Release of foreign exchange: simplified documentation for current account remittances permitted up to a raised threshold. Authorised Dealers may release foreign exchange for permissible current account remittances on the basis of a simple letter stating applicant and beneficiary details, amount and purpose, without obtaining supporting documents including Form A-2, where payment is by cheque or demand draft and the remittance falls within the revised documentation-free threshold; AD banks must prepare dummy A-2 records for Balance of Payments reporting, and the directions are issued under Sections 10(4) and 11(1) of FEMA, 1999.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Release of foreign exchange: simplified documentation for current account remittances permitted up to a raised threshold.
Authorised Dealers may release foreign exchange for permissible current account remittances on the basis of a simple letter stating applicant and beneficiary details, amount and purpose, without obtaining supporting documents including Form A-2, where payment is by cheque or demand draft and the remittance falls within the revised documentation-free threshold; AD banks must prepare dummy A-2 records for Balance of Payments reporting, and the directions are issued under Sections 10(4) and 11(1) of FEMA, 1999.
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