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of <h1>AD Banks Must Ensure Clear Communication of SNRR Transactions, Comply with FEMA Rules and Regulations</h1> For transactions involving Special Non-Resident Rupee (SNRR) Accounts, Authorized Dealer (AD) Banks must ensure that INR payments debited from SNRR accounts to residents in India are clearly communicated as SNRR transactions, including purpose codes and country details. Similarly, any domestic inward remittance credited to SNRR accounts must be confirmed as SNRR transactions. AD Banks are required to comply with all relevant provisions of the Foreign Exchange Management Act (FEMA), including rules, regulations, and directions related to SNRR account transactions.
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