1.14
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Reference to Reserve Bank
Authorised dealers should refer to Reserve Bank any application for foreign exchange or other transaction which they are called upon to undertake and which does not fall within the scope of the powers delegated to them. They should, however, avoid referring to Reserve Bank any matter which is clearly covered by the provisions in the Manual and which they are empowered to dispose of. While referring applications to Reserve Bank, reasons for making the reference should be indicated citing, wherever necessary, the relevant provision in the Manual without which the applications will be returned to them. If a branch of an authorised dealer has any doubt regarding the interpretation of any regulation or whether any application for remittance etc. stands covered by the delegated authority or not, it should consult its controlling office. Authorised dealers should ensure that applications are made on the prescribed forms, wherever such forms have been prescribed, and are supported by appropriate documentary evidence.