home page 



IT News

Daily Rates

Book Store





click here

    banking    overview | news | basics | lendings |advanced banking | products | IT in banking  
articles & policies | banking software| deposits| bank directory| internet banking| bank results| banking & you

Appointment of Foreign Nationals as directors on the board of Indian companies- Provision under FEMA

RBI has clarified that under the Foreign Exchange Management Act, 1999, appointment of a foreign national as a director on the board of directors of an Indian company does not require the Reserve Bank’s approval.

It is further clarified that the Reserve Bank has also granted general powers to an Indian company to make payment in rupees towards sitting fees or commission or remuneration and travel expenses to and from and within India to its non-whole time director who is resident outside India and is on a visit to India for the company’s work.

>>> Visit policy guidelines section

about us | contact us | associate | terms of use | disclaimer

©copyright banknetindia.com  All rights reserved worldwide.