Gupta Mathur & Associates

RBI allows utility bills, tax payments under inward remittance

Reserve Bank today allowed payments to utility service providers, tax payments, and EMI payments in India with a view to expand the scope of cross-border inward remittances.

Cross-border inward remittance is a Rupee Drawing Arrangement (RDA) were remittances are received in India through exchange houses situated in gulf countries, Hong Kong, Singapore and Malaysia (for Malaysia only under Speed Remittance Procedure).

haratiya Mahila Bank (BMB), the first all-women bank, today signed an agreement with Institute of Chartered Accountants of India (ICAI) for financing students pursuing chartered accountancy