Temporary overdraft limit in rupee accounts: authorised dealers may permit overdrafts subject to regulatory conditions and aggregate ceiling. An authorised dealer may permit a temporary overdraft in rupee accounts maintained by its overseas branch, correspondent or Head Office outside India subject to Reserve Bank prescribed terms and conditions; the ceiling is five hundred lakhs rupees measured by the aggregate of overdrafts outstanding to all such overseas units in the books of all the authorised dealer's branches in India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Temporary overdraft limit in rupee accounts: authorised dealers may permit overdrafts subject to regulatory conditions and aggregate ceiling.
An authorised dealer may permit a temporary overdraft in rupee accounts maintained by its overseas branch, correspondent or Head Office outside India subject to Reserve Bank prescribed terms and conditions; the ceiling is five hundred lakhs rupees measured by the aggregate of overdrafts outstanding to all such overseas units in the books of all the authorised dealer's branches in India.
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