RBI permits remittances to PM relief fund via exchange houses

The Reserve Bank today said permitted remittances to Prime Minister's National Relief Fund through exchange houses on the condition such that the fund should be directly credited to the banks.

"It has been decided to permit remittances to the Prime Minister's National Relief Fund through the Exchange Houses subject to the condition that the remittances are directly credited to the Fund by the banks and the banks maintain full details of the remitters," RBI said in a notification.

The rupee drawing arrangements with exchange houses are mainly designed to channel inward personal remittances.

Donations and contributions to charitable institutions are not allowed to be routed through exchange houses.