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of <h1>RBI Circular: Guidelines for Authorized Dealers on Foreign Exchange Transactions under FEMA Rules, 2000.</h1> The circular from the Reserve Bank of India, dated August 24, 2000, addresses authorized dealers in foreign exchange, highlighting the Foreign Exchange Management (Current Account Transactions) Rules, 2000. It outlines the need for government or Reserve Bank approval for certain transactions, as specified in Schedules II and III of the notification. The document provides detailed instructions for handling import transactions, including the issuance of letters of credit, remittances, and evidence of import. It emphasizes compliance with the Export-Import Policy, banking procedures, and the Research and Development Cess Act. The circular also discusses handling import documents, import of currency, and merchant trade transactions.
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