CONTENTS
% ' ! 0
ACRONYMS USED IN FEMA & FDI
I-9
CHAPTER 1 FEMA - OVERVIEW
1
CHAPTER 2 AUTHORISED PERSON UNDER FEMA
8
CHAPTER 3 ACCOUNTS IN INDIA BY PERSON RESIDENT OUT OF INDIA
16
CHAPTER 4 ACCOUNTS OF INDIAN RESIDENTS IN FOREIGN CURRENCY
29
CHAPTER 5 RECEIPT AND PAYMENT IN FOREIGN EXCHANGE
40
CHAPTER 6 REALISATION, REPATRIATION AND SURRENDER OF FOREIGN EXCHANGE
45
CHAPTER 7 MONEY CHANGING ACTIVITIES
48
CHAPTER 8 MONEY TRANSFER SERVICE SCHEME (MTSS)
60
CHAPTER 9 POSSESSION AND RETENTION OF FOREIGN CURRENCY
66
CHAPTER 10 EXPORT AND IMPORT OF CURRENCY OR CURRENCY NOTES
67
CHAPTER 11 REMITTANCES ON CURRENT ACCOUNT I-5
71
3 4 . % 4 . / #
I-6 % ' ! 0
CHAPTER 12 LIBERALISED REMITTANCE SCHEME (LRS)
86
CHAPTER 13 EXPORT OF GOODS AND SERVICES
94
CHAPTER 14 IMPORT OF GOODS AND SERVICES
133
CHAPTER 15 PROJECT EXPORTS AND SERVICE EXPORTS
155
CHAPTER 16 FOREIGN EXCHANGE RATES
157
CHAPTER 17 OVERVIEW OF CAPITAL ACCOUNT TRANSACTIONS
164
CHAPTER 18 FOREIGN INVESTMENT IN INDIA
169
CHAPTER 19 FDI IN INDIAN COMPANY
178
CHAPTER 20 SECTOR WISE FDI POLICY AT A GLANCE
199
CHAPTER 21 FDI - DOWNSTREAM INVESTMENT I.E. INDIRECT INVESTMENT
208
CHAPTER 22 FDI THROUGH RIGHTS, BONUS, SWEAT EQUITY OR MERGER/ AMALGAMATION
215
CHAPTER 23 FDI - TRANSFER OF SECURITIES
221
CHAPTER 24 FDI IN LLP
236
CHAPTER 25 FDI IN GDR/ADR
239
CHAPTER 26 INVESTMENT BY NRI OR OCI
245
3 4 . % 4 . / #
I-7
% ' ! 0
CHAPTER 27 FDI IN STARTUP COMPANY
259
CHAPTER 28 INVESTMENT BY FOREIGN PORTFOLIO INVESTOR
262
CHAPTER 29 FDI IN INVESTMENT VEHICLE
269
CHAPTER 30 FDI BY FVCI
272
CHAPTER 31 FDI - INVESTMENT IN SECURITIES BY FUNDS, FOREIGN CENTRAL BANK ETC.
275
CHAPTER 32 INVESTMENT BY INDIAN ENTITY IN JV/WOS ABROAD
277
CHAPTER 33 GUARANTEES
306
CHAPTER 34 INSURANCE
311
CHAPTER 35 BORROWING AND LENDING IN FOREIGN CURRENCY
319
CHAPTER 36 BORROWING AND LENDING IN INDIAN RUPEES
324
CHAPTER 37 FOREIGN INVESTMENT IN DEBT INSTRUMENTS
331
CHAPTER 38 EXTERNAL COMMERCIAL BORROWINGS
342
CHAPTER 39 TRADE CREDIT (TC) AND STRUCTURED OBLIGATIONS
358
CHAPTER 40 ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA
365
3 4 . % 4 . / #
I-8 % ' ! 0
CHAPTER 41 ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY OUT OF INDIA
371
CHAPTER 42 REMITTANCE OF ASSETS
373
CHAPTER 43 BRANCH/LO/PROJECT OFFICE IN INDIA BY FOREIGN ENTITIES
377
CHAPTER 44 INDIAN DEPOSITORY RECEIPTS
393
CHAPTER 45 RISK MANAGEMENT AND INTER-BANK DEALINGS
400
CHAPTER 46 VOSTRO ACCOUNT OF NON-RESIDENT EXCHANGE HOUSES
403
CHAPTER 47 INDUSTRIAL POLICY OF GOVERNMENT OF INDIA
406
CHAPTER 48 ENFORCEMENT OF FEMA
412
CHAPTER 49 PENALTIES UNDER FEMA
415
CHAPTER 50 APPEALS UNDER FEMA
421
CHAPTER 51 COMPOUNDING OF CONTRAVENTIONS UNDER FEMA
425
CHAPTER 52 PREVENTION OF MONEY LAUNDERING ACT
437
CHAPTER 53 FOREIGN CONTRIBUTION (REGULATION) ACT (FCRA)
470
CHAPTER 54 COFEPOSA, 1974 SUBJECT INDEX
496 511
12
LIBERALISED REMITTANCE SCHEME (LRS)
D S S % EE N O S I I R I L E T A A 3 R L E U O 2 B) G I .E , $ 2 2 A0 R I O 3 D S N!' E ) L ) F"NU O O 2 2 I T S A Y E N V CA l R F I E T O S O T E R R .A E )P G OT N 'O A HN H T S I C I XNWE EODM E NDAH GEEC C I R E U S R S OD H I O F T R FT O N L Y NI G N OSYI A R I T T WAS I U S E O RR P3BT E 2 E E,& N L ) B D AEE T MT R A OED F H MC O3 H CEO C FC R O N.A R AA WT L T EI D U I M E CT V R EI A N2 #D )
12.1 Background
vide
RN E DO O U I V S S S I N I D O S NT I I I H C TA T N N ES O N DA S I DN S R EO E T R I TTT ENAC T UDU A O T R T I C L S C N I C A I AL D F A E T OT I T A P D EA I R L C O UR O SO .S A N ETNO OC MNI E S T NRC N R I OU E A I R T T CI A N ZD$O I E R L C T A E T T R I 3 S E MA 2 BR I , L E- AP$E SR% A O M DF$E ED H CA)C UO"3 E DR2C N OBH RAT T A S T N DOT I SNBI A UFM FOE WT 2 N EI O D I MMT E S EEA I R L HO N A I CT R B S E ESMB L I HA O, 4UC @ -
D E T A D O . N O I T C E R I $ R E T S A $ % & ) " 2 N I D N U O F E B N A C S N O I G T N C I UT RR T O S P NE I 2 G@ NN I T O R O P E 2
T SN I H E 4R R U R A # E YL% A I & C NF AO N l R E PM E T I ) ) ) E U L $D 3E H 5C S3 I TR I ME H IT L LO L A S R A E L VL OE EWS HSE 4AL SU L 2 A U S DN I V O I I D T C NA I S ON T A SR E 4 I L P T PN AU O TC I MC I! L Limit of USD 2,50,000 per financial year for current account transactions for individuals and others ix S N O I T C A S N A R T T N U O C C A T N E R R U C L L A O T S E I L P P A 3 2 , Y L T C E R I D N I S U H 4
