https://www.taxtmi.com/circulars?id=52644 Foreign investors may remit funds through any bank for permitted transactions and transfer those funds to the designated custodian bank via the banking channel. The remittance receiving bank and the beneficiary bank share joint KYC responsibility: the first bank holds remitter and purpose details while the receiving bank holds recipient information. The remittance receiving bank must issue a Foreign Inward Remittance Certificate (FIRC) to the bank receiving the proceeds. Prior circular conditions on hedging of investments apply mutatis mutandis and statutory permissions under foreign exchange law remain applicable. en-us Mon, 20 Jan 2014 00:00:00 +0530 Mon, 20 Jan 2014 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52644 Foreign investors may remit funds through any bank for permitted transactions and transfer those funds to the designated custodian bank via the banking channel. The remittance receiving bank and the beneficiary bank share joint KYC responsibility: the first bank holds remitter and purpose details while the receiving bank holds recipient information. The remittance receiving bank must issue a Foreign Inward Remittance Certificate (FIRC) to the bank receiving the proceeds. Prior circular conditions on hedging of investments apply mutatis mutandis and statutory permissions under foreign exchange law remain applicable. Circulars FEMA Mon, 20 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52644