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To streamline
the remittance under the Speed Remittance Procedure and make it cost-effective,
it has now been decided to do away with the requirement of maintaining
collateral or cash deposits by the Exchange Houses with whom the banks have
entered into the Rupee Drawing Arrangement.
The AD banks are
free to determine the collateral requirement, if any, based
on factors and may frame their own policy in this regard :
whether the
remittances are pre-funded,
the track record
of the Exchange House,
whether the
remittances are effected on gross or net basis, etc.
Based on the RBI notification dated
28/04/2016. Please refer www.rbi.org.in in case
of any further clarification………….. Poppy
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