Special Non-Resident Rupee Accounts: banks must label and transmit SNRR transactions and comply with FEMA requirements. Transactions debited from or credited to Special Non-Resident Rupee Accounts must be designated and transmitted as SNRR transactions by the authorised dealer bank, with outward payments communicated to the beneficiary bank including purpose code and country details, and inward remittances confirmed as SNRR credits; AD banks must comply with applicable FEMA provisions, rules, regulations and directions for such transactions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special Non-Resident Rupee Accounts: banks must label and transmit SNRR transactions and comply with FEMA requirements.
Transactions debited from or credited to Special Non-Resident Rupee Accounts must be designated and transmitted as SNRR transactions by the authorised dealer bank, with outward payments communicated to the beneficiary bank including purpose code and country details, and inward remittances confirmed as SNRR credits; AD banks must comply with applicable FEMA provisions, rules, regulations and directions for such transactions.
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