In terms of Rule 3 of the aforesaid Rules, withdrawal of exchange for the following transactions is prohibited:
-
Travel to Nepal or Bhutan.
-
Transactions with a person resident in Nepal or Bhutan (unless specifically exempted by Reserve Bank by general or special order).
-
Remittance out of lottery winnings.
-
Remittance of income from racing/riding etc., or any other hobby.
-
Remittance for purchases of lottery tickets, banned/prescribed magazines, football pools, sweepstakes, etc.
-
Payment of commission on exports made towards equity investment in Joint Ventures/Wholly Owned Subsidiaries abroad of Indian companies.
-
Remittance of dividend by any company to which the requirement of dividend balancing is applicable.
-
Payment of commission on exports under Rupee State Credit Route.
-
Payment related to “Call Back Services” of telephones,
-
Remittance of interest income on funds held in Non-Resident Special Rupee(NRSR) account scheme.
Detailed provisions can be seen in Schedule I annexed to the aforesaid Rules. |
