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of <h1>RBI Issues Consolidated Guidelines on Foreign Exchange Transactions and Remittances Under FEMA, 1999 for Authorized Dealers.</h1> The Reserve Bank of India (RBI) has issued a Master Direction consolidating various A.P (DIR Series) Circulars under the Foreign Exchange Management Act (FEMA), 1999. It provides guidelines for authorized dealers on foreign exchange transactions, tax compliance on remittances, repatriation of assets by NRIs, joint resident bank accounts with NRIs, and medical expenses for NRI relatives. It also addresses the routing of funds raised abroad, information sharing with a Special Investigation Team, crystallization of inoperative foreign currency deposits, and operational guidelines for International Financial Services Centres. Non-bank entities can facilitate outward remittance services through authorized banks under specific conditions.
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