F O S L I A T E D S E V I G D E T A D O . N O I T C E R I $ RS E W T S O A L L -F O $S %A $E M )E "H 2C FS O 3 !2 A, R E A H 0T
12.2 Liberalised Remittance Scheme (LRS) of USD 2,50,000 for resident individuals
FC WI LO T OR E N L P L OS A !I T T S YR AU L ANR E I EEB R 9M4 F & LO YA C5 AI MCA( N RS AO SN M R INR E & L Ol A I ERT P E C I $P AH S D SR E NE A S N R I T T R R TA O N H U P T U OS $ CE !3 CT A E5AR L MOT O A P ETI R H P CPAO 3UCC SRO EL OT CAT E NUN L D B AI EA T R V T L R I I I A U MDC V N EI A DT 2T NEO T DE T N I ED S MI S I I SR L E A EE R R PM E YYE BB I NH , SAC E R3 EC OE HN F H T AH4 RT T E CH I R DM T A NE O -B 5R
O R C I M D N A N F OO R E C A W M I T G M N$L I I L T I 3N A V5E S EFE R L PORA T P I HM U D T D I INI WL V 3AD I T2 N EN E,MI T I T S HT I N T S E NIOD OWTI CDES E M EI ST R E R GRTE AA P M T T S O S R EF RA NM I E D DY E EHEL S S C I A I V I S V C EN EER R H A N4NN E E E l ES R BNBE SOSP I A T A I H HD T TNI I OM MC I IC L L 3I3 2M2$ ,O,3 ENE5 O HS HC 4I 4E
86
3 , ! 5 $ ) 6 ) $ . ) 4 . % $ ) 3 % 2 2 / & $ 3 5 & / 3 2 ,
SR L A E T UN DU I V O I C D NE I B TT N ES DU I M S E R L! L A M OR T O E& L B E AH L I T A VR AO N SI I EM M EA HG N CI 3E N EBA HRI D 4E T R T A I U MG EL R A FR O U T EA S N A CS NR ) O I N S R OM NE I H MT GY NB I D D E UN L C G NS I I
TY SF E DKR ENE IC MMT N A GE N EET I TR B T HMM O R CYR R AA NU 3I LEGPNC EM P N OAN I HA CCG TN T T I N RFOES E N L P E R E R A O S E DU O D I F NI ND S GA S UI WS E N V R SI I HORE B E D COAT T CNBU C A R NI USE L E AOC E T TLSHHH T N T T T I ROTRT C ME U I O E F T O V EJ N & C T 2BEA E I U Y R S D T SWN A E R SO A Y R E ( R R EP C E T T HO E BS T H MNNFRT P I O U R EI TOYT O I MD T N C CREF E YNA Y L PMC OLO I TN MCA S R T E ADI PER F V P F R3 FNAO NU A I O CE C2 TSRS T N, C EMOANGR PRFHUIE SESCOED T R R R C E ON SEUC R F T P B U A NI K ND I HMT I DT ENNTA I EW ANO MEB T R M EB A DGYTSDA L I S I N A I S L I D MEER E O Y V S L SL AI E NR NP RH F E OMR VET T H CO O E N T EC HN O U U E T BS HNO OT O A NR C C AEYCFOC A CBBAOT RE R EO S I D WSN N RI U E G HR D T A E O W EMO R RL L A OA HF CET I O CN H N WA E ST NTR OIA M I Y T E T C R R AF A S P NOR AEE R T R T N U RT U E A O HN C T O ES LH A L TE ! S NR I E EV S O O HS T E G DN NA AH !C X -E %S &A E RS E R DE NV UO EO L T B I SE S L L S M A I MCE RNH E IC PG 3 R TA E O H NMT E UR NA E S A 3 2 , D RE E T DA ND U L A U D I V I D N I O N A. N YO BT I C SE NR OI I $ T C R AE S T NS AA R T T$ N U% O C$ C) A" L2 A F T O I P A C! EA L R B A I P S S NS I MIW RDO E E L T PA L O ERF HES 4MA
E DNNNR OI OIU NI RT AT T ION DAS ECIDE U l T E6 I S QR L I CE A L S HUADD T QR NN O EU O R BFT FOC S& O NEEL ORCA U SI I E T TIV $ I R U R S S A FE-E I HU S O T SQ FO LO TA N GCS NAONSY T O I PI R I D S N O S L E T S S O U N HE S HE T I F N DM OIM G R T NUI NP O N AR R TDSEP L NS DMS O ON R T H I I E S A T I I E T R T W S I B VR I OO U EF NU QD TIC C YY E N N R N AO OS AA I T DYPPT A M AB ON MRE RAOOED BPCCND AMSNUT E A GMA SOE C I T ER S E N R R R ESE SN MAVO U E F R OA S TR OS S T D N E E FCN VVAO E U R NOFSI & I GDOE$A L R E S F NT A E T O I S H I R K I P S UA L A AN E# HFI MU SOL iii
M O R F T C E F F E H T I W S E R U T N S ES 6E N TI N S I U O *B D N A S E I R A I R D O I F S BA I UD 3N D) EE NI D WS T /U YO L L O H 7 P U T GS NU I G T T U E ! S
S ) 2 . S N A I D N ) T N E D I S E R N O . O T ST E EC P! US E 2I NN A AP I D NM ) O N# I S N NI AD OE L N Gl NE I D D US L A C NS I E S V NT I AA OE L L GR NE I R D NA EO T H X EW
v
D A O R B A Y T R E P O R P F O E S A H C R U P
ii
bona fide
iv
K N A B A H T I W D A O R B A T N U O C C A Y C N E R R U C N G I E R O F F O G N I N E P O
i
-
Scheme available to minors also
-
Consolidation of remittance of family members
Para 12.2 87
Transactions not permissible under LRS
12.2-1 Capital Account transactions permissible under LRS
-
DLN A L O T U I I T OP C HAE SCR I SE$ KT NA R T AL E I T "I S C AA F O$ T S% L $ A U) D" I 2 V I D F NO I T N E! DA I S R E A R 0 O T E SM E I E T I H L I C C A3 F E TH I T D ER R E C D N FU O SD DE NC E I T K NA AD YT T NI AM DE NR ET T N X U EO TCO O C NA.
