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Asian Clearing Union includes Bangladesh, Iran, Myanmar, Pakistan, Sri Lanka & India
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ACU – Asian Clearing Union includes Bangladesh, Iran, Myanmar, Pakistan, Sri Lanka & India
Resident Person outside India: A Person Resident Outside India (PROI) generally means a person who is not resident in India under FEMA. It can include:
- A foreign individual — e.g., a buyer based in the USA
- A foreign company — e.g., a company incorporated in UAE
- A foreign bank
- Certain foreign entities/institutions
- An Indian citizen/NRI who qualifies as a person resident outside India under FEMA
