8C.7
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Sale of Overseas Telephone Cards
Agents in India enter into arrangements with reputed overseas organisations for selling latters pre-paid telephone cards against payment in Indian rupees or in foreign exchange drawn for business etc. visits abroad including travel under the Basic Travel Quota except for employment and on emigration. These cards are sold to the Indian travellers. Authorised dealers may allow the agents to remit the cost of such telephone cards to the overseas principals, after deducting commission. The application should be made by the Indian agent alongwith a statement showing the details such as the name and address of the overseas organisation, cost of each card, country/ies where the card can be used, rate of agency commission/mark-up receivable by the agent, name/address and passport number of each Indian traveller, accompanied by a certified copy of the agency agreement(s). An agent in India should also designate the branch of an authorised dealer with which the collections will be deposited and through which the remittance will be made to foreign principal/s. The designated branch of authorised dealer on satisfying that the application is in order with reference to the particulars furnished, allow the remittance net of commission of Indian agent subject to the compliance with the Guidelines in Annexure IV. No advance payment towards pre-paid telephone cards should be made to the overseas principal.