Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals - RBI - Reserve Bank of India
Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals
RBI/2007-08/20 July 2, 2007 To, All Banks Authorised to Deal in Foreign Exchange Madam / Sir,Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals Remittance facilities for Non-Residents/Persons of Indian Origin/Foreign Nationals are being governed by sub-section (1) and (2) of section 6 of the Foreign Exchange Management Act, 1999 read with FEMA Notification No.13/2000-RB and FEMA Notification No. 21/2000-RB dated May 3, 2000 as amended from time to time. 2. This Master Circular consolidates the existing instructions on the subject of "Remittance facilities for Non-Resident Indians/Persons of Indian Origin/ Foreign Nationals" at one place. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in Appendix. 3. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2008 and be replaced by an updated Master Circular on the subject. Yours faithfully, (Salim Gangadharan) |