The RBI said that currently authorised dealer (AD) category-1 banks do not require separate approval from the RBI for undertaking cross border payment transactions.
However, non-bank entities, which provide PA-CB services as on date, shall apply to the RBI for authorisation by April 30, 2024.
Entities shall be allowed to continue such services till they receive communication from the RBI regarding the decision on their application, the central bank said. Authorisation for PA-CB activity may be sought for any one of the following categories export only PA-CB, import only PA-CB and export and import PA-CB.
Bu hikaye Financial Express Mumbai dergisinin November 01, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin November 01, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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