Banks should not finance to facilitate capital account remittances
LO T NS I ET I IRL E OV S EB S L E A A O T L L I A C A EV V IFA MR O EP H ED CZ C A NO 3I V A R E N B HSE A T N T S RONE I I E T A I DC D NAMU US S T N N AO 9R D I T &TA A O TR R RNG B A UI E MA O 9C T EN C LA A TE I TNM C T NNEA AEME R NR Y R I O T UL & L C P A RR MI C E PO D E FNE SO M E C NDI P AAR O T T T R I B S S $MA E 3EGN 5RN I S SIU FE O O GB TM D I U N MS OA I IBT O L R U A 3S B N A 2 O S S ,E DE ED I V T U F HL T I 4C G A
12.2-2 LRS for current account transactions
-
-
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
TGR N E NT EI S MDA EEE GC AX $ NE AE% -G$ EN) GA" NH2 ACF HXO CE XN! G %I EA NR R GO I FA E F0 R OO) &E" S2 OA T EE )L ) EH ) 2T E L U M D O R E F H N C O 3SI E S L FU S O I 2M R ASE D R NPE A O T 0T I RA OD RC I E AR DS P NNS AE UR R S4 I L U A TQ UN E DUR I O V C O I C D N! . I N T TN O N I E T ER C DR E I U$R S E #3I R 5$ S W O L L O F S A E R A S N O I T C A S N A R T T N U O C C A T N E R R U C F O E P Y T H C A E F O T C E P S E R N I S N O I S I V O R 0
Y E V N$I A3T 5 C NFE AO P T S T U E N R HU R "O I D R NMA AAE LEY A T L A A PG I EE C .R N GA OG N T NAl ANE HA N T OO RT E YR HPNA T UAE O NY DEI E AG H ON#T RA-G BH& C N AX I &R SE T RU I N OD S I G R V I N E E ER E L T K OAA A E VF$ T I N R R I E DD PA EN RTS OBI &ORU S NOT AHS I CTI U L! V A F U O N DAR I V E MB I D O NF RM I U T N N E E D H I T S F E O R
T R NN O E A T HC E A D I WSRS A O E E T S DR R A R AE E E OV H P RO OT L M D I R A NUO R R OF FAT O A Y EC I TD HN S ON4E R C)T EIR GD U M NS I IC I D TL N U 3G UO L 2E I C ,R NC I TEO SEH F E STN S NTRI EEER PKDO C N S XI T UE E E S DP DE EU ES T SMR A A L UN E P SI A R B L RI D UN UA O2S) E T N LOBI L R L R ! L U E A %H H T FS I O SE TS E T S N ON U CE O P N XM OE A I T GS A I N T H I R R OGTL E T PDC L SOE E NL V LA L AE L OR R T TCT
TN I O MI T EA R N YO AD MS LA A R UO DA I I V D I N D N) I E TI D N S ET DU I O S E G R N YD I NI !S E R N O S R E P A O T T F I G A SI A D N 9) &E ED NS I OT NU I O N O I T A Z I N $A G 3R 5O ON T A PO UT W A AI R D DN N) AN CI R TE N L EA ME Y$ OD L P E S MR I EO RH OT F U D! A OY RN BA AM GO NF R I O G9 & NR OE SP R E P ! $ 3 5 O T P U E G N A H C X E N G I E R O F
$FE ED S !ODNMN I Y S EOL A R T PC MT U ON XES RUOEBD L F N OEA OO ECGT T N B N GEA ST EI NH T HD N AT H CIDE CYXCEM XBENRN EDNICR G R G EI NO E NB I E V GR I T SO R I E T O E C G E N F R S I N OE FMO I F R O SPS T WPTDGN N T R AN NE UA R I U W O DO N M ORS T N MT A AMAY EE CAYL V ENNRN O EH I T TAOFS A F D T A R OO EOE G T EWNR S I P C MU ODE NL E) V L N AA T AO O)I F T YTE O R MBN GO OY I EYT NG I A A 2 A T E T N MRW G AA C YT TI I W# E MMB N N$ I M E O! LIOS S I I S T I F D R R A H O N P E R R PA$T I G Y F 3 E R T !K5OT MN N S ARSNME BOEUI L O C A NX RI )O CO C EEF YI R R T NHEE OA L M GRITB A G NI EI I M I T G D MN A I O SE L #E) C E
$N O 3I T 5C E O3 T N PI UD TE I N Ml EE R D NS AA C E LV A I UT DL A I E V I R @ D ; NS I E TV N I T EA DL I E S R E E R S !O LD C A FO O R EB CA N= A N E T N I T A C M! SS DI E RN A A WP OM T 9O &# RE E H PT F O
R SE EL NR AA AB UM F D O CIU GTVN NEIE D I GN D H NI NI T TF EI N N T O E T A A D E R I T V S HE I E T T CR I C E WI T P S N E S NE I E R R OP T R I T R PNI C EAU9 N O& NGCA N N OI G CN N I I I E A NR R I O STF L D O A ET US S I DL P I AI V I R$ I C T D ES 3 NP S5R I SE Y NOA BRITE A S PY SNUU E T IIB T H M E S R I G E O G 6S &NN AR I ES H CT CU NIX S D I EV EN R E NE SG F S K N I E A ONET R I CS R OE LU F A D NBFN OSOU L I A I T S A A D T VS I NEA T RA I E NV E T AF R N CO T I
