Circular No. / 04 /2007-08
Banks Authorised to Deal in Foreign Exchange
/ Sir,Master Circular
on Remittance Facilities for Non-Resident Indians /
of Indian Origin / Foreign Nationals
facilities for Non-Residents/Persons of Indian Origin/Foreign Nationals are being
governed by sub-section (1) and (2) of section 6 of the Foreign Exchange Management
Act, 1999 read with FEMA Notification No.13/2000-RB and FEMA Notification No.
21/2000-RB dated May 3, 2000 as amended from time to time.
This Master Circular consolidates the existing instructions on the subject of
facilities for Non-Resident Indians/Persons of Indian Origin/ Foreign Nationals"
at one place. The list of underlying circulars/notifications consolidated in this
Master Circular is furnished in Appendix.
This Master Circular is being issued with a sunset clause of one year. This circular
will stand withdrawn on July 1, 2008 and be replaced by an updated Master Circular
on the subject.