Release of Foreign Exchange for Miscellaneous Remittances

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..... Exchange for Miscellaneous Remittances Attention of Authorised Dealers is drawn to A.P.(DIR Series) Circular No 16 dated September 12, 2002. In terms of this circular, Authorised Dealers were advised to release amounts up to USD 500 or its equivalent for all permissible transactions on the basis of a simple letter from the applicant containing the basic information, viz., names and the address .....

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..... oes not exceed USD 5000 or its equivalent and the payment is made by a cheque drawn on the applicant's bank account or by a Demand Draft. 4. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 5. 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 .....

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