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of <h1>RBI Updates Forex Guidelines: Import Evidence Threshold Raised to USD 100,000 for Authorized Dealers Under FEMA 1999.</h1> The Reserve Bank of India has revised its guidelines for authorised dealers in foreign exchange regarding the submission of import evidence. The threshold for requiring documentary evidence of import has been increased from USD 25,000 to USD 100,000 for import remittances. For transactions exceeding this amount, dealers must follow up rigorously and report details to the Reserve Bank. Additionally, for remittances under USD 1,000,000, dealers can accept either the Exchange Control copy of the Bill of Entry or a certificate from the company's CEO or Auditor confirming the import. These changes are under the Foreign Exchange Management Act, 1999.
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