RBI Circulars 2011-12

Rupee hits a new low of 54.82 against Dollar IPL Bangalore Team Player Luke Pomersback arrested by Delhi Police Shahrukh Khan banned for 5 years from entering in Wankhede Stadium CBI raids 15 MLAs in Jharkhand for taking bribe in Rajya Sabha elections Rajya Sabha passes Finance Bill 2012 Petrol & Diesel prices to be hiked Yeddy applies for bail after CBI raids on his residence Income Tax Officer SK Saini sentenced to 3 years RI + fine of Rs 35 Lakh by CBI Court in Bhopal IRS Officer Brahmananda Reddy arrested by CBI Founder of Matrix Laboratories Nimmagadda Prasad also arrested by CBI Tariff Value for import of Brass scrap is 4362 & for poppy seeds 3680-for gold 507 per 10 gram & for silver 920 per kg-Customs Non-Tariff Notification No.42 Customs duty exempted on import of 191 Products from Singapore-Customs Tariff Notification No.33 Import of 485 Products from Singapore exempted from Customs duty-Customs Tariff Notification No.34 Import of 496 Products from Singapore exempted from 50 per cent of applied rate of duty-Customs Tariff Notification No.35 Saurabh Chandra gets additional charge of Commerce Secretary ITAT Member N Vasudevan transferred from Mumbai to Bangalore-J Sudhakar Reddy moves from Mumbai to Delhi-IP Bansal from Delhi to Mumbai-IC Sudhir from Pune to Delhi CVD on imported electronics lowered due to higher rates of abatement from RSP notified-Abatement from MRP for excise payment on all electronic products prescribed at uniform rate of 35 per cent-Abatement revised for several products-Central Excise Non-Tariff Notification No.26 Suppliers to Mega Power Projects face silly excise demands-Click on the link below for full details Excise demand of Rs 32 Crore confirmed against Exide for not paying excise on MRP basis on lead acid storage battery RBI says Exporters required to convert 50 per cent of their foreign exchange holdings into Rupee within 15 days-Exporters will be allowed to buy foreign currency only after utilizing all their foreign currency holdings Articles of jewellery exempted from excise duty-Specified Railway Goods manufactured by Government exempted from excise -Central Excise Tariff Notification No.23 Excise on specified Petroleum Oils lowered Eye makeup preparations exempted from excise The excise exemption hitherto admissible on all Hawai Chappals will now be admissible to only Hawai Chappals of RSP up to Rs 500-Polyester staple fibre or polyester filament yarn, manufactured from plastic scrap or plastic waste including waste polyethylene terephthalate bottles exempted from excise-Excise on Motor chassis for vehicles lowered to 14 per cent excise-Excise on LED Lights of Chapter 85 lowered to 6 per cent-Inks for ball point pens exempted from excise-Central Excise Tariff Notification No.24-Parts of Footwear and hawai chappals of RSP not exceeding Rs. 500 per pair exempted from excise if consumed in factory-Central Excise Tariff Notification No.25-Excise exemption to goods required for initial setting up of solar power generation project or facility-Central Excise Tariff Notification No.26 CENVAT Credit (Fifth Amendment) Rules, 2012-No reversal of credit required for supplies made for setting up of solar power generation projects or facilities-Central Excise Non-Tariff Notification No.25 exemption from wholeof the additional duty leviable shall not apply to Hand held Metal/Mine/Bomb detectors etc.-Customs Tariff Notification No.30 Import of specified goods allowed at concessional rate of duty-Customs Notification No.31 Lok Sabha passes Finance Bill 2012 FM defers the applicability of GAAR provisions by one year- GAAR provisions will now apply to income of Financial Year 2013-14 and subsequent years-The retrospective clarificatory amendments now under consideration of Parliament will not be used to reopen any cases where assessment orders have already been finalized-long term capital gain arising from sale of unlisted securities in case of non-resident investors, including PE investors lowered to 10 per cent-FM extends benefit of tax exemption on long term capital gains to sale of unlisted securities in IPO-lower rate of withholding tax of 5% for funding all businesses-FM withdraws the provision for levy of TDS on transfer of immovable property-FM raises the threshold limit for TCS on cash purchases of jewellery to Rs.5 lakh-only serious offences under the customs law involving prohibited goods or duty evasion exceeding Rs.50 lakh, shall be cognizable- all these offences shall