Salient Features of Foreign Exchange Management Act,1999 (Part -2)

This post is in continuation of our previous post here. Salient Features of FEMA B. Duties and Liabilities of the authorized persons An authorized person may deal in foreign exchange or in foreign securities, as an authorized dealer, money changer… Continue Reading

Salient Features of The Foreign Exchange Management Act, 1999 (Part-1)

Introduction The legislative framework primarily relating to the management of the foreign exchange in India comprises of – (a) The Foreign Exchange Management Act, 1999 (FEMA) ; (b) Allied Rules made by Ministry (under section 46 of FEMA); (c) Regulations… Continue Reading

RBI’s Position with regard Virtual Currencies in India

Bitcoin as most common Virtual Currency Bitcoin is a decentralized payment framework that depends on proof of work. Initially presented in 2009, it is rising digital currency. Bitcoin is as of now coordinated over a few organizations and has a… Continue Reading

Statutory Regulation of Technology Driven Banking in India

The evolution of modern banking industries in India can be traced back to the Reports of the Rangarajan Committees in 1984 and 1989. Total Bank Automation (TBA) began with computerization of various branches of the bank.Internet  banking and mobile banking… Continue Reading

FUTURE OF CRYPTOCURRENCY IN INDIA: LEGAL ISSUES

“ There are 3 Eras of currency : Commodity based currency  , politically based currency and Crypto currency i.e virtual currency “ Even with the increase in the trading of Cryptocurrency (Virtual/Digital) among traders in India,  the legality is still… Continue Reading