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Rupee Drawing Arrangement - Increase in trade related remittance limit

FEMA - 102 - Dated:- 21-5-2015 - RBI/2014-15/603 A. P. (DIR Series) Circular No. 102 May 21, 2015 To, All Authorised Dealer Category - I Banks Madam / Sir, 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 Memorandum of Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro Accounts of Non-resident Exchange Houses and A. .....

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bed limit under RDA provided that they are satisfied with the bonafide of the transaction. Further they must take additional steps as under: AD banks must ensure the remittances received under RDA are from FATF compliant countries, KYC/AML/CFT and other due diligence concerns should be taken care of by AD banks, Individual Exchange Houses which are frequently sending large value trade related remittances must be reviewed and reported to the Reserve Bank of India, AD banks must contact their corr .....

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