PEZA to celebrate 26th Anniversary with State of PEZA Address, to build partnerships with BSP and banks for credit facilities for ecozones pia.gov.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pia.gov.ph Daily Mail and Mail on Sunday newspapers.
RBI permits residents to make remittances to IFSCs under LRS
SECTIONS
Last Updated: Feb 16, 2021, 09:09 PM IST
Share
Synopsis
The RBI, in a notification, said it has reviewed the extant guidelines on LRS and decided to permit resident individuals to make remittances under LRS to IFSCs set up in India under the Special Economic Zone Act, 2005.
Reuters
The decision of the RBI is aimed at deepening the financial markets in the IFSCs and providing an opportunity to resident individuals to diversify their portfolios.
MUMBAI: The Reserve Bank on Tuesday permitted resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to International Financial Services Centres (IFSCs) in the country.
He also sought the hiring of 20,000 additional firemen.
In his Senate Bill 1832, or the “Bureau of Fire Protection Modernization Act of 2020,” reported out by the Senate Committee on Public Order and Dangerous Drugs last year, Dela Rosa pointed out the urgent need to expand BFP’s powers and functions which should include the agency’s authority to inspect structures within the Special Economic Zones for fire safety as well as to conduct necessary probe in the event of destructive fire.
Dela Rosa, former Philippine National Police (PNP) chief, cited the incident of fire that hit a prominent hotel within an Eco Zone which claimed several lives. He reiterated that such loss of lives could have been averted if the BFP had conducted a fire safety inspection in the area.
Press Release
DELA ROSA: AUTHORIZE BFP TO INSPECT ECONOMIC ZONES, 20,000 ADDITIONAL FIREMEN NEEDED
Senator Ronald Bato Dela Rosa is pushing to expand the powers and functions of the Bureau of Fire Protection (BFP) considering the agency s crucial role in saving lives and properties in times of fire and various disasters.
In his Senate Bill No. 1832 or the Bureau of Fire Protection Modernization Act of 2020, reported out by the Senate Committee on Public Order and Dangerous Drugs last year, Dela Rosa pointed out the urgent need to expand BFP s powers and functions which should include the agency s authority to inspect structures within the Special Economic Zones for fire safety as well as to conduct necessary probe in the event of destructive fire.