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of <h1>RBI Simplifies Forex Release for Private Travel: No More Passport Endorsements Needed, Streamlined Under FEMA 1999.</h1> The Reserve Bank of India issued a circular simplifying procedures for releasing foreign exchange for private travel abroad. Previously, authorized dealers and full-fledged money changers were required to endorse the amount of foreign exchange on travelers' passports. The new directive removes this requirement, allowing foreign exchange to be released based on a declaration by the traveler regarding the amount availed during the year. Travelers can still request endorsements on their passports if desired. This change aims to streamline the process and is issued under the Foreign Exchange Management Act, 1999. Authorized persons should inform their constituents of this update.
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