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Date: 02/07/2007
Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals

RBI/2007-08/20
Master Circular No. / 04 /2007-08

July 2, 2007

 

To,

All Banks Authorised to Deal in Foreign Exchange

Madam / Sir,Master Circular on Remittance Facilities for Non-Resident Indians /

Persons of Indian Origin / Foreign Nationals

Remittance 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.

2. This Master Circular consolidates the existing instructions on the subject of "Remittance 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.

3. 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 This circular will stand withdrawn on July 1, 2008 and be replaced by an updated Master Circular on the subject.

Yours faithfully,

(Salim Gangadharan)
Chief General Manager

 
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