All Authorised Dealers
in Foreign Exchange

Dear Sirs,

EXPORT OF SOFTWARE

Attention of Authorized Dealers is invited to paragraph 2 of F.E. Circular No. 07 dated the 20th June, 2000 in terms of which Software Houses/Companies are allowed to retain 25% of their export earning in Special Foreign Currency Accounts with the Authorized Dealers for payment of commission to overseas buyers and to meet other expenses such as promotional publicity, import of hardware/software and foreign concultant's fee etc.

2. It has now been decided to increase the above limit from 25% to 35%.

Other instructions on the subject shall, however, remain unchanged.