be bailable-changes in the definition of “service” which will exclude the activities specified in the Constitution as “deemed sale of goods”-The definition of “works contract” also enlarged to include movable properties- Exemption for specified services relating to agriculture in the Negative List extended to agricultural produce enlarging the scope of the entry Anti-dumping duty on imports of Partially Oriented Yarn, originating in, or exported from China-Customs Notification No.22 Customs duty on import of 806 Products from Japan lowered Anti-dumping duty imposed on import of Phosphoric Acid of all grades and all concentrations (excluding Agriculture/FertilizerGrade) , falling under tariff item 28092010, originating in, or exported from,Israel and Taiwan-Customs Tariff Notification No.19 Customs duty on import of composite fertiliser lowered to 1 per cent-Customs Tariff Notification No. 24

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RBI CIRCULARS 2011-2012

51/2011-12	External Commercial Borrowings (ECB) Policy
52/2011-12	External Commercial Borrowings (ECB) Policy – Parking of ECB proceeds
53/2011-12	Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
54/2011-12	Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
55/2011-12	Foreign Investment in Pharmaceuticals Sector - Amendment to the Foreign Direct Investment Scheme
56/2011-12	Foreign Direct Investment (FDI) in India - Issue of equity shares under the FDI scheme allowed under the Government route
57/2011-12	Foreign Exchange Management Act, 1999 (FEMA) Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) - Compounding of Contraventions under FEMA, 1999
58/2011-12	Risk Management and Inter Bank Dealings
59/2011-12	External Commercial Borrowings (ECB) for Micro Finance Institutions (MFIs) and Non-Government Organisations (NGOs)- engaged in micro finance activities under Automatic Route
60/2011-12	Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards / Combating the Financing of Terrorism (CFT) Obligation of Authorised Persons under Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 –
61/2011-12	Exim Bank's Line of Credit of USD 40 million to the Government of the Republic of Maldives
62/2011-12	Exim Bank's Line of Credit of USD 168 million to the Government of the Democratic Republic of Congo
63/2011-12	External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) - hedging facilities for non-resident entities
64/2011-12	External Commercial Borrowings (ECB)
65/2011-12	Foreign Exchange Management Act, 1999 – Export of Goods and Services - Forwarder’s Cargo Receipt
66/2011-12	(I) Scheme for Investment by Qualified Foreign Investors in equity shares (II) Scheme for Investment by Qualified Foreign Investors in Rupee Denominated Units of Domestic Mutual Funds – Revision
67/2011-12	Foreign investment in Single – Brand Retail Trading Amendment to the Foreign Direct Investment (FDI) Scheme
68/2011-12	Risk Management and Inter-Bank Dealings - Commodity Hedging
69/2011-12	External Commercial Borrowings – Simplification of procedure
70/2011-12	External Commercial Borrowings (ECB) Policy – Infrastructure Finance Companies (IFCs)
71/2011-12	Memorandum of Instructions governing money changing activities
72/2011-12	Memorandum of Instructions for Opening and Maintenance of Rupee /Foreign Currency Vostro Accounts of Non-resident Exchange H
73/2011-12	delegating powers to AD Category–I banks to open and maintain DDAs by eligible firms and companies subject to certain terms and conditions
74/2011-12	Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
75/2011-12	External Commercial Borrowings – Simplification of procedure
76/2011-12	Clarification - Establishment of Project Offices in India by Foreign Entities – General Permission
77/2011-12	Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Money changing activities
78/2011-12	Anti-Money Laundering (AML) standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme
79/2011-12	Clarification - Purchase of Immovable Property in India –Reporting requirement
80/2011-12	Export of Goods and Services- Simplification and Revision of Softex Procedure
81/2011-12	Export of Goods and Services - Receipt of advance payment for export of goods Involving shipment (manufacture and ship) beyond one year
82/2011-12	Release of Foreign Exchange for Imports – Further Liberalisation
83/2011-12	Import of Gold on Loan Basis-Tenor of Loan and Opening of Stand - By Letter of Credit
84/2011-12	Compilation of R-Returns: Reporting under FETERS
