Remittance restrictions: Liberalised Remittance Scheme barred to FATF non-cooperative jurisdictions; banks must update lists and notify customers. Remittances under the Liberalised Remittance Scheme are prohibited, directly or indirectly, to jurisdictions identified by the Financial Action Task Force as non cooperative; Authorised Dealer banks must maintain and periodically update a record of such jurisdictions from the FATF website and ensure branches and customers are informed, pursuant to directions issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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Remittance restrictions: Liberalised Remittance Scheme barred to FATF non-cooperative jurisdictions; banks must update lists and notify customers.
Remittances under the Liberalised Remittance Scheme are prohibited, directly or indirectly, to jurisdictions identified by the Financial Action Task Force as non cooperative; Authorised Dealer banks must maintain and periodically update a record of such jurisdictions from the FATF website and ensure branches and customers are informed, pursuant to directions issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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