Foreign inward remittances may be credited to beneficiary accounts at non tied banks via electronic transfer methods. Foreign inward remittances received by an AD Category I Bank that has a Rupee Drawing Arrangement with a Non Resident Exchange House may be credited directly to a beneficiary's account held with another bank through electronic modes such as NEFT or IMPS, even if the beneficiary's bank does not have a tie up with the Exchange House.
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.
Foreign inward remittances may be credited to beneficiary accounts at non tied banks via electronic transfer methods.
Foreign inward remittances received by an AD Category I Bank that has a Rupee Drawing Arrangement with a Non Resident Exchange House may be credited directly to a beneficiary's account held with another bank through electronic modes such as NEFT or IMPS, even if the beneficiary's bank does not have a tie up with the Exchange House.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
