Foreign Exchange Management Act, 1999 - Foreign Travel - Mode of payment in Rupees

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..... l Fledged Money Changers Madam / Sir, Foreign Exchange Management Act, 1999 - Foreign Travel - Mode of payment in Rupees Attention of Authorised Dealers Category I II and Full Fledged Money Changers (FFMCs) is invited to paragraph A.10 of the Annexure to A. P. (DIR Series) Circular No.19 dated October 30, 2000, in terms of which Authorised Dealers may accept payment in cash up to Rs. 50, .....

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..... s / credit cards / prepaid cards for travel abroad (for private visit or for any other purpose) provided - (i) KYC / AML guidelines are complied with, (ii) sale of foreign currency / issue of foreign currency travellers' cheques is within the limits (credit / prepaid cards) prescribed by the bank, (iii) the purchaser of foreign currency / foreign currency travellers' cheque and the credit .....

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