Corporate Updates – 29-05-2015


The Reserve Bank of India is entrusted with the responsibility of regulating and supervising the Non-Banking Financial Companies and it has been felt necessary to explain the rationale underlying the regulatory changes and provide clarification on certain operational matters for the benefit of the NBFCs, members of public, rating agencies, etc. To meet this need, the clarifications in the form of questions and answers, is being brought out by the Reserve Bank of India (Department of Non-Banking Supervision) with the hope that it will provide better understanding of the regulatory framework (FAQ on Non-Banking Financial Companies). All the Non Banking Financial Institutions/Companies registered with MCA are requested to comply with the requirement of section 45-IA of the RBI Act, 1934, if applicable to them.


Served From India Scheme (SFIS) is one of the reward schemes under Foreign Trade Policy. SFIS is provided to exporters on the basis of export of certain goods or services to certain specified countries. Under SFIS scheme, all Indian Service Providers who earns foreign exchange of Indian Rupees 10 lakhs in current or preceding financial year are eligible. Application Form ANF 3B-2 for SFIS for Net Foreign Exchange earning in the year 2014 -15 has been released and shall required to be filed for claiming benefit under the Scheme (SFIS) for the year 2014-15. Further, Certificate from Company Secretary /CA/CWA is also required to be attached with the form.

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