Release of Foreign Exchange for Miscellaneous Remittances.

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..... cular No. 16 dated September 12, 2002, in terms of which the 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 addresses of the applicant and the beneficiary, amount to be remitted and the purpose of remittance. It was clarified .....

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..... does not exceed USD 25000 or its equivalent and the payment is made by a cheque drawn on the applicant's bank account or by a Demand Draft. AD banks shall prepare dummy A-2 so as to enable them to provide purpose of remittance for statistical inputs for Balance of Payment. 4. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 5.The direct .....

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