Opening of Foreign Currency acount abraod

[Pavan Kumar]

Dear Friends,

 

Fact: Company has taken approval & complied with other formalities for ECB loan. Query:Please let me know whether prior approval from RBI & Intimation after opening of Foreign Currency acount abraod is required for parking ECB proceeds abroad?

 

Thank you

 

Pavan

[R V SECKAR]

Hello,

There is no necessity to get prior approval from RBI as you have already got approval and complied with ECB formalities.

Once you open such account , you may intimate the details of the account to RBI through your AD.

You may better approach your regional RBI ECD department and they will guide you in this regard.




R.V.Seckar

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