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IMPORT FROM SYRIA, FEMA - Foreign Exchange Management

Issue Id: - 118232
Dated: 14-11-2022
By:- RAMESH LALCHAND
IMPORT FROM SYRIA

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Dear Sirs

I want to import ROCK PHOSPHATE from Syria but my bank tells me they will not make payment to Syria or any other country or currency if origin of goods is Syria because Syria is under sanctions by RBI . I dont think this is true but if there is any circular or notification by RBI please let me know of it

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1 Dated: 15-11-2022
By:- KASTURI SETHI

It is true.It is a matter of our India's foreign policy. RBI has objection.There may be internal correspondence between banks and RBI. Internal letters are not public documents.


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