RBI releases draft circular on declaration of dividends by banks and remittance of profits to Head Office by foreign bank branches in India

Jan 02, 2024 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Reserve Bank of India (RBI) on January 02, 2024, issued a notification regarding a draft circular on the declaration of dividends by banks and remittance of profits to Head Office by foreign bank branches in India.

The Reserve Bank of India released the draft circular on “Declaration of dividend by banks and remittance of profits to Head Office by foreign bank branches in India”.

Comments on the draft circular are invited from banks, market participants, and other stakeholders by January 31, 2024.

[Notification No. 2023-2024/1602]

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