methods used by RBI are,
(i) Bank Rate Policy.
(ii) Open Market Operation.
(iii) Variation of Cash Reserve Ratio.
(iv) Fixing Margin Requirements.
(v) Moral Suasion.
(vi) Issue of Directives.
By controlling credit, the RBI achieves the following:
(a) Maintains the desired level of circulation of money in the economy.
(b) Maintains the stability in the price level prevailing in the economy.
(c) Controls the effects of trade cycles.
(d) Controls the fluctuations in the foreign exchange rate.
(e) Channelize credit to the productive sectors of the economy.
The RBI acts as the custodian of foreign exchange reserves. Adequate reserves may help maintain foreign exchange rates. In order to minimize the undue fluctuations in the rates it may buy and sell foreign currencies depending upon the situations.
Its purchase and sale of foreign currencies from the market is done like commercial banks. However, the objective of the RBI will not be profit booking.
It may buy the foreign currency to build up adequate reserves or to arrest unwarranted rise in the value of rupee which may be due to sudden inflow of foreign currencies into India. It may also buy and sell foreign currencies in international market to switch the portfolio of investments de­nominated in different international currencies depending upon circumstances and needs.
The value of India's Foreign Exchange reserves held by RBI as on June 1998 amounted to Rs.115001 crore. This amount comprises of gold Rs.12826 crore, foreign currency assets and value of IMF currency, viz., SDR (Special Drawing Rights).
These reserves are increased to Rs. 1, 38,005 crore in March 1999. The value of foreign currency assets of RBI, which form the largest portion in India's Foreign Currency reserves, is subject to changes even on daily basis depending upon ruling exchange rates, inflow and outflow of currencies, interven­tion policy of the RBI, etc.
When a country faces Balance of Payment of problems usually when its foreign ex­change payments exceed foreign exchange receipts it controls the whole gamut of fore (foreign exchange) transactions and regulates payment system for its advantage.
Ever since the beginning of Second World War in 1939 India faced shortage of forex for its develop­ment and growth. A Foreign Exchange Regulation Act was originally put in operation from March 1947 and later a new act known as Foreign Exchange Regulation Act (FERA) 1973 was introduced from 1 st January 1974.
Under this Act, RBI is empowered to regulate foreign exchange outgo and inflow, for example, we cannot buy everything we need from abroad and pay for it in forex.
Trade side imports, i. e., merchandise imports are regulated by Director General Foreign Trade in the Ministry of Commerce. Payment for invisible transactions like tourism, foreign visit, dividend/interest payment, etc. is regulated by RBI.
Similarly, all forex received or earned by residents in India, like exporters and rela­tives of NRIs [Non-resident Indian] should be surrendered to banks having license from RBI to deal in forex. However, since 1992, the receivers of forex are permitted to retain certain part of this forex in a separate foreign currency account if they so desire. Such account is known as Exchange Earners' Foreign Currency Account or EEFC Account.
Fur­ther, since 1994 many controls exercised by RBI on forex payments were relaxed. These days the RBI regulates forex transactions only to a minimum level and soon the Act, FERA may be replaced by a new Foreign Exchange Management Act.
While the purchase and sale of forex, maintenance of foreign exchange reserves/gold, are handled in the Depart­ment of External Investment and operations the control and regulations of various other forex transactions are handled in the Exchange Control Department of Reserve Bank of India.
The RBI by its operation of credit control and price stability maintains the internal value of domestic currency and ensures its stability.
In terms of preamble to RBI Act, the Bank is also required to maintain external, value of the Rupee. It, however, depends upon many factors like inflation levels, interest rates Balance of payments situation, etc., ruling in different countries on which RBI does not have control. Earlier, till 1993 the RBI uses to prescribe the Exchange Rate of Rupee.
The external value of rupee is now determined by market forces. RBI by virtue of its position as the Central Bank of the country and custodian of large forex reserves can influence the level of External Value in the short run.
Publishes the Economic Statistics and Other Information.
The RBI collects statistics on economic and financial matters. It publishes periodically an analytical account of the operations of joint stock and co-operative banks. It presents the genuine financial position of the government and companies.
The publications like the report on currency and finance, the report on the trend and progress of banking in India, the review of co-operative movement present a critical account and a balanced review of banking developments commercial, economic and financial conditions of the country.
Fights against Economic Crisis.
The RBI aims at economic stability in the country whenever, there is a danger to the economic stability, it takes immediate measures to put the economy on proper course by effective policy changes and implementation thereof.
These are non-monetary functions. وهي تشمل ما يلي:
The RBI institutionalizes saving through the promotion of banking habit and expan­sion of the banking system territorially and functionally.
Accordingly RBI has set up De­posit Insurance Corporation in 1962, Unit Trust of India in 1964, the IDBI in 1964, the Agri­cultural Refinance Corporation in 1963, Industrial Reconstruction Corporation of India in 1972, NABARD in 1982 and the National Housing Bank in 1988, etc.
It has helped to bring into existence several industrial finance corporations such as Industrial Finance Corpora­tion of India, Industrial Credit and Investment Corporation of India for industrialization of the country. Similarly sector specific corporations took care of development in their respec­tive spheres of activity.
The RBI takes the initiative for widening facilities for the provision of finance for for­eign trade particularly of exports.
The Export Credit and Guarantee Corporation (ECGC) and Exam Banks render useful functions on this line. To encourage exports the RBI is providing refinance facilities for export credit given by commercial banks. Further the rate of interest on export credits con­tinues to be prescribed by RBI at a lower rate.
The ECGC provides an insurance cover on Export receivables. EXIM Bank extends long term finance to project exporters and foreign currency credit for promotion of Indian exports. Students should know that many of these institutions were part of Reserve Bank earlier although they are currently functioning as separate financial institutions.
