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A 2012 study, by Reserve Bank of India revealed 30.8% of total foreign remittances was from West Asia, compared to 29.4% from North America and 19.5% from Europe. [ 14 ] However, owing to the onslaught of COVID-19 , the World Bank has estimated a 9% decline in the remittances to India.
On 30 July 2007, UTI Bank changed its name to Axis Bank. [16] In 2009, Shikha Sharma was appointed as the MD and CEO of Axis Bank. [17] In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. [18] The Indian government intends to sell a 20.7% stake in Axis Bank in February 2014 for 57 billion rupees, equivalent to 925 ...
The late fee is to be paid by physically going to the State Bank of India, with the late fee payment details form. The State Bank of India is a state run bank. To deposit the money you will need, A photocopy of the payment details form obtained from the Foreigners Regional Registration Office. 1,400 rupees in cash.
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The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India". [1]
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The Foreign Contribution (regulation) Act, 2010 is an act of the Parliament of India, by the 42nd Act of 2010.It is a consolidating act whose scope is to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any ...
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