The remittance facility under the Scheme is not available for the
Remittance for any purpose specifically prohibited under
Schedule-I (like purchase of lottery tickets/sweep stakes, proscribed
magazines, etc.) or any item restricted under Schedule II of Foreign Exchange
Management (Current Account Transactions) Rules, 2000.
Remittance from India for margins or margin calls to overseas
exchanges / overseas counterparty.
Remittances for purchase of FCCBs issued by Indian companies in
the overseas secondary market.
Remittance for trading in foreign exchange abroad.
Capital account remittances, directly or indirectly, to countries
identified by the Financial Action Task Force (FATF) as “non- cooperative
countries and territories”, from time to time.
Remittances directly or indirectly to those individuals and
entities identified as posing significant risk of committing acts of terrorism
as advised separately by the Reserve Bank to the banks.
RI cannot gift to another RI, in foreign exchange, for the credit of latter's
foreign currency account held outside India.