GR3 NE 2 I T, E T A BL EE SEDH I I S T EHT ETU G YYON I OBS Y L E F N P N I OR MR I E T EOC V NBAO S E AR NT T FAAC ) RE ST E TJ S NNB EUU POS XCI T ECM EAI HTL N T EY DR N NRA U AC T U EL VA O OUH T BDI IW AS EE HR$ T S FA! O E DH ET YT NA AE Y RRB OT N D F EE O I YBT T T LT IC I L T A A M N S HR ES N A NSER AEPT S E YN BE BE H YT PA DX F EE MO T U HD PC EU N DS A
S OER T T E A PM L A UI E ET GS$ NED AYE HNI S CAR XNO EO H T NGU GN I ! I E T R S T OI I S F M N EI I S TL A E EUV O L E HO R T B YIA AWE M9H T S&G R R E E N L I PD A ETE $NE E C L DA X EV E S IT I U R N OQU HEO T S T U M I !R A OR O & R O T C O $D 3L 5A T FI O P S TO N UH OA M AM O NR AF
Medical treatment abroad
bona
fides
-
Tour related expenses
88 Para 12.2
Private visits abroad -
Gift/donation to person resident out of India -
Going abroad on employment -
Emigration
-
Maintenance of close relatives abroad
Business trips abroad -
LRS not permissible if employee deputed out of India
3 , ! 5 $ ) 6 ) $ . ) 4 . % $ ) 3 % 2 2 / & $ 3 5 & / 3 2 ,
T RN RE ME TL OF E A RA EM F T EK$A T CDE A I R MSET S L INI T R A EO S C L E L I H A D T EF E U HS T M ! NANR OHA O DO F EHYA S WBI A ED BNG N ON) NS AO F OR H I E S CK S PX I N M EA ! R N" E G D E I PA E V LO R R A RO E R BF S E NADE E2 ERS GO E A T H RC ET E L DOE F NDRO L U EA L A BV ET GI OO NPSR ASLP HOAP CHYA XRAR EOMO I NADR IAP GD I E NOG R R N O)B I F N KI A EIAED G E S RN S N A OI ) ET DTE L C U E OEOD R E I HS CT YDO T IU AER WO HP MT
L DA EC I WD OE L L M A SR I O RF A ED YA O LR A I B C NA AG NN I lO RG E T PN E T I A P A O $T 3T 5N A OD T N PE UT T TA N US OA G MN AI Y NN AA EP VM OO P BC U AC EAK HRC T E OH OF T C NNT OON S I R E T I E M D DPA T AAE NT OT R ) )T FN SIYO TR O YI S O I R OREGKT U GOYENT A T I E N T A "S T A A#EN # N$VI $ O RE G!EH ! N T S DE D I $T N2 M E A 3I S T OA 5S ER NKHF D N OI T D T TAFE PUBO V I UO)LE HYA ET C RVE GI NWOOR G R A E E PT HDT CAAPAO XO#A . M R R EB I OT N NA$I S O GS!REI P I T E EC E RGH I R E E D OU VNTR F EI I N T K ES WE O$ S R E O R A DE O SE ( EF T L TS S E U SY AA R L O B T YAI H S AUR T $ I D E MI W % V V I I $ )D N S ) ) N5E YI C " R NN TG ON $2 A3 GE IT F E ED T I5O T R I A OM S G F #E E ! N ER I $RH A D O R WE T !T A OE0 DTML NN LC AEOAXD E R L SAFY A A KVEAI O NITMD U R AQA)N B BEM) )A S E S O P R U P G N I W O L L O F R O F D E S U E B N A C 3 2 , E V O B A S A S E S N E P X E L A N O S R E P S E D I S E "
R EE RH UT T S PS A RA O H F $ C DU % ES $ S S) UW " EA 2 BL F NEO AL CB A C! EL I A MP EPR HAA C 0 R 3E A I EHD T HO N T ) FF RO E O S DN T N NO E UI SS IM E V N COR NRE V APO T E T I H' MT E EOH T 2TF D TOE C T E A Y J CD B I UL SO 0 TE R A D A FR O S4 T N C GO EI J E. B ORN O O G&I TC T NN I S E AR A T I HX CE$
R ET OEL I M B F M I S DAS E ENI R S N UWME H R T E EOP FO B S O NLE . AAHNN CUTOO I D H T I A G EV I T R U I MD C A OL E EN RC R HI I CTHE$ 3NTDR G E F N L E ED I E T I HS T S S T 4E TA U S R NEPI S HD A$ T G% NA NE I TD$ RN E I ) H A" O E T R2 HB I F E MAO $O T I $H S AWI! V A F E H R O T T A A 0 MIV RWI OYRD P R F E A F EI B O HC I T R lEC NEMS I NIE E T CE R NBEP H F T AO T A T T ETM I A R MMSO EANF R OE NI DEC T H RH T A A T D N S WNN E I TI T RA AE U RR OOT TD
SAECA L I R VA A D R UN SA E N0 D) S I EEA V D2RE I T I D S LM EL NT E ) UHAH OTHC KFG3 NOU ALOS I A R H BV HT AOT R HRGE P T ND I PI WA TN S TU R T OUE P N L I D B UR R I E OPO G T CTF I A LD CU DE AO ES YHS E CT NIUC EWEN A R T EBT R UMYI CEAM NHME GCSRO I 3TM. E N R OEUON H F ORI O DTCFT G R L C C O N E A E I HDY R S I I DNC R $ NUN A R ASE E RRT E NC O R I S A H A NUT T ACI N T I N W T A I GD$ I MME % E$ ER T NR OC E F ) PG E" ONEN2 I N H OK OF SA4C O L MK A S NN NRA O AO "I CF T!
