Reserve Bank of India (RBI) Consulting Services

RBI (Reserve Bank of India) was set up in 1935, according to the Reserve Bank of India Act, 1934 provision. Since 1937 its central office is in Mumbai. Originally it was owned privately but after the nationalization in 1949, it is completely regulated by Government of India.

RBI was nationalized in 1949. The general superintendence of the Bank is in responsible to Central Board of Directors comprising of 20 members, one Government official from the Ministry of Finance, the Governor and four Deputy Governors, 10 nominated Directors by the Government which are selected for giving output on major economic life of the country. 4 nominated directors by the central government are appointed for representing 4 local Boards with Headquarters at Kolkata, Chennai, New Delhi and Mumbai. Local board comprise of 5 members. Each is appointed by the central Government for representing territorial, interest of co-operative and indigenous banks and economic interests.

As the supreme Bank authority, RBI enjoys the following powers:

  • Controlling the credit operations of banks through qualitative and quantitative approach
  • Acts as lender of last resort for scheduled banks as it provides them rediscount facilities.
  • Supervise the banking system through licensing, calling for information and inspection
  • It regulates and holds the cash reserve of the scheduled banks

The Reserve Bank of India Act which was commenced on 1 April, 1935 lay before the statutory basis of the bank’s functioning. The banks were established for the following purposes:

  • For maintaining reserves in order to secure monetary stability
  • For Regulating the bank note issue
  • For operating currency and credit system to its advantage

FUNCTIONS OF RESERVE BANK OF INDIA

The Act of 1934 entrust all the important functions of the central bank (Reserve Bank of India)

  • Bank of Issue
  • Banker to government
  • Controller of Credit
  • Lender of the last Resort
  • Supervisory functions
  • Custodian of Foreign Reserves
  • Promotional Functions

CLASSIFICATION OF RBI FUNCTIONS

The functions which are monetary also called as the central banking functions of the RBI relates to control and regulation of money and credit, i.e., control of bank credit, controls, issue of currency of F.E. (foreign exchange) operations, banker to the govt. (Government) and to the money market. Monetary functions of the RBI are the most significant part as they control and regulate the volume of money and credit in the country.

The non-monetary functions are equally important in relation with India’s economic backwardness. The supervisory function of the RBI is mostly regarded as non-monetary function. The establishment of flawless banking system in India accounts to the primary motive of RBI. Under the Banking Regulations Act, 1949, the RBI has been empowered with certain important functions like branch expansion, licensing of the banks, management, liquidity of their assets, reconstruction and liquidation, inspection and amalgamation. RBI’S strict supervision of the banks have resulted in effective functioning of the banks. The Commercial banks have developed to a commendable financial and operationally sound units. The RBI's power is to supervise have now been increased to non-banking financial intermediaries. Since independence, particularly after its nationalization 1949, the RBI has followed the promotional functions vigorously and has been responsible for strong financial support to industrial and agricultural development in the country.

  • Aim to ensure monetary and interest rate atmosphere prioritizing price stability, financial markets in perfect order, accurate anchoring of inflation expectations while concentrating on evaluation and attainment of growth momentum
  • Formulation, implementation and supervising the monetary policy
  • Maintaining Price Stability and ensuring sufficient credit flow to productive sectors
  • Reply on regular basis from unfavorable international matters to the domestic situation, stressing on inflation expectations, growth momentum and financial stability covering both conventional and unconventional techniques
  • Emphasis on credit delivery and quality particularly for employment intensive sectors along with pursuing financial inclusion
  • To suggest central boards on local matters and local cooperative economic matters and indigenous banks and to represent territorial. Performing other services direction by Central Board at regular intervals.
  • Authorization/ refusing the authorization of/to payment systems.
  • To formulate certain policy focusing on promoting digital payment mode from paper-based payment systems
  • Devising regulatory framework of fresh payment ways and initiatives
  • Increasing the feasibility for the customers with regard to payment mode
  • Strengthening the security in electronic and paper-based modes of payment

BENEFITS AND BENEFICIARIES OF RBI LEGAL COMPLIANCE FOR ORGNISATION

  • It lay emphasis on approach and attitude
  • Legal compliance assist business to function smoothly
  • Business is the biggest beneficiary
  • Compliance is a business enabler and not a burden!
  • Society and stakeholders’ benefits
  • Focus on business
  • Building reputation for Corporate India

The non-compliance with RBI could result in stringent actions. Failure to comply with the statutory requirements of RBI can result in fines, penalties, and in the most extreme cases, imprisonment for the company, Directors and/or the officer-in-charge of the Company.

What Rajput Jain & Associates Offers

We have established ourselves in the industry as one of the leading RBI Consultants in New Delhi. Our company provide complete insight and guidance into the queries related to Foreign Direct Investments, Acquisition and Transfer of Indian Immovable Property, Foreign Portfolio Investment, Acquisition and Transfer of Indian Company shares and more. Backed by a highly qualified team, we strive hard to assist the clients in the best possible way we can:

Our services:

EVENT BASED ADVISORY :

  • Acquisition and Transfer of Indian Immovable Property
  • Foreign Portfolio Investment
  • Foreign Direct Investment
  • Allotment of shares at premium to non-residents
  • Allotment of Shares to non-residents
  • Foreign Technology Transfer Agreements in India
  • Transfer of shares from residents of India to non-residents.
  • Supporting foreign clients in abiding by the RBI regulations for wholly Owned subsidiaries, Project Offices, Liaison and Branch offices operations.
  • Incorporation of company in India by NRI
  • Creating applications for purchase/sale of shares, debentures & securities, directly to and from Residents in India and outside India to RBI.
  • Application addressing RBI for purchase and sale of commercial/ residential property which also includes renting out property
  • Establishment of partnerships by NRI'S or persons of Indian origin.

REGULAR APPROVALS :

  • Filling disclosures and forms for regular compliances
  • Timely disclosures and submission of returns

SERVICES TO NBFC SECTOR

  • Registering of the companies as Non-Banking Financial Companies (NBFC) with RBI
  • Turnkey Compliance Services to existing NBFCs
  • Appealing to the Appellate Authority against rejection of NBFC Applications by the RBI

Happy Customers

200+

Projects Completed

550+

Serving Since

2009

Contracts Signed

700+

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Rajput Jain & Associates

India's Largest Business Services Platform

Rajput Jain and associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.

Rajput Jain and associates is a network of experienced chartered accountants, lawyers, company secretaries, cost accountants, financial experts, expert bankers all over India to provide the needed services for small and medium size enterprises.

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AITC (Association of Internation Tax Consultants)

We are the exclusive member in India of the Association of International Tax Consultants, an association of independent professional firms represented throughout Europe, US, Canada, South Africa, Australia and Asia.

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  • Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.

    A US consultancy group

  • Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.

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  • We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.

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The information contained on this website merely provides details of our firm to persons who have shown interest in knowing more about us and is not intended to solicit work or advertise our capabilities in any manner. The information provided on this website is general in nature and should not be used as a basis of decision-making without further professional advice. The third party site links are only provided for ready reference of the users and CA Rajput Jain & Associates neither controls their content nor undertakes any responsibility regarding them.

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