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This circular provides that banks in India can now receive cross-border inward remittances under Rupee Drawing Arrangements (RDA) through Exchange Houses situated in all countries which are FATF compliant under Speed Remittance Procedure.
Items No. 7 and 8 under Part (B) – Permitted Transactions have been modified, as under, to reflect the above mentioned change: –
7. Payments to medical institutions and hospitals in India, for medical treatment of NRI/their dependents and nationals of all FATF countries.
8. Payments to hotels by nationals of all FATF compliant countries/NRI for their stay.
