RBI eases outward remittance norms, removes prior approval requirement for non-bank entities – The Times of India
The Reserve Bank of India (RBI) on Wednesday removed the requirement for non-bank entities to obtain prior approval for tie-up arrangements to facilitate outward remittance services through banks in India, PTI reported.The central bank also issued a revised operating framework for facilitating outward remittance services by non-bank entities through Authorised Dealer (AD) Category-I banks.“On a…