The Reserve Bank of India (RBI) on July 03, notified regarding the release of foreign exchange for Miscellaneous Remittances.
The following has been stated namely: -
• It is in reference to A.P. (DIR Series) Circular No. 16 dated September 12, 2002, A.P.(DIR Series) Circular No. 55 dated December 23, 2003, and A. P. (DIR Series) Circular No.118 dated May 07, 2012, it is stated that these circulars shall stand withdrawn with immediate effect.
• It states that the Authorised Dealers shall obtain Form A2 in physical or digital form for all cross-border remittances irrespective of the value of the transaction.
[Circular no. - A.P. (DIR Series) Circular No. 13]
