Saturday, June 16, 2012

Release of Foreign Exchange for without Documentation

The Reserve Bank of India (RBI) were advised to banks to release amounts up to Rs 25000 or its
equivalent for all permissible current account transactions on the basis of a simple letter from
the applicant containing the basic information, viz., names and the addresses of the applicant
and the beneficiary, amount to be remitted and the purpose of remittance. It was clarified in the
circular that Authorized Dealers need not insist upon submission of A2 Forms in such cases.

0 comments:

Post a comment