https://www.taxtmi.com/circulars?id=53479 The circular increases the per transaction trade remittance limit under the Rupee Drawing Arrangement and permits Authorised Dealer Category I banks to regularise payments exceeding the prescribed limit if satisfied of the transaction's bonafides. Regularisation is subject to conditions: remittances must be from FATF compliant countries, banks must complete KYC/AML/CFT and other due diligence, review and report frequent high value senders, obtain additional information from correspondents, retain records for scrutiny, and ensure export proceeds received through RDA are applied to outstanding export finance with an exporter declaration. en-us Thu, 21 May 2015 00:00:00 +0530 Thu, 21 May 2015 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53479 The circular increases the per transaction trade remittance limit under the Rupee Drawing Arrangement and permits Authorised Dealer Category I banks to regularise payments exceeding the prescribed limit if satisfied of the transaction's bonafides. Regularisation is subject to conditions: remittances must be from FATF compliant countries, banks must complete KYC/AML/CFT and other due diligence, review and report frequent high value senders, obtain additional information from correspondents, retain records for scrutiny, and ensure export proceeds received through RDA are applied to outstanding export finance with an exporter declaration. Circulars FEMA Thu, 21 May 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53479