Statutory refund interest requires correction of short computation and compensation where admitted interest remains unpaid through administrative dela...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
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The RBI issued instructions on Money Changing Activities u/s 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. FFMCs/non-bank ADs Category-II must maintain a 75% ratio between foreign currency notes sold and purchased quarterly starting July 1, 2024. They must submit annual audited balance sheets with NOF certification by Oct 31. Compliance is mandatory and non-compliance may lead to penalties. The FED Master Direction No.3 is being updated to reflect these changes.
The RBI issued instructions on Money Changing Activities u/s 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. FFMCs/non-bank ADs Category-II must maintain a 75% ratio between foreign currency notes sold and purchased quarterly starting July 1, 2024. They must submit annual audited balance sheets with NOF certification by Oct 31. Compliance is mandatory and non-compliance may lead to penalties. The FED Master Direction No.3 is being updated to reflect these changes.
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