September 15, 2022
To
All Category-I Authorised Dealer Banks
Madam/Sir,
Please refer to A.P. (DIR Series) Circular No. 120 dated April 10, 2014 on ‘Rupee Drawing
Arrangement – Direct to Account Facility’, in terms of which, foreign inward remittances received
under Rupee Drawing Arrangement (RDA) can be transferred to the KYC compliant beneficiary
bank accounts through electronic mode, such as, NEFT, IMPS, etc. subject to the procedure and
conditions mentioned therein.
2. As announced in Para 6 of the Statement on Developmental and Regulatory Policies issued
on August 05, 2022, it has been decided to allow foreign inward remittances received under the
Rupee Drawing Arrangement (RDA), to be transferred to the KYC compliant bank account of the
biller (beneficiary) through Bharat Bill Payment System (BBPS), subject to the conditions
mentioned in Para 3 of A.P. (DIR Series) Circular No.120 dated April 10, 2014.
3. AD Cat-I Banks may bring the contents of this circular to the notice of their constituents
concerned.
4. The directions contained in this circular have been issued under Section 10(4) and Section
11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to
permissions/approvals, if any, required under any other law.
Yours faithfully,
(Vivek Srivastava)
Chief General Manager