Disclaimer

This website is only for informational purposes. Visitors are requested to note that the information is intended to be correct, complete, and up-to-date. Juris Corp does not warrant that the information contained on this website is accurate or complete, and disclaims any and all liability to any person for any loss or damage caused by errors or omissions, whether such errors or omissions result from negligence, accident or any other cause.

This website is not intended to be a source of advertising or solicitation. The reader must not consider the information contained herein to be an invitation for a lawyer-client relationship, must not rely on information provided herein and must seek independent advice. Transmission, receipt or use of any information on this website does not constitute or create a lawyer-client relationship. No recipients of content from this website should act or refrain from acting, based upon any or all of the contents of this website.

Furthermore, Juris Corp does not wish to represent anyone desiring representation based solely upon viewing this web site. Finally, the reader is warned that the use of e-mail for confidential or sensitive information is susceptible to inherent risks of lack of confidentiality associated with sending e-mail over the internet.

By clicking on the "I understand and agree" button below, the user acknowledges that:

  • This website is not a mode of advertisement, promotion, personal communication, or solicitation of any sort whatsoever and the user wishes to gain information about us for his/her own reasons;
  • Entering into this website does not establish a lawyer-client relationship.

We are not liable for any consequence of any action taken by the user relying on information provided under this website. In cases where the user has any legal issues, he/she must seek independent legal advice.

JC - Legal Updates - Infusion of capital and retention / repatriation / transfer of profits by Indian banks

Legal Updates

08 Dec 2021

Infusion of capital and retention / repatriation / transfer of profits by Indian banks

In order to provide greater operational flexibility, it has been decided that prior Reserve Bank of India approval for: (a) infusion of capital in their overseas branches and subsidiaries; and (b) retention of profits in, and transfer or repatriation of profits from these overseas centres, shall not be required by banks which meet the regulatory capital requirements (including capital buffers).

Instead, the banks shall seek approval of their boards for the same. The notification is applicable to all scheduled commercial banks (other than foreign banks), small finance banks, payment banks and regional rural banks.

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12205&Mode=0

For any further information, please contact Mr. Ankit Sinha (ankit.sinha@jclex.com), Mr. Saurabh Sharma (saurabh.sharma@jclex.com), Mr. Sumitava Basu (sumitava.basu@jclex.com) or Ms. Smrithi Nair (smrithi.nair@jclex.com).