Whether a branch office (BO) or project office (PO) can send outward remittances, permissible under FEMA, through any AD Category I bank or it has to be through the designated AD Category I bank only?

Whether a branch office (BO) or project office (PO) can send outward remittances, permissible under FEMA, through any AD Category I bank or it has to be through the designated AD Category I bank only? https://www.taxtmi.com/manuals?id=6371 BOs and POs may remit outward funds through any AD Category I bank with a NOC from their designated AD Category I bank; remittances must be on Cash/Tom/Spot basis via banking channels. Two methods are prescribed: (1) designated bank transfers equivalent INR to the transaction-handling bank which remits by SWIFT while ensuring KYC, documentation, and sharing SWIFT/UIN/beneficiary details with the designated bank; or (2) designated bank transfers INR to the transaction-handling bank which credits the designated bank's NOSTRO account for the designated bank to remit to the beneficiary. en-us Tue, 10 Dec 2024 14:37:00 +0530 Tue, 10 Dec 2024 14:37:00 +0530 TaxTMI RSS Generator Whether a branch office (BO) or project office (PO) can send outward remittances, permissible under FEMA, through any AD Category I bank or it has to be through the designated AD Category I bank only? https://www.taxtmi.com/manuals?id=6371 BOs and POs may remit outward funds through any AD Category I bank with a NOC from their designated AD Category I bank; remittances must be on Cash/Tom/Spot basis via banking channels. Two methods are prescribed: (1) designated bank transfers equivalent INR to the transaction-handling bank which remits by SWIFT while ensuring KYC, documentation, and sharing SWIFT/UIN/beneficiary details with the designated bank; or (2) designated bank transfers INR to the transaction-handling bank which credits the designated bank's NOSTRO account for the designated bank to remit to the beneficiary. Manuals FEMA Tue, 10 Dec 2024 14:37:00 +0530 https://www.taxtmi.com/manuals?id=6371