3. Facilities for Agriculture.
The RBI extends indirect financial facilities to agriculture regularly. Through NABARD it provides short-term and long-term financial facilities to agriculture and allied activities. It established NABARD for the overall administration of agricultural and rural credit. Indian agriculture would have starved of a cheap credit but for the institutionalization of rural credit by RBI.
The Reserve Bank was extending financial assistance to the rural sector mainly through contributions to the National Rural Credit Funds being operated by NABARD. RBI pres­ently makes only a symbolic contribution of Rs.1.00 crore.
It, however, extends cheap indi­rect financial assistance to the agricultural sector by providing large sums of money through General Line of Credit to NABARD. The loans and advances extended to NABARD by RBI and outstanding as on June 1999 amounted to Rs.5073 crore.
4. Facilities to Small Scale Industries.
The RBI takes active steps to increase the supply of credit to small industries. It gives directives to the commercial banks regarding the extension of credit facilities to small scale industries. It encourages commercial banks to provide guarantee services to SSI sector. Banks advances to SSI sector are classified under priority sector advances.
SSI sector contributes to a very great extent to employment opportunities and for Indian Exports. Keeping this in view, RBI has directed commercial banks to open specialized SSI bank branches to provide adequate financial and technical assistance to SSI branches. There are around 30 lakh SSI units operating in India. Meeting their financial needs is one of the prime concerns of RBI.
RBI extends indirect financing to State Co-operative Banks thereby connects the co­operative sector with the main banking system of the country. The finance is mostly, is routed through NABARD. This way the financial needs of agricultural sector are taken care of by RBI.
6. Prescription of Minimum Statutory Requirements for Banks.
The RBI prescribes the minimum statutory requirements such as, paid up capital, re­serves, cash reserves, liquid assets, etc. RBI prescribes reserves requirements both under Banking Regulation Act and RBI Act to ensure different objectives.
For example, SLR pre­scription is done to ensure liquidity position of the bank. CRR prescription is done to have effective monetary control and money supply. Statutory Reserves Appropriation is done to ensure sound banking system, etc.
It also asks banks to set aside provisions against pos­sible bad loans. With these functions, it exercises control over the monetary and banking systems of the country to ensure growth, price stability and sound banking practices.
The Reserve Bank of India performs the following supervisory functions. By these functions it controls and administers the entire financial and banking systems of the country.
1. Granting License to Banks.
The RBI grants license to the banks, which like to commence their business in India. Licenses are also required to open new branches or closure of branches. With this power.
RBI can ensure avoidance of unnecessary competitions among banks in particular location evenly growth of banks in different regions, adequate banking facility to various regions, etc. This power also helps RBI to weed out undesirable people from starting banking business.
2. Function of Inspection and Enquiry.
RBI inspects and makes enquiry in respect of various matters covered under Banking Regulations Act and RBI Act. The inspection of commercial banks and financial institu­tions are conducted in terms of the provisions contained in Banking Regulation Act.
These refer to their banking operations like loans and advances, deposits, investment functions and other banking services. Under such inspection RBI ensures that the banks and finan­cial institutions carry on their operations in a prudential manner, without taking undue risk but aiming at profit maximization within the existing rules and regulations.
This type of inspection is carried on periodically once a year or two covering all branches of banks. Banks are obliged to take remedial measures on the lapses / deficiencies pointed out dur­ing inspection. In addition RBI also calls for periodical information concerning certain assets and liabilities of the banks to verify that the banks continue to remain in good health.
This type of inspection / verification is known as off - site inspection. The RBI team visiting bank offices to conduct verification of books and records is known as on - site inspection. RBI inspects banks under RBI Act only when there is a threat to close down a bank for mismanagement and there is a need to verify the fulfillment of conditions for the status of 'scheduled bank'.
RBI presently conducts inspection of commercial banks, Development Financial Institutions like IDBI, NABARD, etc. Urban Co - operative Banks and non banking financial companies like Lease Financing Companies, Loan Companies.
3. Implementing the Deposit Insurance Scheme.
RBI Implements the Deposit Insurance Scheme for the benefit of bank depositors. This supervisory function has improved the standard of banking in India due to this confidence building exercise. Under this system, deposits up to Rs.1.00 lakh with the bank branch are guaranteed for payment. Deposits with the banking system alone are covered under the scheme.
For this purpose banking system include accounts maintained with commercial banks, co - operative banks and RRBs. Fixed Deposits with other financial institutions like ICICI, IDBI, etc. and those with financial companies are not covered under the scheme. ICICI is since merged with ICICI Bank Ltd. and IDBI is getting converted into a bank.
4. Periodical Review of the Working of the Commercial Banks.
The RBI periodically reviews the work done by commercial banks. It takes suitable steps to enhance the efficiency of the banks and make various policy changes and imple­ment programmes for the well-being of the nation and for improving the banking system as a whole.
5. Controls the Non-Banking Financial Corporations.
RBI issues necessary directions to the Non-Banking financial corporations and con­ducts inspections through which it exercises control over such institutions. Deposit taking NBFCs require permission from RBI for their operations.
EXTERNAL COMMERCIAL BORROWINGS (ECB)
RELEASE OF FOREIGN EXCHANGE BY AUTHORISED DEALERS.
(a) External Commercial Borrowings (ECB) refer to commercial loans [in the form of bank loans, buyers’ credit, suppliers’ credit, securitised instruments (e. g. floating rate notes and fixed rate bonds)] availed from non-resident lenders with minimum average maturity of 3 years.
