Remittances to Non Cooperative Countries – RBI circular
The Reserve Bank of India has cautioned Authorised Dealers (AD) banks about the restriction of remittances to non co-operative countries and territories (NCCTs). The RBI wants the banks to update their information from the website www.fatf-gafi.org . This website shows Myanmar, Nauru and Nigeria as the NCCTs as on 12th February 2005.
RBI CIRCULAR NO. 38, Dated: March 31, 2005