Tag: FEMA

Individuals spared from new FEMA reporting requirement: RBI clarifies

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Individuals spared from new FEMA reporting requirement: RBI clarifies

Individuals undertaking forex transactions for personal purposes will not be covered by the Reserve Bank of India’s (RBI) new FEMA reporting requirements, Governor Sanjay Malhotra clarified on Wednesday, as concerns grew among freelancers, content creators and small service exporters. The RBI said it will soon issue a set of FAQs to clear the confusion surrounding…

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Enforcement Directorate questions Paytm executives; gets documents on latest RBI action

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Enforcement Directorate questions Paytm executives; gets documents on latest RBI action

Paytm said its associate Paytm Payments Bank Limited does not undertake outward foreign remittances. | Photo Credit: Reuters “The Enforcement Directorate (ED) has questioned senior Paytm executives and taken submission of documents from them following the recent Reserve Bank of India (RBI) action of barring Paytm Payments Bank Limited from accepting deposits or top-ups in…

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