https://www.taxtmi.com/circulars?id=2641 Authorised Dealer Category I banks may permit ship manning and crew managing agencies in India to open non interest bearing foreign currency accounts for business transactions; credits only by inward remittances from the overseas principal through normal banking channels, debits for ship/crew management expenses, no credit facilities against funds in the account, banks must meet reserve requirements, no EEFC facility for these remittances, and accounts maintained only for the agreement's validity period. en-us Mon, 30 Apr 2007 00:00:00 +0530 Mon, 06 Oct 2008 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2641 Authorised Dealer Category I banks may permit ship manning and crew managing agencies in India to open non interest bearing foreign currency accounts for business transactions; credits only by inward remittances from the overseas principal through normal banking channels, debits for ship/crew management expenses, no credit facilities against funds in the account, banks must meet reserve requirements, no EEFC facility for these remittances, and accounts maintained only for the agreement's validity period. Circulars FEMA Mon, 30 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2641