Withdrawal of obsolete FEMA circulars streamlines rules on external commercial borrowings, non-resident bond investments, and money transfer sub-agent...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Authorised Dealer Category-I banks are no longer required to submit annual lists of offices or branches maintaining Rupee accounts of non-resident banks, or report temporary overdrawals by overseas branches or correspondents exceeding permissible limits where unadjusted within five days. These reporting requirements are dispensed with immediate effect, reducing periodic and event-based reporting obligations for accounts of non-resident banks. Any permissions or approvals required under other applicable laws remain unaffected.
Authorised Dealer Category-I banks are no longer required to submit annual lists of offices or branches maintaining Rupee accounts of non-resident banks, or report temporary overdrawals by overseas branches or correspondents exceeding permissible limits where unadjusted within five days. These reporting requirements are dispensed with immediate effect, reducing periodic and event-based reporting obligations for accounts of non-resident banks. Any permissions or approvals required under other applicable laws remain unaffected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