T I M E R ET KC A! E MN D E NOT A:A CCD I SM L A UOO N DO . I C V R I %A D L LU NA I IC TC R N EI EP# D3S I E S E E I HR T 2R E E3 D2 N) U$ A I 0 D N! ) ) N" I P2 U TE E M S I ST #O 3T &E ) M OI T T 3M 2O ,R RF E D DE ND UN SE E M CA NS AA T
D E T I B I H O R P E R A S N O I T C A S N A R T G N I W O L L O &
TRN T O OE N)R SL ER I U EU# MD EET HHN CCE 33M R EE E HD G 4NA UN DA ET I E B G I N H OA RH PC X Y% L L A N CG lI I E C ER PO S& F EO S O) P) RE UL PU YD NE AH RC O3 F R E SD E C NN AU T D T E I T MC I ER R T S RE OR F EM L B E T AI L I Y A VN AA
Purposes prohibited under Current Account transaction rules
-
Investment by resident Individuals in IFSC
-
Purchase of objects or art
Para 12.2 89
Facilities available to students for pursuing their studies abroad -
-
12.2-3 Other remittance and expenses permissible under LRS
Remittances by DD for permissible transactions
-
Opening and maintaining foreign currency account for LRS expenses
-
12.2-4 Prohibited transactions under LRS
T RET YGO EL OC N T I F N R I S C T OB EI E& T O L R EI S B ML D KWN AS L MA I S & I A A OI R V44O S C D AN!Y KE FN T LO TO&T AA O I N C T K BD NC ES OR E I S!EI R I H D L L T T EA B S N IA E O MC A L T C ENI CK HAANl A N CNVT I A N T 3IAI G"O E&SMI HYAESE. S V 4BE 2GR N N I DR I E O K EO S I NSE T lI O T C I AP 2E T R" N R R EEESEI VAH$ DTR I D DTR Y E E SN E S BT E l AE I I S YA R T S2N L T E N E EE I T UR HD A T T I ON R $ YSA CU % P$ O BEE O I D T T CE S) I T SEl D" N E I EE2 CVT I S O NT I F AANDV O N R T D SA T E A A I SS MPRL A! EOOA G O R UMA R TCO D R SA I N I V UNlI R O0 OOAD CNGNRD R CSFI E T E AAA ET T L F I SFT A O & O T 4WHSM I P R TE !WTC A& OAP WT C RD EE EK E R ADT E NA HMUD T O E LT L G A GN NA HI D H CK E I EC T H EX A WS D E LN HA GUGO UDI. OIE RVRN O I O HD F I T T NFC I O $T E R !N EI O NES$. ADA N I H R S CEO FE T I O RRS T C HEUAE CHP-R N4R I O A F $$ R E R BD %E T AA!$S )A EMM" T E A BR2 O NL N$ GI L&I I % S WH $ X E E) D SN E I N " OMR N2 T E U A EHF F S VCDA O A3L HEU N L OE! H L V H T I I W SG R A E E R LD A C A UNN!0 DUA M T I ST V = R I E I O CMF D NNE; I AR ET 3 T E 2 HI H, 4MT
T N U O C C ! T N E N A M R E 0 R E H S I H EE DM I E V OH RC P3 OE T H LT A R UE DD I N V I U D E NC I N TA N T ET DI I M S E E R R E EK HA T RM O F O YT R O. T ! A 0 D NR AE MB M SU I T. ) FEEE- RSO E DCH DETA NT% NRU E &! H A UEOMRT RR I H SEW E ST F DA A DT E D0 EH YN R NN T L A OPP UE UD R FS E H M SE E L DEN W E B D O R EP I NN ELT CL T I RO T I TGAE EE U T M!ED VE DM I INV MV A ES U R O O T I GS A SN CDCAT A ENNYHN L L I HMI L I E A RTR OS TO N M O H HE ES ST L S D WV S S U TE DI N RNNSPIVO OIUE MNI M R E I D T T I L HF O A E S A L T E T E C3SU A V HR 2AG N E S E D T NO ,R S E E VR ) EE EE 2 DT EAWAHV H I T OY NR OS T N RT I ( E Y I A A R T H HU EP I T T EEU I C ER Y MQW E MOE E B3 O OT HEAD . N I C C H E D D G NE T 3 I BE NI N I N) O IEI ER ERRT I C H U O HQ TD S T T N &C I E R EE E ET TR S R YR S PN I DMU E VTNT SA$ NO SONFR U N E I E V3OOT E O SEN I ES T I R UA LDI7IS A D T NA N C I SUME 6O I A D T SI R$ R*C I E T V DADO% R N I NDESFNR$ E ANMAOAF) I E S S CT TS SN " E S R R M 3N E A 2 E A R EVV R4 2D F HE NOS ,I O T I
DES NCU N AA O E NT T N I IA A ML T L E E EC R S N2I ADCE@ S RI N OL A O T R S E E B VI N, I NE !H T R E D NO U. EN DO AT I MC E SR T I N $ ER ME TS T S E VA NI N$ O% D& E) N" R2 A EF EO M O CA NR I EA H0 T TE S M E VE NH I C E 3 R
SEE A H HT ET S O FT R O E V C T / E O J ) B. 2 UN .NSO I T ORC E I NTFE C S AE R N I I 3A D $ R NNT R ) E T TICS I D N N A EEO DNR I T l S EC$ E E DL % R E $ NS ) OAE . U" EQ2 AI VE F THO OA T LC DED R E A N@ S R E;S A L E P OVON R I T C T I A F DL D O EE E T R l YI T I EAC MS E OWP RL E YS PCB S S)=A I # L/ S N A O U I DATI T I I D V C D I N N!O D N)SC I EG F I TO D N NE N ENAIT DEPWA I Z MOD S I L T L E O I O 2# #F
R A E Y E N O S I N A O L E H T F O Y T I R U T A M M U M I N I M E H T D N A T S E R E T N I F O E E R F S I N A O L E H T
TEE EN RH 2EU T DSL DS I NL EE EA S ROD I L TN A A R LA RA E T BOUI F I DM , I E I V L ELI B D3 HA T L N2 I I RA E T, DVNE NAEH URDT A I TESN I E YR I ML H T IA EI L LIHW C T L NF A S R AO I E VNYM OlI TI RI LH EE BY HP I T SB N N D I OE H P T T S I N E W R A R E EG B$H N D3TA L 5EO U L OFBF DO HOL SEU T TM ON N UEWU OH O T ) M MC A A3L A E UE NC AN H D I T OA V L T T I T A EI D HM H NT T I
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ii
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
E M I T O T E M I T M O R F D E DD NE ET MA AD S A Y AO -. N DO I ET T C A E DR I $ R E T S SA E L U 2$ N% O$ I ) T " C A2 S NF AO R 4 T! N UA OR CA C0 !
