Debit Authorities Letter

[Shruthi Shankar]

Hi Members,

Can someone throw some light on 'debit authorisation letter' required for filing SMF on FIRMS RBI? What exactly is it and its purpose.

Thanks in advance..

[Parchuri Sanjay]

The AD bankers charge fee for the FC-GPR approval since they take care of the process. So they take this Debit authorization letter from the Company in advance, based on which they will debt the bank account for charges once the process is completed.

Regards

Sanjay

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[Shruthi Shankar]

Thank you so much!

It was really helpful... :)

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