<< SEBI likely to ease the Shackles i... << Financial Woes to cont...
Reporting procedure for FDIs to be changed- RBI

Author Name: Neha Dhamija



RBI is thinking on revising the procedure followed by FDIs. The decision that was taken on Friday is a step to improve the Know Your Customers (KYC) norms.


The guidelines that govern the transfer of shares and convertible debentures from resident to non-resident or vice-versa will be re-issued with some changes. The move is believed to provide more comprehensive detailing to the investment done. Also, the rules to be followed when a bank is to submit the details regarding the inflows or outflows that occur in the course of remittances have undergone a change.


The Banks which receive the remittance are required to submit the KYC form to the bank which is receiving the form from the Indian Company.
 
Latest E-youth
Relevance of Economy News
With the increase in liberalization, privatization and globalization of the economies, people of a given nation are more involved and thereby make greater contribution to their country's economic More..
Key Indicators for Economic Growth 
The 'most recognized' indicators used for assessing a nation's economic growth are 'GDP' (Gross Domestic Product), 'GNP' (Gross National Product) and Balance of Payments. More..
Gross Domestic Product (GDP) - A Primer
In addition to being one of the most useful and trusted indicators of a nation's economic growth since decades, GDP also hints at the standard of living which the people of the country share. More..
Current State of Global Economy
The current state of Global Economy can be compared to that of a giant ship that existed, by the name 'Titanic'. This huge object was projected as something that was 'unsinkable'. More..
United States Economy
The US economy is the largest economy of the world. It is the most significant part of the world economy and can affect the international trade drastically More..
Overview of China's Economy
China's economy has been ranked as the world's fastest growing economy that has succeeded to escalate even after being the most populous nation of the world. More..
Major Economies of the World
To understand the World Economy well, you must attain the in-depth knowledge along More..
Singapore Economy - An Overview
The Singapore economy is also termed as the free-market economy or the capitalist mixed economy. More..
Indian Economy - An Overview
Over the recent years, the Indian economy has emerged as a star in the global economy. The world economy has witnessed the Indian economy surging ahead overcoming all the obstacles and breaking the barriers. During the year 2007, the growth of this dynamic economy was measured to be 9.2 percent. The reasons behind the rapid growth of the Indian economy are the markets reforms supported by huge FDI inflows, More..
G20 – An Overview
The G20 is a collaborative effort of 20 finance ministers and central bank governors from 19 economies of the world along with the European Union formed to cooperate and consult on matters relating to international financial system. Along with the European union the G20 group includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Korea, Turkey, the United Kingdom, United States, More..
   Contact Us | About Us   Copyright © 2008 EconomyNews.in