Dollar funds. The instructions contained in this circular may also be brought to the attention of the card issuing companies who may also be advised to remain alert against permitting payments for such unauthorized transactions. Madam/ Sir, Overseas forex trading through electronic / internet trading portals. Overseas Direct Investments, may 07, 2018, purchase of Immovable Property. Aug 01, 2016, accounts in India by Non-residents, jul 05, 2016.
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Jul 04, 2014, hedging of Price Risk in Commodities. Further, AD Category-I banks were also advised to exercise due caution in respect of the accounts being opened in the name of individuals or proprietary concerns at different bank branches for collecting the margin money, investment money, etc. Jun 18, 2014, annual Return on Foreign Liabilities and Assets (FLA return) under fema 1999. Yours faithfully, (Rudra Narayan Kar chief General Manager-In-Charge). Attention of the Authorised Dealer Category - I (AD Category - I) banks is invited to and wherein AD Category I banks were advised to exercise due caution and be extra vigilant in respect of the margin payments being made by the public for online. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned. Sep 15, 2016, exchange Rate, sep 02, 2016. (DIR Series) Circular. However, it has been observed that some banking customers continue to undertake online trading in foreign exchange on portals / websites offering such schemes wherein they initially remit funds from Indian bank accounts using credit cards or other electronic channels to overseas websites / entities. If it is observed that the concerned AD category I bank has failed to carry out the measures as outlined above, Reserve Bank of India may proceed against the defaulting bank under section 11(3) of fema, 1999 and take any action as may be deemed.