3A.4
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Payment of Inward Remittances in Rupees
Under Central Government Notification F.No. 10/22/ 90/NRI Cell dated 17th July 1992, any person in or resident in India (other than certain exempted categories) receiving foreign exchange is under an obligation to offer it for sale to an authorised dealer within the prescribed period. Except where specifically provided in this Manual or where the specific permission of Reserve Bank has been obtained, no authorised dealer shall open an account, in favour of a resident or a non-resident, in foreign currency.