i
-
Funds can be retained and invest abroad
90 Para 12.4
Capital account remittances to FATF countries
12.3 Documentation by the remitter for availment of LRS
-
Investor can retain and reinvest income under LRS -
b
12.4 Facility to grant loan in rupees to NRI/OCI close relative under the Scheme
3 . / 3 2 % 0 $ % 3 ) 2 / ( 4 5 ! / 4 3 . / ) 4 # 5 2 4 3 . ) , ! . / ) 4 ! 2 % 0 /
N3 I 2 R, A ER YE LD A N I U C ND AE NB lR I C NS EE VR I G P T AI GM NL I I R E UH DT LD A E UD DE I E V C I D X NE I T TO N EN E DV I S A E H R R EE HH T T YE BG O ET DN AA MO L SE E CH NT AG T N T I I D MU EC L R R O S T N E M E R I U Q E R L A N O S R E P S R E W O R R O B E HA T I D GN N) I T N E I ES ME S RO OP F R DU EP Z I S L S IE T U N I ES BU LB L A HN SW NO AI S OH L ER O HF T
NARN R OIOONO SD IWS = T N Y R OE C ) E NU T PEAR G FD T RDPS O I I E MNTR S T HU NB OO T O O#CER RMO IO HTH N S T PD I DSO EI WD .SLA E I E O NS VR OE NE I R I SDSS T U S E A 2 NR EI I B S O C D $ OO EU M4 SSDTC R L A E N S E T A NRT PUS S P I E F NYT LTLH I A A I G RBH EOII N T C ON CR 2 R LE FNL YEO T L M IAMN G R NTSOH E S M S S I M S E S E S O E P N S VI I RN C E T O E S I L N L V HIU E I A I T H T S V I I CBC UT E E I E N A DHH BE$ E EW4NEDL O T I Z I S B I LN TAE T I A A I S R T S T R E U E N E FF I YA LO T EI L S A L E BV P E NN IMR R A OR TT O C O;I4 A T S L NAN C E A U LE R N S L R I D H U A U T G HTETOS L T N SFI HNI U BC OD NOI Y AN HIMCA OA ORR R L RGAS4 P F ERP!F I H OS OS HF T I iv
a
c
F O T I D E R # ) #C / A ) 2/ .2 E. O HT T T FI O D CE R AC E /L B 2I G .I L EE HN T OA T S DA ED T E I T D A EE R R C T EE BB DY L A U OM HT SN TU N UO OM MA AN A NO AL OH L C EU HS T D N A A I D N ) E D I S T U O D E T T I M E R E B T O N L L A H S T N U O M A N A O L E H T
L EE I A L HB S ME T A RRFV ONOO NO T H.NM G UM U OI O/CR R CO 2 A H. S T E S 2T I E I CY.R R NA #U AN C &E T I T D S I TR MRN EO E/D R T S I E DNS R REE A DRAD E WI HT S N S E NR OEN I A F N.HR T O YF G YOC O S A.N SA WEED W R HR YT EN BO UEA ET #CO O DT NRL AI H GPC BI ME E EDELU B RAS O LY&SH L E B C H A I HR T H SO%F NL S2OW T AE .TS ON U N L NLOI F O AARA THNOG N CRRA E EGX T Y ET MN WR % YIT OE RP AKN N R O PA EOR EB DBP R -
vii
d
vi
-
v
b
iii
Para 12.5 91
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=OI T E TD H T E DR F E C O T I TD D EC V! EN I R A T SC) A E L # E I E N B/ R C AA ) D P L SMU 2A I O ./ OOH H#S E2 H. WETT H N )T UFO #F O T /OOCT I M D ) AAE 2 R E C . / H N 4 2 E AO L . B OI R T I G T E C TL F I TE N S F 3N I UE G NAON EIRCA EDTCS C! PE U I A RNNED l O E E RP AET T A EDCUE KSE2R A L T A E YE E R MV E B I UAY NT N Q A AL I A E CE D M HR R L@ C/ A T U; N L D DA TU EN I US O V E D S I I ODM D V I R A NI S C I D T F TNFEI 2 I N O G ET H DNYNC O A I E S DW.U E I S R EF S YH E !R BT O 12.4-1 Rupee Gift to NRI/OCI who is relative of remitter
DTST" ENEO2 E C N T T DNE I I A MS V T RET A I R E H PEMT SHEN T R A FEU! 9O O H &YT MTL LA RI % E L PIAT& B F IDI N S N G N O AE I O T A PT IHC T SM l EI GT I $RLI NO 3E3D H . 5T2U) L E,C FB E " O HN2 TDT I L I MU NR A IOH I L = E3 2 L W Y T L I , A TW LE ) R A E SC I L VA I H OU TNT EDNAR E N I U HV DD T IOlNT E ND MEUA I NA HDD H I T T T T I E F G WNI B% E I N G R ED I R C BS IEU S H DE E T DR L RT U 2 OAARP3 O T H R WO NI T ' M O ; TF ED I N R L U3UEE S O2N H HT M,E T AEOYD H E TT B T F D I R R E E D G E O E E EDNDC T HNOAX A 4UDME D
O . N O I T C E R I $ R E T S A $ % $ ) " 2 F O " A R A P N I D E N I A T N O C E R A S N O I T C U RD T S E T NA I ED H 4
12.5 Operational instructions to Authorised Persons
O . S N O I T A L U G E 2 T C ! E T HC T F! O T SN NE OM I S E I G V OA RN PA EHE T G YN DA UH T C S X Y% L L N U FI G E E R R A CO Y& R AE MD SN NU OD SE R E U S 0S DI S EN Z I O R I OT A HC T U l I !T
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SECED T G RN N I NEU A EA 3 Q N MH OE O UCTR I T CXNLA L OEW A R DNA HL A SC EGR I HE DNE T R OD SS EOI BFS RA I G EH R NNPC C O I S SDU S E R A E S R E S EP E PL I R K E YR DOA L H E L E M T A Z L I I U R R H O E OAT NWH NE EST AG GN U TN TOAA A S O FHH R NE T O C L0 SX L N I E E O WDI D N I ET )S V G N "R I I O ER E 2O T R EHTPO HT!HF U C N 4! SI I N H T OWC EI HT A T C S YA N S A BN T R DA ER !O lT T I T-G R N % E N VU I & R OE EC I S BC HE T DA L FD T U O N ON O HE R S R SR E HU P CCN I Y R H ON OT I WF A
No document specified by RBI
-
3 2 , % % ( # 3 % # . ! 4 4 ) % 2 $ % 3 ) , ! 2 % " ) ,
