Permissible remittances through exchange houses now include remittances to national relief fund subject to direct bank credit and remitter details. The circular revises the list of permissible transactions under Drawing Arrangements with Exchange Houses to add payments to utility providers, tax payments, EMI repayments to banks and NBFCs, and remittances to the Prime Minister's National Relief Fund (subject to direct credit by banks and maintenance of remitter details). It reiterates that exchange houses are for inward personal remittances, prohibits routing donations to charities, amends the trade transaction ceiling, preserves other listed personal and investment payments, and directs AD Category I banks to notify constituents while remaining subject to FEMA Sections 10(4) and 11(1).
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Permissible remittances through exchange houses now include remittances to national relief fund subject to direct bank credit and remitter details.
The circular revises the list of permissible transactions under Drawing Arrangements with Exchange Houses to add payments to utility providers, tax payments, EMI repayments to banks and NBFCs, and remittances to the Prime Minister's National Relief Fund (subject to direct credit by banks and maintenance of remitter details). It reiterates that exchange houses are for inward personal remittances, prohibits routing donations to charities, amends the trade transaction ceiling, preserves other listed personal and investment payments, and directs AD Category I banks to notify constituents while remaining subject to FEMA Sections 10(4) and 11(1).
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