Encashment Certificate requirement: authorised dealers may issue ECF on letter head when requested, security paper rule removed. Encashment Certificate issuance procedures are amended to allow Authorised Dealer banks (Category I) to provide the form ECF on their letter head (with logo), duly signed by authorised officials, when requested by customers, regardless of the amount; the security paper requirement is withdrawn. Proper records of all ECFs must be maintained and customers advised that absence of an ECF may bar conversion of unspent local currency held by non resident visitors into foreign currency. Directions are issued under the Foreign Exchange Management Act and do not affect other statutory permissions.
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Encashment Certificate requirement: authorised dealers may issue ECF on letter head when requested, security paper rule removed.
Encashment Certificate issuance procedures are amended to allow Authorised Dealer banks (Category I) to provide the form ECF on their letter head (with logo), duly signed by authorised officials, when requested by customers, regardless of the amount; the security paper requirement is withdrawn. Proper records of all ECFs must be maintained and customers advised that absence of an ECF may bar conversion of unspent local currency held by non resident visitors into foreign currency. Directions are issued under the Foreign Exchange Management Act and do not affect other statutory permissions.
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