(b) Foreign Currency Convertible bonds (FCCBs) mean a bond issued by an Indian company expressed in foreign currency, and the principal and interest in respect of which is payable in foreign currency. Further the bonds are required to be issued in accordance with the scheme viz., “Issue of Foreign Currency convertible bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993”, and subscribed by a non-resident in foreign currency and convertible into ordinary shares of the issuing company in any manner, either in whole, or in part, on the basis of any equity related warrants attached to debt instruments. The policy for ECB is also applicable to FCCBs. The issue of FCCBs are also required to adhere to the provisions of Notification FEMA No. 120/RB-2004 dated July 7, 2004 as amended from time to time.
(c) ECB can be accessed under two routes, viz., (i) Automatic Route outlined in Paragraph I (A) and (ii) Approval Route outlined in paragraph I (B).
(d) ECB for investment in real sector ‘industrial sector, especially infrastructure sector-in India, are under Automatic Route, i. e. do not require RBI/Government approval. In case of doubt as regards eligibility to access Automatic Route, applicants may take recourse to the Approval Route.
(a) Corporates (registered under the companies Act except financial intermediaries (such as banks, financial institutions (FIs), housing fnance companies and NBFCs) are eligible to raise ECB. Individuals, Trusts and Non-
Profit making Organisations are not eligible to raise ECB.
(b) Units in Special Economic Zones (SEZ) are allowed to raise ECB for their own requirement. However, they cannot transfer or on-lend ECB funds to sister concerns or any unit in the Domestic Tariff Area.
Borrowers can raise ECB from internationally recognised sources such as (i) international banks, (ii) international capital markets, (iii) multilateral financial institutions (such as IFC, ADB, CDC, etc.,), (iv) export credit agencies, (v) suppliers of equipment,(vi) foreign collaborators and (vii) foreign equity holders (other than erstwhile OCBs). A “foreign equity holder’ to be eligible as “recognized lender’ under the automatic route would require minimum holding of equity in the borrower company as set out below:
(i) For ECB up to USD 5 million ‘ minimum equity of 25 per cent held directly by the lender.
(ii) For ECB more than USD 5 million ‘ minimum equity of 25 per cent held directly by the lender and debt-equity ratio not exceeding 4:1 (i. e. the proposed ECB not exceeding four times the direct foreign equity holding).
(a) The maximum amount of ECB which can be raised by a corporate is USD 500 million or equivalent during a financial year.
(b) ECB up to USD 20 million or equivalent in a financial year with minimum average maturity of three years.
(c) ECB above USD 20 million and upto USD 500 million or equivalent with a minimum average maturity average.
maturity of five years.
(d) ECB upto USD 20 million can have call / put option provided the minimum average maturity of three years is.
complied with before exercising call / put option.
All-in-cost includes rate of interest, other fees and expenses in foreign currency except commitment fee, pre-payment fee, and fees payable in Indian Rupees. Moreover, the payment of withholding tax in Indian Rupees is excluded for calculating the all-in-cost. The all-in-cost ceilings for ECB are reviewed from time to time. The following ceilings are valid till reviewed:
* for the respective currency of borrowing or applicable benchmark.
(a) Investment e. g. import of capital goods (as classified by DGFT in the Foreign Trade Policy), by new or existing production units, in real sector - industrial sector including small and medium enterprises (SME) and infrastructure sector ‘ in India. Infrastructure sector is defined as (i) power, (ii) telecommunication, (iii) railways, (iv) road including bridges, (v) sea port and airport, (vi) industrial parks, and (vii) urban infrastructure (water supply, sanitation and sewage projects);
(b) Overseas direct investment in Joint Ventures (JV) / Wholly Owned Subsidiaries (WOS) subject to the existing.
guidelines on Indian Direct Investment in JV/WOS abroad.
(a) Utilisation of ECB proceeds is not permitted for on-lending or investment in capital market or acquiring a company (or a part thereof) in India by a corporate,
(b) Utilisation of ECB proceeds is not permitted in real estate,
(c) Utilisation of ECB proceeds is not permitted for working capital, general corporate purpose and repayment of existing Rupee loans.
Issuance of guarantee, standby letter of credit, letter of undertaking or letter of comfort by banks, Financial Institutions and Non-Banking Financial Companies (NBFCs) relating to ECB is not permitted.
The choice of security to be provided to the lender / supplier is lefit to the borrower. However, creation of charge over immovable assets and financial securities, such as shares, in favour of the overseas lender is subject to Regulation 8 of Notification No. FEMA 21/RB - 2000 dated May 3, 2000 and Regulation 3 of Notification No. FEMA 20/RB - 2000 dated May 3, 2000 respectively, as amended from time to time.
ix) Parking of ECB proceed overseas.
ECB raised for foreign currency expenditure for permissible end-uses shall be parked overseas and not to be remitted to India. ECB proceeds parked overseas can be invested in the following liquid assets (a) deposits or Certifcate of Deposit or other products offered by banks rated not less than AA (-) by Standard and Poor / Fitch IBCA or Aa3 by Moody’s; (b) deposits with overseas branch of an Authorised Dealer in India; and (c) Treasury bills and other monetary instruments of one year maturity having minimum rating as indicated above. The funds should be invested in such a way that the investments can be liquidated as and when funds are required by the borrower in India.
Prepayment of ECB upto USD 500 million may be allowed by AD banks without prior approval of RBI subject to compliance with the stipulated minimum average maturity period as applicable to the loan.
xi) Refinancing of an existing ECB.
The existing ECB may be refinanced by raising a fresh ECB subject to the condition that the fresh ECB is raised at a lower all-in-cost and the outstanding maturity of the original ECB is maintained.
The designated Authorised Dealer (AD bank) has the general permission to make remittances of installments of principal, interest and other charges in conformity with ECB guidelines issued by Government / Reserve Bank of India from time to time.
