Rupee Drawing Arrangement limit increase expands permissible trade remittance per transaction, effective immediately under FEMA authority. The Reserve Bank amended the Rupee Drawing Arrangements to raise the per transaction ceiling for trade related remittances carried out through Rupee/Foreign Currency vostro accounts of non resident exchange houses, effective immediately. All other provisions of the Memorandum of Instructions remain unchanged. Authorised Dealer Category I banks must notify their constituents. The directions are issued under FEMA and do not affect any permissions required under other laws.
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Provisions expressly mentioned in the judgment/order text.
Rupee Drawing Arrangement limit increase expands permissible trade remittance per transaction, effective immediately under FEMA authority.
The Reserve Bank amended the Rupee Drawing Arrangements to raise the per transaction ceiling for trade related remittances carried out through Rupee/Foreign Currency vostro accounts of non resident exchange houses, effective immediately. All other provisions of the Memorandum of Instructions remain unchanged. Authorised Dealer Category I banks must notify their constituents. The directions are issued under FEMA and do not affect any permissions required under other laws.
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