 |
|
For business information, annual reports, laws, ordinances, regulations and articles. |
|
|
8. Debits to Non-Resident Bank Accounts against
Currencies sold by Authorised Dealers :-
The State Bank has no objection to the sale of foreign currencies to non-resident bank
branches and correspondents provided the remittance is charged against credit balance
available in their non-resident Rupee account. In such cases, Authorised Dealers may
approve forms 'M' covering such transfers on behalf of the State Bank.
Following para has been deleted by F.E Cir. No. 10 dated F.E.
Circular No. 10 26th May, 1999.
