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Whether the AD is required to check permissibility of remittances based on nature of transaction or allow the same based on remitters declaration?

April 26, 2017AD based Nature permissibility remittances remitters transaction

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Whether the AD is required to check permissibility of remittances based on nature of transaction or allow the same based on remitters declaration?

1 Answer

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AD will be guided by the nature of transaction as declared by the remitter and will certify that the remittance is in conformity with the instructions issued by Reserve Bank.