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of <h1>RBI Master Circular on Remittance for NRIs, PIOs, and Foreign Nationals: Guidelines Under FEMA 1999.</h1> The Master Circular issued by the Reserve Bank of India consolidates existing instructions regarding remittance facilities for Non-Resident Indians, Persons of Indian Origin, and Foreign Nationals. Governed by the Foreign Exchange Management Act, 1999, and subsequent notifications, it provides a comprehensive guide for authorized banks on handling remittances. This circular, effective from July 1, 2008, includes a sunset clause, expiring on July 1, 2009, and will be replaced by an updated version. The circular aims to streamline and clarify the remittance processes for the specified non-resident groups.
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