Reserve Bank license to Dealers in foreign exchange transactions

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In order to provide adequate foreign exchange facilities and efficient customer service, the Reserve Bank has decided to grant licences to certain entities by authorising them as Authorised Dealer – Category II to undertake a range of non-trade current account transactions. Accordingly, Authorised Dealer – Category II are authorised to release / remit foreign exchange for the following non-trade current account transactions:


(a) Private visits,
(b) Remittance by tour operators / travel agents to overseas agents / principals / hotels,
(c) Business travel,
(d) Fee for participation in global conferences and specialized training,
(e) Remittance for participation in international events / competitions (towards training, sponsorship and prize money),
(f) Film shooting,
(g) Medical treatment abroad,
(h) Disbursement of crew wages,
(i) Overseas education,
(j) Remittance under educational tie up arrangements with universities abroad,
(k) Remittance towards fees for examinations held in India and abroad and additional score sheets for GRE, TOEFL, etc.
(l) Employment and processing, assessment fees for overseas job applications,
(m) Emigration and emigration consultancy fees,
(n) Skills / credential assessment fees for intending migrants,
(o) Visa fees,
(p) Processing fees for registration of documents as required by the Portuguese / other Governments, registration / subscription / membership fees to International Organisations.

 
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