Borrowers may enter into loan agreement complying with ECB guidelines with recognised lender for raising ECB under Automatic Route without prior approval of RBI. The borrower must obtain a Loan Registration Number (LRN) from the Reserve Bank of India before drawing down the ECB. The procedure for obtaining LRN is detailed in para II (i) (b).
The following types of proposals for ECB are covered under the Approval Route.
ا). Financial institutions dealing exclusively with infrastructure or export fnance such as IDFC, IL&FS, Power Finance Corporation, Power Trading Corporation, IRCON and EXIM Bank are considered on a case by case basis.
ب). Banks and financial institutions which had participated in the textile or steel sector restructuring package as approved by the Government are also permitted to the extent of their investment in the package and assessment by Reserve Bank based on prudential norms. Any ECB availed for this purpose so far will be deducted from their entitlement.
c). ECB with minimum average maturity of 5 years by Non-Banking Financial Companies (NBFCs) from multilateral financial institutions, reputable regional financial institution, official export credit agencies and international banks to fnance import of infrastructure equipment for leasing to infrastructure projects.
d). Foreign Currency Convertible Bonds (FCCBs) by housing fnance companies satisfying the following minimum criteria: (i) the minimum net worth of the financial intermediary during the previous three years shall not be less than Rs.500 cores, (ii) a listing on the BSE or NSE, (iii) minimum size of FCCB is USD 100 million, (iv) the applicant should submit the purpose / plan of utilization of funds.
e). Special Purpose Vehicles, or any other entity notified by the Reserve Bank, set upto fnance infrastructure companies / projects exclusively, will be treated as Financial Institutions and ECB by such entities will be considered under the Approval Route.
f). Multi-State Co-operate Societies engaged in manufacturing activity satisfying the following criteria (i) the Co-operative Society is fnancially solvent and (ii) the Co-operative Society submits its up-to-date audited balance sheet.
g). Corporates engaged in industrial sector and infrastructure sector in India can avail ECB for Rupee expenditure for permissible end-uses.
h). Non-Government Organisations (NGOs) engaged in micro fnance activities are eligible to avail ECB for Rupee expenditure for permissible end-uses. Such NGO (i) should have a satisfactory borrowing relationship for at least 3 years with a scheduled commercial bank authorised to deal in foreign exchange and (ii) would require a certificate of due diligence on ‘fit and proper’ status of the board / committee of management of the borrowing entity from designated AD Bank.
i). Corporate in services sector viz. hotels, hospitals and software companies can avail ECB for import of capitalgoods.
j). Cases falling outside the purview of the automatic route limits and maturity period indicated at paragraph I A (iii).
(a) Borrowers can raise ECB from internationally recognised sources such as (i) international banks, (ii) international capital markets, (iii) multilateral financial institutions (such as IFC, ADB, CDC, etc.), (iv) export credit agencies, (v) suppliers’ of equipment, (vi) foreign collaborators and (vii) foreign equity holders (other than erstwhile OCBs)
(b) From ‘foreign equity holder’ where the minimum equity held directly by the foreign equity lender is 25 per cent but debt-equity ratio exceeds 4:1 (i. e. the proposed ECB exceeds four times the direct foreign equity holding).
(c) Overseas organisations and individuals complying with following safeguards may provide ECB to Non-Government Organisations (NGOs) engaged in micro fnance activities.
(i) Overseas Organisations proposing to lend ECB would have to furnish a Certifcate of due diligence from an overseas bank which in turn is subject to regulation of host-country regulator and adheres to Financial Action Task Force (FATF) guidelines to the AD bank of the borrower. The certificate of due diligence should comprise the following (i) that the lender maintains an account with the bank for at least a period of two years, (ii) that the lending entity is organised as per the local law and held in good esteem by the business / local community and (iii) that there is no criminal action pending against it.
(ii) Individual Lender has to obtain a certificate of due diligence from an overseas bank indicating that the lender maintains an account with the bank for at least a period of two years. Other evidence / documents such as audited statement of account and income tax return which the overseas lender may furnish need to be certifed and forwarded by the overseas bank. Individual lenders from countries wherein banks are not required to adhere to Know Your Customer (KYC) guidelines are not eligible to extend ECB.
(a) Corporates can avail of ECB of an additional amount of USD 250 million with average maturity of more than 10 years under the approval route, over and above the existing limit of USD 500 million under the automatic route, during a financial year. Other ECB criteria such as end-use, all-in-cost ceiling, recognised lender, etc., need to be complied with. Prepayment and call / put options, however, would not be permissible for such ECB upto a period of 10 years.
(b) Corporates in infrastructure sector can avail ECB up to USD 100 million and Corporates in industrial sector can avail ECB up to USD 50 million for Rupee capital expenditure for permissible end - uses within the overall limit of USD 500 million per borrower, per financial year, under Automatic Route.
(c) NGOs engaged in micro fnance activities can raise ECB up to USD 5 million during a financial year. Designated AD bank has to ensure that at the time of drawdown the forex exposure of the borrower is hedged.
(d) Corporates in the services sector viz. hotels, hospitals and software companies can avail ECB up to USD 100 million, per borrower, per financial year, for import of capital goods.
All-in-cost includes rate of interest, other fees and expenses in foreign currency except commitment fee, pre-payment fee, and fee payable in Indian Rupees. Moreover, the payment of withholding tax in Indian Rupees is excluded for calculating the all-in-cost.
The current all-in-cost ceilings are as under: The following ceilings are valid till reviewed:
* For the respective currency of borrowing or applicable benchmark.
(b) Overseas direct investment in Joint Ventures (JV) / Wholly Owned Subsidiaries (WOS) subject to the existing.
guidelines on Indian Direct investment in JV/WOS abroad.
