With an aim to make India’s International Financial Services Centre (IFSC) more attractive, the Reserve Bank of India removed restrictions on individuals from opening interest-earning Foreign Currency Accounts (FCA). Further, the central bank removed the condition of repatriating any funds lying idle in the FCA account for a period of up to 15 days. In February 2021, the RBI allowed resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to IFSCs set up in India. However, the remittances were to be made only for making investments in IFSC securities. Moreover, only a non-interest-bearing FCA was allowed in IFSCs under LRS. And any funds lying idle in the account for a period up to 15 days from the date of its receipt were to be immediately transferred back to the domestic account of the investor in India.
Who bears the burden of proof in a legal proceeding?
Under the Payment of wages Act. 1936 payment of wages of establishments employing not more than 1000 employees shall be paid within of the wage month
In a prosecution for offenses under various sections of the Bharatiya Nyaya Sanhita, 2023, when the question of consent is at issue, which of the follo...
Which of the following is/are not included in the definition of ‘Employee’ as given in Section 2(i) of the Minimum Wages Act, 1948
Which of the following is not included in the definition of Wages under the Minimum Wages Act 1948?
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Which one of the following Acts requires employers in industrial establishments formally to define conditions of employment under them mdash;
Under the Arbitration & Conciliation Act, when does the mandate of an arbitrator terminate, and who replaces the arbitrator?
When shall an employer be liable to pay compensation to an employee as per the Employee’s Compensation Act?
