Reserve Bank Of India
A.P. (DIR Series) Circular No. 96
April 5, 2013
To,
All Authorised Persons
Madam/ Dear Sir,
Memorandum of Instructions governing money changing activities
Please refer to Para E 2(ii) of Annex I of
{A.P.(DIR Series) Circular No. 57
[A.P.(FL/RL Series) Circular No.04] } dated March 09, 2009 on the captioned
subject.
- On a review, it has been decided that Authorised Money Changers (AMCs) may
sell Indian rupees to foreign tourists /visitors against International Credit
Cards / International Debit Cards and should take prompt steps to obtain
reimbursement through normal banking channels.
- All the other instructions contained in A.P.(DIR Series) Circular No. 57
[A.P.(FL/RL Series) Circular No.04] dated March 09, 2009 as amended from time to
time shall remain unchanged.
- Authorised Persons 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 permission /approvals, if any, required under
any other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager-i-Charge
RBI/2012-13/473