(c) The first stage acquisition of shares in the disinvestment process and also in the mandatory second stage offer to the public under the Government’s disinvestment programme of PSU shares.
(d) Import of capital goods by Corporates in the service sector, viz., hotels, hospitals and software companies.
(a) Utilisation of ECB proceeds is not permitted for on-lending or investment in capital market or acquiring a company (or a part thereof) in India by a corporate except banks and financial institutions eligible under paragraph I(B)(i)(A) and I(b)(i)(b),
(b) Utilisation of ECB proceeds is not permitted in real estate,
(c) Utilisation of ECB proceeds is not permitted for working capital, general corporate purpose and repayment of.
existing Rupee loans.
Issuance of guarantee standby letter of credit, letter of undertaking or letter of comfort by banks, financial institutions and NBFCs relating to ECB is not normally permitted Applications for providing guarantee / standby letter of credit or letter of comfort by banks, financial institutions relating to ECB in the case of SME will be considers on merit subject to prudential norms. With a view to facilitating capacity expansion and technological upgradation in Indian Textile industry issue of guarantees, standby letters of credit, letters of undertaking and letters of comfort by banks in respect of ECB by textile companies for modernization or expansion of textile units will be considered under the Approval Route subject to prudential norms.
The choice of security to be provided to the lender / supplier is lefit to the borrower. However, creation of charge over immovable assets and financial securities, such as shares, in favour of the overseas lender is subject to Regulation 8 of Notification No. FEMA 21/RB-2000 dated May 3, 2000 and Regulation 3 of Notification No. FEMA 20/RB-2000 dated May 3, 2000 as amended from time to time, respectively.
ix). Parking of ECB proceeds overseas.
ECB raised for foreign currency expenditure for permissible end - uses shall be parked overseas and not remitted to India and ECB raised for Rupee expenditure for permissible end - uses shall be parked overseas until actual requirement in India. ECB proceeds parked overseas can be invested in the following liquid assets (a) deposits or certificate of deposits or other products offered by banks rated not less than AA(-) by Standard and Poor / Fitch IBCA or Aa3 by Moody’s; (b) deposits with overseas branch of an AD bank in India; and (c) Treasury bills and other monetary instruments of one year maturity having minimum rating as indicated above. The funds should be invested in such a way that the investments can be liquidated as and when funds are required by the borrower in India.
(a) Prepayment of ECB upto USD 500 million may be allowed by AD bank without prior approval of Reserve Bank.
subject to compliance with the stipulated minimum average maturity period as applicable to the loan.
(b) Pre-payment of ECB for amounts exceeding USD 500 million would be considered by the Reserve Bank under.
the Approval Route.
xi). Refinancing of an existing ECB.
Existing ECB may be refinanced by raising a fresh ECB subject to the condition that the fresh ECB is raised at a lower all-in - cost and the outstanding maturity of the original ECB is maintained.
The designated AD bank has general permission to make remittances of instalments of principal, interest and other charges in conformity with ECB guidelines issued by Government / Reserve Bank of India from time to time.
Applicants are required to submit an application in form ECB through designated AD bank to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Central Office , Central Office , External Commercial Borrowings Division, Mumbai ‘ 400 001, along with necessary documents.
Reserve Bank has set up an Empowered Committee to consider proposals coming under the Approval Route.
II. REPORTING ARRANGEMENTS AND DISSEMINATION OF INFORMATION.
ا). With a view to simplify the procedure, submission of copy of loan agreement is dispensed with.
ب). For allotment of loan registration number, borrowers are required to submit Form 83, in duplicate, certifed by the Company Secretary (CS) or Chartered Accountant (CA) to the designated AD bank. One copy is to be forwarded by the designated AD bank to the Director, Balance of Payments Statistics Division, Department of Statistics and Information System (DSIM), Reserve Bank of India, Bandra-Kurla Complex, Mumbai ‘ 400 051 [Note: copies of loan agreement, offer documents for FCCB are not required to be submitted with Form 83].
c). The borrower can draw-down the loan only after obtaining the loan registration number from DSIM, Reserve Bank of India.
d). Borrowers are required to submit ECB-2 Return certifed by the designated AD bank on monthly basis so as to reach DSIM, RBI within seven working days from the close of month to which it relates.
[ Note: All previous returns relating to ECB viz. ECB 3 ‘ECB 6 have been discontinued with effect from January 31, 2004].
ii). Dissemination of Information.
For providing greater transparency, information with regard to the name of the borrower, amount, purpose and maturity of ECB under both Automatic Route and Approval Route are put on the Reserve Bank website on a monthly basis with a lag of one month to which it relates.
III. STRUCTURED OBLIGATIONS.
In order to enable Corporates to raise resources domestically and hedge exchange rate risks, domestic rupee denominated structured obligations are permitted to be credit enhanced by international banks / international financial institutions / joint venture partners. Such applications will be considered under the Approval Route.
The primary responsibility to ensure that ECB raised / utilised are in conformity with the ECB guidelines and the Reserve Bank regulations / directions is that of the concerned borrower and any contravention of the ECB guidelines will be viewed seriously and will invite penal action under FEMA 1999 ( cf. A. P. (DIR Series) Circular No.31 dates February 1, 2005). The designated AD bank is also required to ensure that raising / utilisation of ECB is in compliance with ECB guidelines at the time of certification .
(أنا). Conversion of ECB into equity is permitted subject to the following conditions:
(a) The activity of the company is covered under the Automatic Route for Foreign Direct investment or Government.
approval for foreign equity participation has been obtained by the company,
(b) The foreign equity holding after such conversion of debt into equity is within the sectoral cap, if any,
(c) Pricing of shares is as per SEBI and erstwhile CCI guidelines / regulations in the case listed / unlisted companies as the case may be.
