dominic's picture


Dominic Alexander Christy
Business Website:

DAC Consulting & Associates


Consulting in Foreign Exchange Management, FX rates optimization, Treasury Managment, FEMA Law ( Foreign Exchange Management Act 1999), Banking law, Project Finance, Debt Syndication, Venture Capital and CFO managerial services.

Accomplished professional with over 23 years of insightful experience in banking & consulting in the field of International trade operations, FEMA ( Foregin Exchange Managment Act 1999), Imports, Exports, Remittances, FDI(Foreign Direct Investment), ODI ( Overseas Direct Investment), ECB ( External Commercial Borrowing), Structured Trade Finance and related FEMA fields.

• Advanced skills in steering all aspects of Banking industry including International trade finance opertions , Compliance, AML & KYC ,banking operations, corporate banking, retail & correspondent banking, account services, business development and client servicing.
• Expertise in handling profit centre operations, forex operations, cash and treasury operations, private banking operations, liability banking, loan administration and branch & credit administration.
• Adroit in managing centralised data centre operations, financial reporting, credit & risk analysis, strategic management, training & development and personnel management.
• Well versed in trade operations, processes & systems related to banking industry and trade / export finance, URC 522, UCP 600, ISP 98, URDG 758 and URR 725 and Bank to Bank reimbursements.


View recent blog entries
Member for
7 years 7 months


First of what is "FATCA"? Foreign Account Tax Compliance Act (FATCA) FATCA is a US regulation which makes the entire world its tax collector while not being paid to do so. Typical of the mighty superpower who has the US dollar to enforce its will on others. The world is required to collect taxes on behalf of citizens of the US for
Data Mining… Most of us are familiar with this term. Personally I have over 9 terabytes of data and knowledge repositories. But how often do I actually use them and do I use them to better my existing performance. Food for thought. Predictive analytics uses enormous data for extracting information and using it to predict trends and behavior
Over the recent weeks, I have set a record of sorts. My maiden venture into the field of entrepreneurship was a huge step forward, but a risk none the less. I am now quite happy for several reasons. The first one being my concept of learning and understanding what the customer wants is a great success. I have built a huge network over the past
We often wish that we could hold accounts in the currency of our choosing. The good news is we are getting there. India in now convertible on current account, while we are partially convertible on capital account. More in later posts on current account and  capital account convertibility.   Reserve Bank of India has been our
The answer is very simple. You need an expert on your side who can guide you as to the practical nuances relating to receipt of funds and issue of shares to non residents under FEMA.   While the RBI Master Circular is written in plain and simple language, what is most need is practial experience in dealing with various situations that
2nd September 2011 Interbank Mobile Payment Service (IMPS)was launded for the public on 22nd November 2010 . IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers



Dear Reader, Continuing my previous post, I have been asked several times as to why FEMA should to be feared.  Gone are the days of FERA. First and foremost, the law is the law and ignorance of law is no excuse. FEMA may not be punitive in the sense that FERA imposed upon its violators CRIMINAL liability, while FEMA violation is a
India is convertible on current account. What does it mean? For day to day expenditure subject to certain restrictions on banned uses which includes but is not limited to sweep stake and lottery, call back charges, residents in India can freely spend on foreign exchange. To be more technical Let ME TELL YOU what is (a)   CURRENT
Incoterms® - International Commercial Terms The Incoterms rules are an internationally recognized standard and are used worldwide in international and domestic contracts for the sale of goods. First published in 1936, Incoterms rules provide internationally accepted definitions and rules of interpretation for most common commercial terms
When a person resident in India wishes to make remittance to non-residents, such remittances can be made by banks if the person making the remittance furnishes an undertaking, accompanied by a certificate from a Chartered Accountant (“CA”) certifying the rate for withholding tax as per section 195 of the Act. The banks forwards it to
  Are you affected by FEMA. Yes! is the resounding answer. At any point of time we are all exposed to this ACT in some way or another. Be it purchase of Foreign currency for your travel, receipt of a gift from your friends or relatives abroad or simply the use of credit card for your international purchases. It is always
Dear Readers, Here is a welcome relief!   Effective 1st July 2011, IRDA (Insurance Development Authority of India) has allowed portability on health insurance - i. e. shifting from one insurer to another on same terms and conditions..   The new facility will also help those policy holders who stick to one insurer