TED O HE NT U LFS S L O I I WNR E OD NI OS R I AO T VR C AEO S NRN AOI O R NT T OC I ET E HN R I T ED TV A AN HR O T TI T MNA O IC C H l YT I YN F O S A N I T F A O N S O EI YS T L A OL B APU NRG OUE SPR A EE EH L R U LTR L R I OY WF N SDA A ER NO NG OI ! I STE A MD% RT& OOE N F H N ST I I F R H O E CDSD UNN N SAO EIU EV S VL I E I V O R G OE VR H ONP T I T RS OO N T O SI WT S EN I I V EO V MR AE P HR I H T U I T I 7QW E R E RC E N DA I I L S NP OM CO YC AE R MU SS R N E E L A O ET $S E DH EC Z N I R A OR HB T R U I !E H ST E Y CB I T DT C AEC R N! PA I E MTH RBT OOF F EO I B N UO T GS NT I N NO N EI I A T MC T N UE I CS A OF MD O DNESGA EOVEN R K R S T I I E AI T N R N S OO MR O E I2 WC HT R T A ONY U T E N !N HTIA ) N ET ET " S MYEU A2 HO UBMF C EETT N R R OO ER I L U V DT I L E ET QA A I T E NC L H R SEA Ol B I M H R I T R E A C O E E ULTH MV A S T R SEN ORY$O T O R F N F O N ADSP A I E NH EE S YET I R R R NKI SN A WOA AT H O DRYTHS RELU R ODP EE CNM!HP F EUOEI H R E SCT L H LT NAOH A OWT THY SI PNE WSB EOS D D EN EI UR E TF KC T AA E E AR HNL OS T T OP N T DANEI TM C A R ET E NCT C A R A I I N S EL I U N L P O H QT P A C P EH R AMT S R I CEO N OI HCEO H SH T L T Y I WER A S EA FSOKV EO A T R AE C C T A AR SNF I E SS N ) S R DO I A T E I K N B L A T NS A UN E EH AN E OV $T "UT
F ETL LO C A UE SP HT S SN I S TE TE) R M O N S E N T R LIN I L D I E U WED Q I E )WS R E "OR L E L 2O H NT F EOH BNI T OEW H T T Y EO L R UTP DSM EEO CCC ONO A RT T PT S EIR HML E E T R A GG E NN $ I ID D RWE A OS GL L I EA R R O EH L !I T -HU %W! F &EO C ER E TL HUR B T A O A PC RS E TEL I DA HP NXT P UA STNA NFOS OOYA R I NO T S O C T W I UT A A RC DL T U N S X DAA NE I T YDME NFEH BT AO EKE WR C NR OUAO S L L NBF A F N EEOI L O I S TE T H C L EU DP 7E 2 S R I E U G R Q I N N EI R R E EDD E R N T A N U SEA R M, E EY L L A E EPN $MO I DNEE I S T EN I R OB! EE HV T H U AT !HH SI T SE L W N A I UE L Y DD L I P IM V U I D NGO C v I R O TE S N Y L T EMA I O L DT I DC I S S L A E UU F R #OE HH ORS T U T YOYG E T 9H N I L I I 4 W C W AOS O F L NTL E NA + UE Hh T OI L TC A GH CH NT AW I
T EN HU T O HC T I C WA L TA N T I UP OA CC CR AO KF S NE AC BN ET A HT T I DM EE NR I E A H T T N I O A T MR O EI VR AP HA R DE L Y U OE HN SO F SO T N D AO CI I R L E P PP AM E HU 4M I N I MS N AO I RT OC F A S KN NA AR BT
EDT OTE EU H E OT R N S T D I ET N R SY HU I A O B T C T H I D N EOTL E KYUPEL AR!PMl R MA EAEN T CHEA R OD4HT U T T L TSE GUT M K NONO U N2 I HO K R RAO ESCF S ER C BR S ARAE A E E L TA EY D HR N C/ AEH U C$TSS F U I T O L OFN DE P I )E PEC V S M AI NES R S ARDS EO NPNE HH T TEEUS FUTHFS N T ) F! ! I RO A X O KMF EA N T C4 ADN R BNE UE EA OM HNMSO E O T EC T I H) N FA T A T O T S R T GS RE E PKNE I N D T MO D A E A OGB R L N T A I E S N A UINGHT E I T CNA B R E T F O SO WPB E EOOE B S V NEDL E I EP H S Y L AT U A SNO MOM I O HECT SE SHEN E CC TLA S B NNRYA C AEEFI I LL L S T G A I T AP I T I EA L VP I MD $S AA
DGYO L S NBL U I RA OK HEOY SETA RSNM E NU R L O O A RE CE SC ER D LL $E AAO E DPK$ H EEN S D H I A D R R EA OTBS C HOSI T T TRE U GNOH H !I T NAT C F EG U I O L! HN P 4O D PR R LA E A B EC E D SHRD DT/A I NN P UOYE F AR FN0P W O T AF T TR I A U B R OD$ E E D DU D EQN T I VE D I HAE E CCMR EAEC R H Y$G SB I YU T BO S N E R RH EC OT MN TT YAN T N AT UE PI OM MC EE CY HR AA T ESP TH A IE HTHH T EOT KT EA T R P TE U I SMBC NOEC DA ET
EDN H I N T E AR TS E A HEH I T T D I YT E F N N I E T I R A E E T L N CB O IC DG L IS U L OEN HNI O SIT ROC T E U L R R A T O E S N $Y I DBE E H Y S T L I T R H C OE T I HI R W T D U E NC !I N E A HRD O 4 R Y L O T C C C EA R I N D I EE DD AA MM E GR NA I E S BE C TN O A NT T SI I M EE CR NE AH T T T I T MA EH R T
No remittance to ineligible entities
-
Due diligence in case of new customer
-
AD Bank to follow KYC norms and Anti-Money Laundering Rules
92 Para 12.5
AD Bank can prescribe documents to be obtained by branches
AD Bank to keep records and report suspicious transactions to RBI
AD Bank to ensure compliance of income tax TDS provisions
Applicant should be customer of AD Bank for remittance of capital account transactions
Remittances should be out of own funds of applicant
) " 2 / 4 ' . ) 4 2 / 0 % 2
S DE L U C ON A HT ST KI NM AE BR E $T A !T I L I C A F O T S L A U D I V I D E NM I TE N H EC D3 I S E E H R T OR T E SD E I N T I U L I S C N AO F I TT I C D A ES R N C A FR O T DT NN I U K O YC NC AA L DA NT I EP T X A EC TR O O NF