(ب). Conversion of ECB may be reported to the Reserve Bank as follows:
(a) Borrowers are required to report full conversion of outstanding ECB into equity in the form FC-GPR to the concerned Regional Office of the Reserve Bank as well as in form ECB-2 submitted to the DSIM, RBI within seven.
working days from the close of month to which it relates. The words “ECB wholly converted to equity” should be clearly indicated on top of the ECB-2 form. Once reported, filing of ECB-2 in the subsequent months is not necessary.
(b) In case of partial conversion of outstanding ECB into equity, borrowers are required to report the converted.
portion in form FC-GPR to the concerned Regional Office as well as in form ECB-2 clearly differentiating the converted portion from the unconverted portion. The words “ECB partially converted to equity” should be indicated on top of the ECB-2 form. In subsequent months, the outstanding portion of ECB should be reported in ECB-2 form to DSIM.
AD banks design to crystallize their foreign exchange liability arising out of guarantees provided for ECB raised by corporates in India into Rupees, may make an application to the Chief General Manager-in-Charge, Foreign Exchange Department, External Commercial Borrowing Division, Reserve Bank of India, Central Office , Mumbai, giving full details viz., name of the borrower, amount raised, maturity, circumstances leading to invocation of guarantee / letter of comfort, date of default, its impact on the liabilities of the overseas branch of the AD concerned and other relevant factors.
VII. ECB UNDER THE ERSTWHILE USD 5 MILLION SCHEME.
Designated AD banks are permitted to approve elongation of repayment period for loans raised under the erstwhile USD 5 Million Scheme, provided there is a consent letter from the overseas lender for such reschedulement without any additional cost. Such approval with existing and revised repayment schedule along with the Loan Key / Loan Registration Number should be initially communicated to the Chief General Manager-in-Charge, Foreign Exchange Department, Reserve Bank of India, Central Office , ECB Division, Mumbai within seven days of approval and subsequently in ECB ‘ 2.
TRADE CREDITS FOR IMPORTS INTO INDIA.
‘Trade Credits’ (TC) refer to credits extended for imports directly by the overseas supplier, bank and financial institution for maturity of less than three years. Depending on the source of fnance, such trade credits include suppliers’ credit or buyers’ credit. Suppliers credit relates to credit for imports in to India extended by the overseas supplier, while buyers’ credit refers to loans for payment of imports in to India arranged by the importer from a bank or financial institution outside India for maturity of less than three years. It may be noted that buyers’ credit and suppliers’ credit for three years and above come under the category of External Commercial Borrowings (ECB) which are governed by ECB guidelines.
AD banks are permitted to approve trade credits for imports into India up to USD 20 million per import transaction for imports permissible under the current Foreign Trade Policy of the DGFT with a maturity period up to one year (from the date of shipment). For import of capital goods as classified by DGFT, AD banks may approve trade credits up to USD 20 million per import transaction with a maturity period of more than one year and less than three years. No roll-over / extension will be permitted beyond the permissible period.
AD banks shall not approve trade credit exceeding USD 20 million per import transaction.
The current all-in-cost ceilings are as under.
*For the respective currency of credit or applicable benchmark.
The all-in-cost ceilings include arranger fee, upfront fee, management fee, handling / processing charges, out of pocket and legal expenses, if any.
AD Bank are permitted to issue Letters of Credit / guarantees / Letter of Undertaking (LoU) / Letter of Comfort (LoC) in favour of overseas supplier, bank and financial institution, upto USD 20 million per transaction for a period up to one year for import of all non-capital goods permissible under Foreign Trade Policy (except gold) and up to three years for import of capital goods, subject toprudential guidelines issued by Reserve Bank from time to time. The period of such Letters of credit / guidelines / LoU / LoC has to be co-terminus with the period of credit, reckoned from the date of shipment.
AD banks are required to furnish details of approvals, drawal, utilisation, and repayment of trade credit granted by all its branches, in a consolidated statement, during the month, in form TC from April 2004 onwards to the Director, Division of International Finance, Department of Economic Analysis and Policy, Reserve Bank of India, Central Office Building, 8th Floor, For, Mumbai ‘ 400 001 (and in MS-Excel file through email to ) so as to reach not later than 10th of the following month. Each trade credit may be given a unique identification number by the AD bank.
AD banks are required to furnish data on issuance of LCs / guarantees / LoU / LoC by all its branches, in a consolidated statement, at quarterly intervals to the Chief General Manager-in-Charge, Foreign Exchange Department, ECB Division, Reserve Bank of India, Central Office Building, Fort, Mumbai ‘ 400 001 (and in MS-Excel file through email to ) from December 2004 onwards so as to reach the department not later than 10th of the following month.
Our objective is to encourage Indian exporters to invest more in their R&D spend to develop new products and processes that will enhance export capabilities. With the need to bridge the funding gap of Indian exporters in the research space at our core, we have a dedicated R&D Financing Programme. Under this programme, financing can be extended to any export oriented company. Alternatively, a special purpose vehicle promoted by the company can be created irrespective of the nature of the industry.
We understand that a primary obstacle for Indian exporters is the lack of a dependable source of financing. We attempt to bridge this gap by extending export credit to Indian exporters to meet a wide range of their trade financing requirements. We provide working capital finance by way of pre-shipment credit and post-shipment credit. We also extend non-fund based limits including issuance of Letters of Credit (both foreign & inland) and Bank Guarantees (both foreign & inland) as part of our export credit assistance to clients. The credit limits are generally operated as a running account facility. The facilities can be drawn in either Indian Rupee or Foreign Currency.
