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Agreement with other Countries on Money Laundering Information

News and Press Release - Dated:- 6-3-2018 - The Government of India has entered into Double Taxation Avoidance Agreements (DTAAs), Tax Information Exchange Agreements (TIEAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) with over 130 countries including tax havens. These agreements allow exchange of information between countries for tax purposes including information pertaining to money laundering and funding. On request made by Government of India under t .....

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ere modified in terms of SEBI Circular dated June 10, 2016. As per the submissions made by the ODI issuing FPIs the outstanding Notional value of ODIs issued by them during last few years is given in the table as per Annexure - A. Out of the total number of 354 Anti-Profiteering applications, the Standing Committee has forwarded 65 applications to the Directorate General of Safeguards for investigation. Notices of initiation of investigation have been issued by the Directorate General of Safegua .....

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in Indian Capital Markets through ODI/ PN route. Some of the recent steps taken by SEBI are as follows:- In terms of SEBI (FPI) Regulations, 2014, ODIs/ PNs can be issued only to those entities which are regulated by the appropriate regulatory authority in the countries of their incorporation, after compliance with Know Your Client (KYC) norms. Further, only Category (I) and Category (II) FPIs can issue/subscribe or otherwise deal in ODIs/PNs whereas none of the Category (III) FPIs can deal in O .....

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bility norms between Foreign Portfolio Investors (FPI) regime and subscription through the ODIs have been aligned. In terms of SEBI circular dated June 10, 2016 FPIs are required to maintain the BO information of its ODI subscribers in line with the Rule 9 of PMLA, i.e., BO information is to be furnished in case the holding of natural person(s) is above specified thresholds. In terms of SEBI (FPI) Regulations, 2014 Resident Indians/NRIs or the entities which are beneficially owned by Resident In .....

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derlying, with the exception of those derivative positions that are taken by the ODI issuing FPI for hedging the equity shares held by it, on a one to one basis. Annexure - A As on the last day of the Month Notional Value of outstanding PNs on Equity, & Debt and Derivatives * (INR cr.) Assets Under Custody of all FPIs # (INR cr.) Notional Value of outstanding PNs on Equity, Debt and Derivatives as % of B Notional value of ODIs on Equity & Debt excluding Derivatives * (INR cr.) Notional V .....

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Aug-14 211,499 2,047,175 10.3 161,682 7.9 Sep-14 222,394 2,084,161 10.7 168,322 8.1 Oct-14 265,675 2,171,276 12.2 186,496 8.6 Nov-14 249,210 2,267,910 11.0 187,039 8.2 Dec-14 236,677 2,245,157 10.5 190,595 8.5 Jan-15 268,033 2,402,441 11.2 208,783 8.7 Feb-15 271,752 2,456,321 11.1 208,447 8.5 Mar-15 272,078 2,411,810 11.3 211,605 8.8 Apr-15 268,168 2,355,308 11.4 206,374 8.8 May-15 284,826 2,413,049 11.8 213,163 8.8 Jun-15 275,436 2,386,457 11.5 208,578 8.7 Jul-15 272,053 2,453,014 11.1 205,444 .....

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