RS EN C E E I CA L I AN R A T ETYAB $NRTO T U A D SIO O M S T EC E E S G EC I 2R R OVE O I HTNDl A E T RS R A U O I E L G F !P A F R OEE T A MB OI F I CT NO,W& OTEW4 NEHW! S T & M R E A IE T Y I &TDS B 4MNBD !OUEE RSWl &F I N YT T OEO BI S H I N T T DL S EECSE A S lHS E I I TNC R T T N EACN ETRAU T A DD YO I EA C SPH E UTME I R V YG I Y T L N T N EA G I L H UN R D T OI E N CDA P EO R S EO HO HC S O T P CE RC FA HU O N DDCPO RNNSN OAAI F R H CSB O T EE T R R I R S R I O I AO E L PTH&S T I T ER E E R EE YM T KT BE A L YD NHE AN OCH I MA 3T T SSS I R E H E C T L N A RE A E T T D$I N M UDE E S EI R DR F AOO HT MT C U S! E E P C S NEE H A4 R T T N I I E MS ER R U! EO HCM R LO 4A M& R OY NM EM HU T D ND I R 3O 2C %E 4R %N &O P NE I DE EK T D R ON PA EE R R EA P BE $ LR 3 L I WP5 ON EL SA MA H E T HYS S CAE 3ML
FA RSWO NMI AO EI E R I E D RHDIAP NFTEVIO D F T T ) N SA O A ) T I SI G T R A G S N N N P I I I LONO V L I O P G E C RP A N WEAPE H D I L P T T SYPAHE A T O C K R N NO RN AE I M A F I A S R O D T RN E R RMI NU OO F T ) I = C CSRT E S NN N N I HE GDSRT Y N GI E S UACRNN NE I R F R WNUGE T & I O L O L A E F R A C A CS R N U L E TOA OO ST PT O F T UY C ONUNE Y SEM SD R B Y I I V KM A R S S O I NEA T MGD S I ASE I I NS N V BR TR S SV I I OR T TPE NEE N I N EP GVVEG ED I D U O S M E D AFE R R I YS O S OHO S C S T E F E I I N G R T S S EI FUF LR O A OAEOERR P R H H V RRE E U T H D E O C F T BADO S B L L N EA A MGNS T G I N; OE S T I UI A NT I HNEED R I R E C E ON 34T !L I T O F P ) N O2S I G S,E N NI N HEEI D H T E ERCI I T C EENU C I N BDA GL G N N E OS E R I SE VUBOT ASSTCSR S T E A E HN P E T E R SES O M L U A KD R E N NIRSPH E S O O AE VL FC I BR O OC ST DRY S SE I D NA N E E T R O HAE E I PK T R T ROBL A LR A OSYU NAFD AG OMSN M E T I GI T UD2 A NSF O R I RG L E E P A A N PBEU GI OSDT EK NEYURN AMCMSAI I " N H S GEE A F T A O NHR B C NT I E R S M I V S A UR SNU HECENEH M V N O TTG OI T R O T R I T R A NOE A R OI CP O EFRF O ) L E& S SP $R O"FT P G N H2N AEO T IE G O GMT IGERL H A & NOC A I R I S4H H L F D T # ULOAY S A G L NN C VRNA IE O I NOF T PRC I R C E PRA M l NP GF E O GA A HRC / I O N T E I L R F S AA R OER E OI R -T S C O R F T I LN DPNSVA E NKEERR# E H E D E AE CSN I A NSSNLEI A EAA D I ' R D R I C L N F D O B N ) E NUT A I O S F ) H HAAN# I E HS l O D S T NR NEK O A) EGHN I BD NVITA SNIOEO" K) RTE NNMNODV F E R AIEGRS E BEHIE S E T S C E HR R LN E YO L T ! D2 O EBF
EESS I DRAKB R AOWN F A L ME R TB I B SBR X $ E RE CO I! L N R N S AO H A T P S E T T I I ; T N S MS H I R ,U EA S 2F R I B "O, NY 8T2 OL H A NT 5 H T ON GAED I D U T E O HT A OO4 A MMRN D RAHSM ONTI F S E E OT T E N R S I O E AEY. H3LHSR E T 2 T R E3A & H,TR L S I E 2U I EHH C N R RMC /I U I7E# FEH H H = T OCW3 S T E 3 NI D O&IR T E 2 SE EC H E R 3 / NT I R U N A U 2 QTOMG ) T EI I $ EF R MMT L E S G E I R 0 Y N N3 2I A @ ! S W KD GD) O A E N NI L S O" I L L AL L I O 2 P A BR & F )E ESUR BHNOB YITRTX U , R DS F T O O ER F E E GH 2SO I H ET V T T E F A RI N NDI A #EF D I LEG E $N N R RO H/ !UT A
TT NX R I EO ENP S E E I R H WT L I NF. OO@ I SD T S C A AEO N S L I NS P AU U R BD T L EFU HOO T E H S S HO SL S I CK N N REA UHB FT Y$ OB T ! D E D R E I S H I U S S QA I N EB R R U E F R E A B S4O K T NYS L I AA I BD A T )AA YND R OOO G3N E2 E T S A ,A #R C N $E) D !N Y A NUD N OO I G T I I T N D A I DM K R AR O OW NF )
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i.e.
Para 12.6 93
No credit facilities to applicant for capital account transactions
No remittance of capital account transactions to FATF countries
-
Reporting by AD Bank of transactions in LRS
Foreign Banks and Indian Banks should not advertise LRS scheme without approval of RBI
-
-
-
12.6 Reporting to RBI
O . N O I T C E R I $ R E T S A $ % & ) " 2 F O ) ) T R A 0 N I G NN ET I VR I O G P EE R 2 A S@ NN OO I T C U R T S N I SD L I E A T T A E DD D N A S M R O &
FEMA & FDI Ready Reckoner AUTHOR PUBLISHER DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE
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Taxmann TAXMANN July 2022 17th Edition 9789356222373 542 PAPERBACK
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Description This book provides complete and accurate information about all provisions of the Foreign Exchange Management Act, 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals. Key features of this book are as follows:
· [Topic-wise Commentary] on FEMA · [Analysis] with relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by the Reserve Bank of India
· Law Relating to the following o Prevention of Money Laundering Act o Foreign Contribution (Regulation) Act o COFEPOSA
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