In order to enhance international competitiveness and the capabilities of export-oriented Indian companies, we provide term loans to finance various capital expenditures including certain soft expenditures of such companies. Loans or guarantees are extended for the expansion, modernization, upgradation or diversification projects. This includes acquisition of equipment, technology export marketing, export product development and setting up of Software Technology Parks.
We offer a comprehensive range of products and services covering financial needs of borrower companies at all stages of business cycle to enhance the competitiveness of Indian companies. The Companies involved in manufacturing/services, having only domestic operation and no exports, are eligible for financing from Exim Bank for import of equipment/machineries for domestic projects. Financing is done towards bulk import of machineries, services for capacity expansion, modernization and infrastructure projects.
We extend credit to eligible export oriented enterprises to enhance the export capability creation through financing non-project related equipment procurement. We offer loan for acquisition of plant and machinery, purchase of ancillary equipment including equipment for packaging, pollution control, utilities, quality assurance etc. The loans are flexible and can be extended for equipment procurement for balancing, replacement, modernization and capacity up-gradation.
There is no information on the FX United website indicating who owns or runs the business.
A New Zealand “certificate of incorporation” for the entity “United Global Holdings Limited” is provided on the FX United website, however the relationship between the two companies is unclear.
The incorporation certificate shows that United Global Holdings Limited was incorporated on the 23rd of May, 2017.
The New Zealand address provided on the certificate is also used by numerous other businesses, suggesting it’s little more than a rented mailing address. As such, FX United would appear to exist in New Zealand in name only.
Two Directors are listed on the certificate, Rujina Begum and Priscila Lamoste Lustre.
A UK address is provided for Begum, which once again is used by a number of businesses. A residential address in Queensland, Australia is provided for Lustre.
Rujina Begum is also a listed Director for something called United Gateway Asia Limited, a former New Zealand corporation struck off in December last year.
Of the two listed Directors, Begum (right) is likely running FX United. Her name appears as the listed owner of the FX United website domain, which was first registered on October 15th, 2006.
The domain registration was last updated on August 12th, 2017, which is likely when Begum obtained it.
On her LinkedIn profile, Begum refers to herself as a “compliance officer” for Rational FX.
Rational FX is a foreign exchange business operating out of London.
Read on for a full review of the FX United MLM business opportunity.
FX United has no retailable products or services, with affiliates only able to market FX United affiliate membership itself.
The FX United compensation plan sees affiliates deposit 0 to ,000 on the expectation of a ROI.
Purportedly this ROI is generated through foreign exchange, specifically “capital gain auto trading” (CGAT).
CGAT investments are made via a twelve month contract, with affiliates paid a 30% deposit bonus.
Affiliates can withdraw funds before twelve months for a fee (3%), but only if the balance in their account is 150% of what they initially invested.
FX United also charge a 1% month fee on every affiliate’s fund balance.
Referral commissions are paid out on ROIs paid out to recruited affiliates, via a unilevel compensation structure.
ويضع هيكل التعويضات غير المتكافئة شركة تابعة على رأس فريق من ذوي المستوى الفردي، مع وضع كل شركة تابعة تم تعيينها مباشرة تحتها (المستوى 1):
If a level 1 affiliates goes on to recruit new affiliates of their own, they are placed on level 2 of the original affiliate’s unilevel team.
إذا كان أي من الشركات التابعة من المستوى الثاني تجنيد شركات تابعة جديدة، يتم وضعها على المستوى 3 وهكذا دواليك وهكذا إلى أسفل عدد نظري لا حصر له من المستويات.
FX United cap payable unilevel levels at five, with commissions paid out as a percentage of the ROI affiliates on these levels receive:
Affiliate membership with FX United is free, however affiliates must invest at least 0 in order to participate in the income opportunity.
Whenever I come across a forex MLM opportunity, they’re always particularly vague about who’s running the show.
You get a generic looking website, generic sounding company name and a whole lot of confusion.
FX United is no different, and I can’t think of any legitimate reason for it to be registered in New Zealand, when it’s quite clearly being run out of the UK. Ditto why somebody in Queensland, Australia, is listed as a Director.
To me that just screams something dodgy is going on, either on the trading side of things or potentially money laundering. A lot of that could probably be ascertained by disclosure of where FX United keep deposited funds, but that’s not disclosed on their website.
What you’re left with is a questionable scheme that’s asking for thousands of dollars, on the promise of ROIs you don’t really know the origin of.
The deposit bonus sticks out as pretty suss, with FX United seemingly creating money out of nothing.
The way I see it, if they are able to offer a 30% deposit bonus on funds invested, why don’t they just take a small loan out, do whatever it is they’re doing and turn it into millions?
Why bog it down with a 30% liability on every dollar invested and five-level deep referral commissions that almost double the forex ROI liability?
Makes no sense to me.
The sum total of all of this is an opportunity that comes off as pretty suss. You don’t really know who’s running it, from where, or what they’re doing with your invested funds.
That’s not smart business, making FX United an opportunity you should probably stay clear of.
The Reserve Bank of India issued new guidelines on Tuesday on the reporting of bad debt and the working of the Joint Lenders' Forum (JLF).
Sensex rally has helped nation's largest financial investor book 19% more profit in March quarter.
May 14, 2017, Sunday.
On the flip side, resolution process could entail banks to take a haircut in their exposure to loans.
May 14, 2017, Sunday.
On the flip side, resolution process could entail banks to take a haircut in their exposure to loans.
June 19, 2017 by.
The career of investment advisors comes with great demand. They are the professional that provides exclusive assistance to the clients when the main area of concern is related with the financial matters. Whether it is equipped with retirement planning, insurance options and investment strategies, investment advisors are there to solve any type of problems related with monetary issues. If you are from India and planning to pursue your career as an investment advisor, you need to obtain proper registration certification that will facilitate you to work as an investment advisor.
