Date: |
29-08-2018
|
Notification No: |
A. P. (DIR Series) Circular No. 5
|
Issuing Authority: |
RBI
|
Type: |
A.P.D.(Series) Circulars
|
File No: |
RBI/2018-19/41 |
Subject: |
Rupee Drawing Arrangement – Remittance to the Chief Minister’s Distress Relief Fund- Kerala
|
RBI/2018-19/20 A.P. (DIR Series) Circular No. 4
August 12, 2018
To
All Category – I Authorised Dealer Banks
Madam/Sir
Rupee Drawing Arrangement – Remittance to the Chief Minister’s Distress Relief Fund- Kerala
Attention of Authorized Dealer Category – I (AD Cat – I) banks is invited to para 4 of the
Master Direction No.2/2015-16 dated January 1, 2016 on Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts
of Non-resident Exchange Houses, as amended from time to time, regarding permitted transactions under the Rupee Drawing Arrangements.
2. In the wake of the floods in the State of Kerala and the representations received from the AD Cat - I banks, seeking
permission to receive funds in the Chief Minister’s Distress Relief Fund - Kerala through the exchange houses, it has
been decided in consultation with the Government of India, to permit receipt of remittances to the Chief Minister’s
Distress Relief Fund - Kerala through exchange houses, subject to the condition that the remittances are directly credited
to the fund by the banks and the banks maintain full details of the remitters.
3. Master Direction No.2/2015-16 dated January 1, 2016 on Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts
of Non-resident Exchange Houses is being updated to reflect the above changes.
4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign
Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Ajay Kumar Misra)
Chief General Manager-in-Charge
|
|