85/2011-12	External Commercial Borrowings (ECB) for Infrastructure facilities within National Manufacturing Investment Zone (NMIZ)
86/2011-12	Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating the Financing of Terrorism (CFT) / Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009- Assessment and Monitoring of Risk – Money Changing Activities
87/2011-12	Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating the Financing of Terrorism (CFT) / Obligation of Authorised Persons under Prevention of Money Laundering Act (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009 - Assessment and Monitoring of Risk - Cross Border Inward Remittance under Money Transfer Service Scheme
88/2011-12	Clarification - Establishment of Branch Offices (BO) / Liaison Offices (LO) in India by Foreign Entities – Delegation of Powers
89/2011-12	Foreign Institutional Investor (FII) investment in ‘to be listed’ debt securities
90/2011-12	Clarification - Liberalised Remittance Scheme for Resident Individuals
91/2011-12	Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
92/2011-12	Opening of Diamond Dollar Accounts (DDAs) –Change in periodicity of the reporting
93/2011-12	Investment in Indian Venture Capital Undertakings and /or domestic Venture Capital Funds by SEBI registered Foreign Venture Capital Investors
94/2011-12	Clarification - Prior intimation to the Reserve Bank of India for raising the aggregate Foreign Institutional Investors / Non-Resident Indian limits for investments under the Portfolio Investment Scheme
95/2011-12	Foreign Exchange Management (Deposit) Regulations, 2000 - Credit to Non Resident (External) Rupee Accounts
96/2011-12	Overseas Direct Investments by Indian Party – Rationalisation
97/2011-12	Overseas Investments by Resident Individuals – Liberalisation / Rationalisation
98/2011-12	Discontinuation of Supplying Printed GR forms by Reserve Bank
99/2011-12	External Commercial Borrowings (ECB) Policy – Review of all-in-cost ceiling
100/2011-12	Trade Credits for Imports into India – Review of all-in-cost ceiling
101/2011-12	Overseas Direct Investments – Liberalisation / Rationalisation
102/2011-12	Use of International Debit Cards/Store Value Cards/Charge Cards/Smart Cards by Resident Indians while on a visit outside India
103/2011-12	Data on import of Gold – Statements – Modification
104/2011-12	Authorised Dealer Category II – Permission for additional activity and opening of Nostro account
105/2011-12	Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR
106/2011-12	Exim Bank's Line of Credit of USD 150 million to the Ecowas Bank for Investment and Development (EBID)
107/2011-12	Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Money changing activities
108/2011-12	Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme
109/2011-12	Authorised Dealer Category II – Permission for additional activity and opening of Nostro account
110/2011-12	Exim Bank's Line of Credit of USD 15 million to the Government of the Republic of Togo
111/2011-12	External Commercial Borrowings (ECB) Policy –Liberalisation and Rationalisation
112/2011-12	External Commercial Borrowings (ECB) Policy – Refinancing / Rescheduling of ECB
113/2011-12	External Commercial Borrowings (ECB) for Civil Aviation Sector
114/2011-12	Exim Bank's Line of Credit of USD 80 million to the Government of the Republic of Burundi
115/2011-12	Exim Bank's Line of Credit of USD 70 million to the Government of the Republic of Congo
116/2011-12	Exim Bank's Line of Credit of USD 382.37 million to the Government of the Democratic Socialist Republic of Sri Lanka
117/2011-12	Transfer of Funds from Non-Resident Ordinary (NRO) account to Non- Resident External (NRE) Account
118/2011-12	Release of Foreign Exchange for Miscellaneous Remittances
119/2011-12	External Commercial Borrowings (ECB) Policy - Utilization of ECB proceeds for Rupee expenditure
120/2011-12	Foreign Direct Investment (FDI) in India - Issue of equity shares under the FDI scheme allowed under the Government route
121/2011-12	Foreign investment in Commodity Exchanges and NBFC Sector -Amendment to the Foreign Direct Investment (FDI) Scheme
122/2011-12	Risk Management and Inter Bank Dealings
123/2011-12	Risk Management and Inter Bank Dealings
124/2011-12	Exchange Earner's Foreign Currency (EEFC) Account
125/2011-12	Exim Bank's Line of Credit of USD 13 million to the Government of the Republic of Mozambique
126/2011-12
127/2011-12
128/2011-12
129/2011-12
130/2011-12

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