Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals - FEMA - 04/2008-09

Master Circular on Remittance Facilities for Non-Resident Indians / Persons of Indian Origin / Foreign Nationals RBI/2008-2009/17 Master Circular No. 04/2008-09 July 1, 2008 To, All Authorised Dealer Category - I banks and Authorised banks 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 This circular will stand withdrawn on July 1, 2009 and be replaced by an updated Master Circular on the subject. Yours faithfully, (Salim Gangadharan)Chief General Manager-in-Charge For master circular click here