MONEY CHANGING ACTIVITIES
The Reserve Bank of India (RBI) has clarified that for sale of foreign exchange to a person within
his/her eligibility on single drawal, APs may receive payment only by crossed cheque drawn
on the bank account of the applicant's firm / company sponsoring the visit of the applicant /
Banker's cheque / Pay Order /Demand Draft / debit cards / credit cards / prepaid cards, if the
rupee payment exceeds Rs 50,000/-
his/her eligibility on single drawal, APs may receive payment only by crossed cheque drawn
on the bank account of the applicant's firm / company sponsoring the visit of the applicant /
Banker's cheque / Pay Order /Demand Draft / debit cards / credit cards / prepaid cards, if the
rupee payment exceeds Rs 50,000/-
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