RBI/2013-14/516
A. P. (DIR Series) Circular No. 111
March 13, 2014
To,
All Authorised Dealer Category - I Banks
Madam / Sir,
Rupee Drawing Arrangement - Increase in trade related remittance limit
Attention of Authorised Dealer Category – I (AD Category – I) banks is
invited to Part (B) of Annex-I to the
A.P. (DIR Series) Circular No. 28 [A. P.
(FL/RL Series) Circular No. 02] dated February 6, 2008 on Memorandum of
Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro
Accounts of Non-resident Exchange Houses, as amended from time to time.
- On a review of the Permitted Transactions under the Rupee Drawing
Arrangements (RDAs), it has been decided to increase the limit of trade
transactions from the existing Rs 2,00,000/- (Rupees Two Lakh only) per
transaction to Rs 5,00,000/- (Rupees Five Lakh only) per transaction, with
immediate effect.
- All other instructions issued vide
A.P. (DIR Series) Circular No. 28 [A. P.
(FL/RL Series) Circular No. 02] dated February 6, 2008, as amended from time to
time, will remain unchanged.
- AD Category - I banks may bring the contents of this circular to the notice
of their constituents concerned.
- The directions contained in this circular have been issued under Section
10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of
1999) and are without prejudice to permissions / approvals, if any, required
under any other law.
Yours faithfully
(Rudra Narayan Kar)
Chief General Manager-in-Charge