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          FEMA

          Whether a branch office (BO) or project office (PO) can send outward remittances, permissible under FEMA, through any AD Category I bank or it has to be through the designated AD Category I bank only?

          Liaison / Branch / Project Offices of foreign entities in India - As on Dec 26, 2016

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          Branch and Project Office outward remittances permitted via any AD Category I bank with NOC and KYC obligations. BOs and POs may remit outward funds through any AD Category I bank with a NOC from their designated AD Category I bank; remittances must be on Cash/Tom/Spot basis via banking channels. Two methods are prescribed: (1) designated bank transfers equivalent INR to the transaction-handling bank which remits by SWIFT while ensuring KYC, documentation, and sharing SWIFT/UIN/beneficiary details with the designated bank; or (2) designated bank transfers INR to the transaction-handling bank which credits the designated bank's NOSTRO account for the designated bank to remit to the beneficiary.
                            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.

                                  Branch and Project Office outward remittances permitted via any AD Category I bank with NOC and KYC obligations.

                                  BOs and POs may remit outward funds through any AD Category I bank with a NOC from their designated AD Category I bank; remittances must be on Cash/Tom/Spot basis via banking channels. Two methods are prescribed: (1) designated bank transfers equivalent INR to the transaction-handling bank which remits by SWIFT while ensuring KYC, documentation, and sharing SWIFT/UIN/beneficiary details with the designated bank; or (2) designated bank transfers INR to the transaction-handling bank which credits the designated bank's NOSTRO account for the designated bank to remit to the beneficiary.


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