Cus Cir No.60/2002 Date 13/09/2002
- Document type
- Circular
- Reference no.
- H
- Dated
General permission for Authorised Dealers to import currency notes from their overseas branches-regarding.
General permission for Authorised Dealers to import currency notes from their overseas branches-regarding.
In this connection, the Reserve Bank of India has informed that under the provisions of para 3D.6 of erstwhile Exchange Control Manual, which has been retained in FEMA, 1999 vide Annexure V attached to AD (MA Series) Circular No. 11 dated 16-5-2000, there is a general permission given to Authorised Dealers to import currency notes from their overseas branches/correspondents for meeting their normal banking requirements. In view of this, no specific clearance is required from RBI for such imports. A copy of RBI letter dated 10-6-2002, clarifying the matter, is enclosed for ready reference.
The above said instructions may be brought to the notice of all concerned to ensure that Authorised Dealers do not face problem in clearance of currency notes imported to meet their normal banking requirements. Difficulties, if any, in implementation of these instructions may be brought to the notice of the Board.
Yours faithfully,
(D.S. Garbyal)
Under Secretary to the Government of India