Para 5.4 of AP DIR Circular 106 dated June 01, 2015 states that the applicants should have maintained the bank account with the bank for a minimum period of one year prior to the remittance for capital account transactions. Whether this restriction applies to current account transactions?

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..... l account transactions. Whether this restriction applies to current account transactions?
Liberalised Remittance Scheme - As on Apr 06, 2023 - FEMA - FAQ
FEMA
Ans. No. The rationale is that r .....

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..... o ensure that the "Know Your Customer" guidelines and the Anti-Money Laundering Rules in force have been complied with while allowing the current account transactions.
Manuals, Ready reck .....

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