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of <h1>RBI Clarifies Procedure for Surrendering Exchange Control Copies of Advance Licences Post-Utilization; Licensing Authorities Advised.</h1> The circular from the Directorate General of Foreign Trade addresses the procedure for surrendering the Exchange Control copy of Advance Licences after their full utilization. Exporters have raised concerns about submitting these copies to authorized dealers instead of Regional Licensing Authorities. The Reserve Bank of India (RBI) clarified that authorized dealers should retain and forward these copies to the RBI after full utilization, as per the Exchange Control Manual. Licensing authorities are advised not to demand these copies post-utilization and should accept photocopies and certified documents from authorized dealers to discharge export obligations. This directive is approved by the Director General of Foreign Trade.
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