Remittance of partly paid invoices is permissible, subject to total remittance not exceeding the amount indicated in the invoice. In terms of the extant guidelines, although the advertisement charges can be accepted in advance, along with the text of the advertising matter, by the Indian channel agent, the remittance can be made by the AD, only after the advertisements are telecast abroad and invoices raised thereafter, and subject to submission of the requisite documents as stated at (4) above such as invoice, tax declaration/deduction certificate, certificate from Chartered Accountant regarding foreign exchange earning in the past 2 years.

An application for repatriation of balance may be made on plain paper to the concerned Regional Office of Reserve Bank.

1. Any clarification in respect of specific cases could be obtained from the Reserve Bank’s Central office at the following address:

Overseas Investment Division,
Exchange Control Department,
Central office,
Reserve Bank of India,
Mumbai 400001.
or
e-mail: oid@rbi.org.in

Person going abroad for employment can draw foreign exchange upto US$5,000 from any authorised dealer in India.

1. A first time user should register through ATS using his/her valid email id.

2. A system generated Password will be forwarded to the applicant’s email id.

3. Thereafter, the applicant can login and submit his/her application and track the same.

4. As soon as an application is submitted through ATS, a unique application number is generated and forwarded to the applicant by the system.

5. A mail is sent by the system automatically when the application is disposed of or transferred from one office / department / section to another.

Banks are prohibited from employing / engaging any individual, firm company, association, institution for collection of deposits or selling of deposit linked products on payment of remuneration or fees or commission in any form or manner exceptcommissionpaid to agents employed to collect door to door deposits under a special scheme

The deposits kept in different branches of a bank are aggregated for the purpose of insurance cover and a maximum amount of upto Rupees five lakhs is paid.

Ans. Yes. Under this facility, cash can be withdrawn from PoS terminal(s) at designated merchant establishment(s), irrespective of the fact whether the card issuer and the acquiring bank are same or not.

Ans.

i. In NEFT payment messages, the field 7495 is a free format optional field consisting of 6 lines with 35 characters each with alphanumeric options. The first two lines of this field hall be used for capturing sender and beneficiary customer LEI information, in that order, where applicable and available. When LEI information is captured, narration, remarks, etc., shall be part of last 4 lines of the field. The sender and beneficiary information shall be captured in following format:

7495: line 1 -> SL/20 digit sender LEI/

line 2 -> BL/20 digit beneficiary LEI/

ii. In RTGS customer payment and inter-bank messages, the optional field “<-RmtInf->” has 4 repeat tags with each having 140 characters. The first two loops of this field shall be used for capturing sender and beneficiary customer LEI information, in that order, where applicable and available. When LEI information is captured, narration, remarks, etc., shall be part of last two repeating loops of the field. The sender and beneficiary information shall be captured in following format:

<-RmtInf-> loop 1 -> /SL/20 digit sender LEI/

loop 2 -> /BL/20 digit beneficiary LEI/

No, SEZ Units cannot open EEFC Accounts. However, a unit located in a Special Economic Zone can open a Foreign Currency Account with an Authorised Dealer in India subject to conditions stipulated in Regulation 4 (D) of Foreign Exchange Management (Foreign Currency Accounts by a person Resident in India) Regulations dated January 21, 2016.