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Opening of foreign currency accounts in India by ship-manning / crew-management agencies

FEMA - 15 - Dated:- 24-9-2015 - RBI/2015-16/184 A.P. (DIR Series) Circular No.15 September 24, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Attention of Authorised Dealer Category-I (AD Category - I) banks is invited to Regulation 6 .....

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il 30, 2007, in terms of which general permission is available to ship-manning / crew managing agencies that are rendering services to shipping/airline companies incorporated outside India, to open, hold and maintain non-interest bearing foreign curr .....

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th AD Category-I banks by foreign shipping or airline companies or their agents in India are reproduced below: a. Credits to such foreign currency accounts would be only by way of freight or passage fare collections in India or inward remittances thr .....

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