Apply for registration certificate.
The first and foremost thing that you need to get the certification is to pass the examination of NISM or National Institute of Securities Market, namely ‘NISM Series V-A: Mutual Fund Distributors Certification Examination,’ On successful completion of the examination, you will get a certification from NISM. According the recent regulations, the willing candidates need to apply for the registration under the regulations of SEBI (Investment Advisers) Regulations, 2018 . Applicants need to fill up the form properly and submit the same along with required documents. It is worth to mention in this context, if the application is for individual entity, it requires submitting a photo while the organization does not require any photo.
In most of the cases, applicants will obtain the response of SEBI with four weeks. However, the time of the registration may vary based on how efficiently the applicants are able to fulfill the criteria. Before, apply for the registration certificate, it is highly recommended to go through the eligibility criteria of the registration. Along with the form A, applicants need to pay Rs. 5000 as the application fees. You need to draft this amount in favor of “The Securities and Exchange Board of India,” that is payable at Mumbai. Apart from this, the candidates also need to apply online by following the strict guidelines of the SEBI that is updated on a regular basis.
-Where the applicant is a bank or NBFC, it should be permitted by RBI to act as IA and the application should be made through a subsidiary or separately identifiable department or division.
-Where the applicant is a body corporate, other than a Bank or NBFC, the application should be made through a separately identifiable department or division.
-Where an entity incorporated outside India proposes to undertake IA services, the application should be made by the subsidiary in India of such foreign entity.
-Where a foreign citizen proposes to undertake IA services, the applicant should set up an office in India and undertake IA services through such office.
After receiving registration certificate.
After considering all the aspects of the applications, SEBI will grant a registration certificate to the applicants. After receiving the approval of the Securities and Exchange Board of India, the applicants need to pay a registration fee through the bank draft in favor of “The Securities and Exchange Board of India.” If the applicant is corporate the amount of registration fee is Rs. 1, 00,000, whereas the application fee for an individual is Rs. 10,000.
After receiving the registration certificate from SEBI, applicants can work as an investment advisor. However, in order to continue their career sans hassle and get up-to-date about the latest regulations, it is highly advisable to pay a visit to the official website of SEBI and find the latest news regarding the new circulars and updated guidelines. Moreover, they must also abide by requirements of reporting by SEBI from time to time. Do not ever deny the terms and conditions, renewal rules and various other aspects that can prevent you to enjoy the great career potential of investment advisor.
Where the applicant is a bank or NBFC, it should be permitted by RBI to act as IA and the application should be made through a subsidiary or separately identifiable department or division.
for more faqs about read this document from deloitte.
Financial Companies and Non-banking Finance Companies call the public to invest with them for a fixed time, carrying a prescribed rate. Company Fixed Deposits are like your deposits with […] Both Unit Linked Insurance Plan (ULIP) and Mutual Fund (MF) have found a lot of favour amongst the investors. With their varied features, both of them present investment opportunities, […] SEBI today in its circular announced the minimum contract size for equity derivatives from Rs.200,000 to Rs 5,00,000 effective from 30th October 2018 (Post October 2018 Expiry). It is […] Liquid fund belongs to the category of mutual fund which invests mainly in money market instruments like certificate of deposits, treasury bills, commercial papers and term deposits with a […] Quarter Sigma Order Size is the order size (price x Volume) required for the stock price movement of 1/4th of Standard deviation of the stock price and it should be greater than Rs10 lakh. […] In India, the financial system is regulated with the help of independent regulators, associated with the field of insurance, banking, commodity market, and capital market and also the […]
January 4, 2018 by.
Quarter Sigma Order Size is the order size (price x Volume) required for the stock price movement of 1/4th of Standard deviation of the stock price and it should be greater than Rs10 lakh. Higher the Quarter Sigma order Size means higher the liquidity and tougher for stock operators to manipulate the stock price movements to some extent.
August 20, 2017 by.
In India, the financial system is regulated with the help of independent regulators, associated with the field of insurance, banking, commodity market, and capital market and also the field of pension funds. Let us look in detail about the Financial Regulatory Bodies in India.
June 28, 2017 by.
Major E-commerce companies have stopped delivering goods in Kerala as the state government has levied tough rules regarding the sales tax. The state government does not permit these companies to sell products without paying the appropriate taxes.
June 24, 2017 by.
SEBI( Securities and Exchange Board of India) has very recently changed its rules and regulations of crowdfunding. If you do not have any idea on the term crowdfunding, it is worth to mention that the term crowdfunding refers to the solicitation of funds from several investors. This process is done through various social networking sites or web based platform to accomplish a particular project or social cause or any business venture.
June 19, 2017 by.
The career of investment advisors comes with great demand. They are the professional that provides exclusive assistance to the clients when the main area of concern is related with the financial matters. Whether it is equipped with retirement planning, insurance options and investment strategies, investment advisors are there to solve any type of problems related with monetary issues. If you are from India and planning to pursue your career as an investment advisor, you need to obtain proper registration certification that will facilitate you to work as an investment advisor.
June 11, 2017 by.
It is evident that holders of physical shares are mostly senior citizens that find it pretty impossible and difficult to convert the same in demat format. A recent study has brought into the limelight that about 300 crore shares of the present Sensex companies are available in physical form. There is hardly any room of doubt that dematerializing of your share would allow you to avoid the risk of losing the certificate or duplicating the same.
January 23, 2018 by.
Dabba means box and a dabba operator, in stock market terminology is the one who indulges in dabba trading. His office is like any other broker’s office having terminals linked to the stock exchange showing market rates of stocks. However, the difference is that the investor’s trades do not get executed on the stock exchange system but in the dabba operator’s books only.