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of <h1>Authorized Dealer Banks Must Ensure FEMA Compliance for SNRR Accounts in Trade Transactions Under Specific Rules</h1> The responsibility for FEMA compliance in trade transactions involving Special Non-Resident Rupee (SNRR) accounts is primarily on the Authorized Dealer (AD) banks. For debits to SNRR accounts related to export proceeds, the AD bank handling export documents must ensure compliance with FEMA rules and perform due diligence on the overseas client. It must provide detailed KYC information to the Indian exporter's bank. For credits to SNRR accounts for import payments, the AD bank managing import documents must ensure compliance and communicate necessary importer details. In cases of ECB, trade credits, and foreign investments, the designated AD bank must ensure FEMA compliance and share transaction details.
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