https://www.taxtmi.com/circulars?id=11715 Rupee Drawing Arrangements require AD Category I banks to obtain Reserve Bank approval for initial tie ups and to inform the Reserve Bank of subsequent arrangements; accounts must be separately maintained, operate on a credit basis without overdrafts, be funded by sale of permitted foreign currency, and used only for specified inward personal remittances and permitted payments. Arrangements may follow DDA, Non DDA or Speed Remittance procedures with prescribed auditor/inspection regimes, lien and collateral requirements based on exchange house vintage, and strict KYC/AML/CFT, internal control, reporting and audit obligations. en-us Mon, 02 Jul 2012 00:00:00 +0530 Tue, 03 Jul 2012 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11715 Rupee Drawing Arrangements require AD Category I banks to obtain Reserve Bank approval for initial tie ups and to inform the Reserve Bank of subsequent arrangements; accounts must be separately maintained, operate on a credit basis without overdrafts, be funded by sale of permitted foreign currency, and used only for specified inward personal remittances and permitted payments. Arrangements may follow DDA, Non DDA or Speed Remittance procedures with prescribed auditor/inspection regimes, lien and collateral requirements based on exchange house vintage, and strict KYC/AML/CFT, internal control, reporting and audit obligations. Circulars FEMA Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11715