Category Archives: International Trade News

Govt approves amendment in FDI Policy on Defence Sector

Press Note No. 4 (2020 Series), reviewing Foreign Direct Investment (FDI) Policy in Defence Sector Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has issued Press Note No. 4 (2020 Series), reviewing Foreign Direct Investment (FDI) Policy in Defence Sector. The decision will take effect from the date of […]

Inadequate regulatory oversight by financial market regulators resulting in regulated entities practising random ways to generate extra revenue

Inadequate regulatory oversight by financial market regulators resulting in regulated entities practising random ways to generate extra revenue In anxiety to improve the earnings under ‘miscellaneous income category,’ many business entities in the financial sector are looking at various opportunities and do mischievous things. I am focussing the banking segment for discussion. This, however, equally […]

Banking Regulation (Amendment) BIll, 2020 introduced in Lok Sabha

Banking Regulation (Amendment) Bill, 2020 which seeks to replace the Banking Regulation (Amendment) Ordinance, 2020 (Ord. 12 of 2020) provides for the following, namely:— (i) substitution of section 3 to provide that the Act shall not apply to— (a) a primary agricultural credit society; or (b) a co-operative society whose primary object and principal business […]

Overseas Direct Investment Without Remittance of Funds From India

An investment outside India can be done by an Indian party or an individual or (single or in association with another resident individual or with an ‘Indian Party’). All resident individuals, including minors, are allowed to freely remit up to USD 250,000 per financial year. An Indian Party can make overseas direct investment in any […]

Basic Customs Duty on Lentils (Mosur) reduced till 31.10.2020

Seeks to further amend notification No. 50/2017-Customs dated 30.06.2017 so as to reduce the Basic Customs Duty on Lentils (Mosur) for the period from 18th September, 2020 to 31st October, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 17th September, 2020 Notification No. 34/2020-Customs G.S.R. 567(E).—In exercise of the powers conferred by […]