RBI simplifies overseas money transfer process through digital platforms

The Reserve Bank of India has introduced a simplified framework for online outward remittances, shifting compliance responsibility to authorised banks while enhancing transparency for customers. Under revised RBI rules, authorised dealer banks will oversee FEMA and KYC compliance for outward remittance transactions facilitated through third-party online platforms. The Reserve Bank of India (RBI) on Wednesday … The post RBI simplifies overseas money transfer process through digital platforms appeared first on Times Kuwait .

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