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July 3, 2012

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  • Master Circular on Foreign Investment in India : RBI has compiled and issued the Master Circular on Foreign Investment vide its notification RBI/2012-13/15 Master Circular No. 15/2012-13 dated 2nd July, 2012. This Master Circular also covers the area of ‘Investment in capital of partnership firms or proprietary concern’. This Master Circular is being issued with a sunset clause of one year.  This circular will stand withdrawn on July 1, 2013 and be replaced by an updated Master Circular on the subject.
  • External Commercial Borrowings (ECB) – Rationalisation of Form-83 : RBI vide its notification RBI/2011-12/620 A. P. (DIR Series) Circular No. 136 dated 26th June, 2012 2, decided to rationalize the Form-83 submitted to the Reserve Bank for obtaining Loan Registration Number (LRN) to reflect the liberalization and rationalization measures that have been carried out over a period of time. Accordingly, borrowers desirous of obtaining Loan Registration Number (LRN) with effect from July 01, 2012 may submit Form-83 in the revised format (Annex I).
  • External Commercial Borrowings (ECB) – Repayment of Rupee loans : RBI  vide its notification RBI/2011-12/617 A. P. (DIR Series) Circular No. 13  4 dated June 25, 2012   has decided to allow Indian companies to avail of ECBs for repayment of Rupee loan(s) availed of from the domestic banking system and / or for fresh Rupee capital expenditure, under the approval route, subject to them satisfying the conditions mentioned in the circular.
  • Annual return on Foreign Liabilities and Assets Reporting by Indian Companies – Revised format : RBI vide RBI/2011-12/613 A.P. (DIR Series) Circular No. 133 dated 20th June, 2011 has modified the format of Annual Return on Foreign Liabilities and Assets. An easy to fill soft form of the return with guidance to users and in-built validations is made available on RBI website( > Forms category > FEMA Forms) which can be duly filled -in, validated and sent by e-mail by 15th July every year.
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