It was argued that if immigration rules for Visa were the same for foreigners coming from any country, through any airline, then deposit details in banks for foreign exchange transactions must be in the same format as well.
The plea added that this step was also necessary to ensure that foreign money did not, in a camouflaged way, get transferred to accounts of separatists, fundamentalists, naxals, maoists, terrorists, traitors, conversion mafia and radical organizations like SIMI, PFI and others.
A direction was also sought to include the name and number of depositors, names of the currency and the exact amount of foreign currency and conversion rate whenever a foreign exchange transaction was made through an Indian bank, including branches of foreign banks in India.
Source: Barandbench
