All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

UPDATION/REVISION OF THE FOREIGN EXCHANGE MANUAL

Authorised Dealers are advised that the Foreign Exchange Manual is being updated by incorporating the changes conveyed to them through various FE Circulars and Circular Letters etc. issued upto 31-12-2001. Some of the existing instructions have been revised/amended and are detailed in Annexure to this circular, which will come into force with immediate effect.

2. Some of the existing paragraphs have been re-drafted in order to make them clearer and the procedural changes made in the existing provisions will become effective with the issuance of the revised Manual (Eighth Edition – 2002) on 1st February 2002.

3. Some of the prescribed forms (Appendix V) have also been revised as a consequence of changes made in the relevant instructions and serial numbers of the forms have been rearranged. Authorised Dealers will, however, continue to use the existing format till issuance of the revised Manual.

4. Updating of Foreign Exchange Manual will be an ongoing process, therefore, changes in future will be made, whenever necessary.

5. Please bring the above to the notice of your all constituents.

Annexure1 to FE Circular 1/2002