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of <h1>Foreign Exchange Dealers Can Now Release Up to USD 25,000 for Miscellaneous Remittances Without Extensive Documentation Under FEMA 1999.</h1> The circular addresses authorized dealers in foreign exchange, highlighting changes in the release of foreign exchange for miscellaneous remittances. Initially, dealers could release up to USD 5000 without extensive documentation, based on a simple letter from the applicant. This limit has now been increased to USD 25000. Dealers are not required to obtain documents like Form A-2 for transactions within this limit, provided the remittance is for a current account transaction not listed in specific government schedules, and the payment is made via cheque or demand draft. These directives are issued under the Foreign Exchange Management Act, 1999.
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