Reserve Bank Of India
A. P. (DIR Series) Circular No. 81
January 24, 2013
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign
Currency Vostro Accounts of Non-resident Exchange Houses
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited
to Part (B) of Annex-I to the
A.P. (DIR Series) Circular No. 28 [A. P. (FL/RL
Series) Circular No. 02] dated February 6, 2008 on the captioned subject, as
amended from time to time.
- Items No. 7 and 8 under Part (B) Permitted Transactions of Annex-I to the
above mentioned circular have been modified and the said modified items may be
read as under:
- Payments to medical institutions and hospitals in India, for medical treatment
of NRIs / their dependents and nationals of Gulf Countries, Hong Kong, Singapore
and Malaysia.
- Payments to hotels by nationals of Gulf Countries, Hong Kong, Singapore and
Malaysia / NRIs for their stay.
- All other instructions issued vide A.P. (DIR Series) Circular No. 28 [A. P.
(FL/RL Series) Circular No. 02] dated February 6, 2008, as amended from time to
time will remain unchanged.
- AD Category - I banks may bring the contents of this circular to the notice
of their constituents concerned.
- 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,
(Rudra Narayan Kar)
Chief General Manager
RBI/2012-13/394