QUESRY ON FIRC

[Subashree Raghuraman]

Dear All,

How to get firc certificate when payment received in INR

[jm sundaram]

Hai

Please ask your client to get the same from the Authorised dealer.

with regards

sundaram jm PCS

On Wed, Jul 17, 2019 at 3:46 PM Subashree Raghuraman <subashree....@gmail.com> wrote:

Dear All,

How to get firc certificate when payment received in INR

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     Sundaram jm

Company Secretary - Practising

RHR & Associates

No 5, II nd  floor, 7th cross, 22nd main,

HSR Layout, Sector 1, Bangalore 560102.

Phone: 9845875796/8217596700

[Subashree Raghuraman]

They are not providing since it is received in INR

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[mukesh mishra]

Dear Member

Please refer the below circular for your reference in case it is not resolved you may approach banking ombudsman for dispute resolution

RBI/2010-11/315
DPSS (CO) EPPD No. 1309 / 04.03.01 / 2010-11

December 13, 2010

The Chairman and Managing Director / Chief Executive Officer

of member banks participating in  RTGS / NEFT / NECS / ECS

Madam / Dear Sir,

Credit to NRE account through RTGS / NEFT / NECS / ECS - Issuance of Foreign
Inward Remittance Certificate (FIRC)

Please refer to our letter DPSS (CO) EPPD No.327/04.03.01/2009-10 dated August 14, 2009 on the subject. We were receiving references from member banks on issuance of FIRC to the beneficiaries for inward remittance to NRE accounts received through credit push systems like RTGS, NEFT, NECS and ECS. This matter was since examined and the following is clarified :

In terms of para 3.A.6 of Exchange Control Manual read with AD (MA series) circular No. 11 dated May 16, 2000, FIRC should not be issued against remittance for credit to NRE account.

2 Further, if the proceeds of inward remittance received are remitted in foreign currency itself to the beneficiary’s banker, then FIRC is to be issued by the bank which has received the proceeds in foreign exchange, i.e., the bank which converts the foreign currency into rupees is required to issue FIRC.

Yours faithfully

(P. Vasudevan)

Deputy General Manager

Thanks

Mukesh

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[arup dasgupta]

The bank in whose  account it is credited is supposed to arrange for it

On Wed, Jul 17, 2019, 15:46 Subashree Raghuraman <subashree....@gmail.com> wrote:

Dear All,

How to get firc certificate when payment received in INR

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[ACS suresh chaudhary]

We got payment in inr from nepal from export. Bank asked for noc and mt103 copy. indian bank will issue it on some charges as told by our bank. HDFC bank is communicating with indian bank. He advise us next time recieve the same by vostro account.

 Below are the list of the banks which VOSTRO account are with us if your customer will make the payment through below then payments will receive directly to us. 

Nepal Investment Bank  - "NPLINVBKL "

Sunrise Bank Limited -   "SBANKLTD"

Siddhartha Bank  - "SDHRTBKL"

Bank of Kathmandu- "KATHBANK"

kist Bank / Prabhu Bank- "KISTBL"

Janata Bank- " JBKNEPAL"

Century commercial Bank - "CNTYCMBK"

Everest Bank -  "EVEREST"

Grand Bank Nepal - GRNDBKNEPL

Citizen bank - "CZBNKNEPAL"