Sale of Indian rupees against international cards allowed for authorised money changers, reimbursement via banking channels required. Authorised Money Changers may sell Indian rupees to foreign tourists and visitors against International Credit Cards and International Debit Cards, provided they take prompt steps to obtain reimbursement through normal banking channels; all other instructions of the earlier related circular remain unchanged and the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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Provisions expressly mentioned in the judgment/order text.
Sale of Indian rupees against international cards allowed for authorised money changers, reimbursement via banking channels required.
Authorised Money Changers may sell Indian rupees to foreign tourists and visitors against International Credit Cards and International Debit Cards, provided they take prompt steps to obtain reimbursement through normal banking channels; all other instructions of the earlier related circular remain unchanged and the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999.
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