Discontinuation of Reporting of Bank Guarantee on behalf of service importers

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..... ategory-I) banks is invited to para no. 5 of the Master Direction No.8 dated January 01, 2016 on Other Remittance Facilities in terms of which, AD Category-I banks were permitted to issue guarantees in favour of a non-resident service provider on behalf of their resident customers importing services, subject to the conditions laid therein. AD Category-I banks were also advised vide para no.1, .....

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..... een issued under Section 10 (4) and 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, (Shekhar Bhatnagar) Chief General Manager-in- charge - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementin .....

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