Question 1.Naresh, an Indian citizen, is interested in sending ₹ 10,000 to his sister residing in the USA as a birthday gift. Advice with reference to relevant provisions of the Foreign Exchange Management Act, 1999 and the rulesAnswer:Any person may sell or draw foreign exchange to or from an authorized person if such sale or […]
Question 1.A Bangladeshi millionaire is interested to invest in India subject to the FDI policy of the Government of India. Advice with reference to relevant provisions of the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder. [June 2010 (1 Mark)]Answer:As per Rule 6 of the FEM (Non-Debt Instrument) Rules, 2019, a
Question 1.An Indian company engaged in the financial sector is interested in making an investment in the banking business abroad. Advice with reference to relevant provisions of the Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder. [June 2010 (l Mark)]Answer:As per Regulation 6(1) of the FEM (Transfer or Issue of Foreign
Question 1.Write a short note on Foreign Currency Convertible Bond (FCCB).Answer:Meaning: Peculiarities of FCCB: Question 2.Write a short note on External Commercial Borrowing.Answer:(a) External Commercial Borrowings (ECBs) are commercial loans raised by eligible resident entities from recognized non-resident entities. (b) Externa] Commercial Borrowings should conform to the parameters j such as minimum maturity, permitted and
Question 1.Define ‘foreign contribution’ under the Foreign Contribution (Regulation) Act, 2010. [June 2015 (5 Marks)]Answer:Definition [Section 2(l)(h)]: Foreign Contribution means the donation, delivery or transfer made by any foreign source, of any: Explanation 1: Deemed to be ForeignContribution- Donation, delivery or & transfer of any article, currency or foreign security either directly or through one
Question 1.Define ‘foreign contribution’ under the Foreign Contribution (Regulation) Act, 2010. [June 2015 (5 Marks)]Answer:Definition [Section 2(l)(h)]: Foreign Contribution means the donation, delivery or transfer made by any foreign source, of any: Explanation 1: Deemed to be ForeignContribution- Donation, delivery or & transfer of any article, currency or foreign security either directly or through one
Question 1.Write a short note on Privileges of Star Export House [June 2010 (3 Marks)]Answer:Privileges to Status Holders: A Status Holder shall be eligible for privileges as under:1. Authorization and Customs Clearances for imports and exports may be granted on a self-declaration basis. 2. Input-Output norms may be fixed on priority within 60 days by
Question 1.Discuss briefly the regulatory framework governing the Non-Banking Finance Companies (NBFC) in India.Answer:(a) Regulated by RBI: With the amendment of the Reserve Bank of India Act, 1934 in January 1997, in terms of Section 45-IA, all Non-Banking | Financial Companies have to be mandatorily registered with the RBI. (b) Governing Chapter: The Reserve Bank
Question 1.Special Economic Zones are engines of growth. Discuss. [June 2014 (5 Marks)]Answer:(a) Meaning of SEZ: Special Economic Zone (SEZ) is a specifically delineated duty-free enclave and shall be deemed to be foreign territory I for the purposes of trade operations and duties and tariffs. (b) Earlier Regime: It is not the first time that
Question 1.Write a short note on the Basic rights of consumers [June 2013 (3 Marks)]Answer:Consumer rights are defined u/s 2(9) of Consumer Protection Act, 2019 as:Consumer rights include: Question 2.Discuss the basic rights of consumers under the Consumer Protection Act, 2019. [June 2014 (8 Marks)]Answer:Consumer rights are defined u/s 2(9) of Consumer Protection Act, 2019
