Reserve Financial Institution Of India – Grasp Circulars
The place particular rules don’t exist, Advert Class – I banks could also be governed by regular commerce practices. Import of overseas forex, together with cheques, is governed by clause (g) of sub-part (3) of Part 6 of the Overseas Trade Administration Act, 1999, and the Overseas Change Administration (Export and Import of Forex) Laws 2000, made by Reserve Financial institution vide Notification No.FEMA 6/2000-RB dated Might 3, 2000, as amended every