https://www.taxtmi.com/circulars?id=2762 RRBs, subject to Regional Office authorisation, may accept FCNR(B) deposits in specified currencies and must enter tie ups with sponsoring banks: foreign currency funds are received to the sponsor's nostro, treated as placements by the RRB, and managed by the sponsor. Sponsors may swap funds with RRBs only if the sponsor assumes all exchange and maturity mismatch risk. Interest, accounting and maturity payment arrangements are by mutual agreement. RRBs report non resident deposit data in CSR format while sponsoring banks report currency transactions in appropriate returns. en-us Thu, 05 Jul 2007 00:00:00 +0530 Mon, 06 Oct 2008 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2762 RRBs, subject to Regional Office authorisation, may accept FCNR(B) deposits in specified currencies and must enter tie ups with sponsoring banks: foreign currency funds are received to the sponsor's nostro, treated as placements by the RRB, and managed by the sponsor. Sponsors may swap funds with RRBs only if the sponsor assumes all exchange and maturity mismatch risk. Interest, accounting and maturity payment arrangements are by mutual agreement. RRBs report non resident deposit data in CSR format while sponsoring banks report currency transactions in appropriate returns. Circulars FEMA Thu, 05 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2762