RBI/2014-2015/8
Master Circular No. 8 /2014-15
July 01, 2014
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 the Appendix.
3. This Master Circular is being updated from time to time as and when the fresh instructions are issued. The date up to which the Master Circular has been updated is suitably indicated.
4. This Master Circular may be referred to for general guidance. The Authorised Persons and the Authorised Dealer Category I banks may refer to respective circulars/ notifications for detailed information, if so needed.
Yours faithfully
(C D Srinivasan)
Chief General Manager
Circular on Remittance Facilities for Non residents Indians , Foreign nationals and PIO’s
