Attention of Authorized
Dealers (ADs) is invited to Paras 23 and
38, Chapter 17 of the Foreign Exchange Manal-2018
which set out regulations related to provision
of foreign exchange (FX) facilities by the
ADs to individuals for medical treatment
and studies abroad.
2. In order to facilitate and guide their
individual customers desirous of availing
above services, ADs are advised to ensure
the following:
i. Information regarding
provision of FX services for medical treatment/
studies abroad should be displayed at
prominent place at each authorized branch
of the AD.
ii. Adequate stock of
major foreign currencies should be maintained
at all authorized branches to meet cash
related requirements for such facilities.
iii. Brochures containing
information regarding services related
to medical treatment/studies abroad may
be made available at all branches. However,
such information must be placed at official
websites of the ADs alongwith list of
branches providing such services. Further,
such list should also be available at
all branches of the AD for guidance of
customers.
iv. The officials dealing
with such services should be trained/
made acquainted with the existing foreign
exchange rules and regulations governing
individual FX needs.
3. Failure to comply with the above instructions
shall attract regulatory action against
the concerned AD under relevant provisions
of the Foreign Exchange Regulation Act,
1947.
4. Authorized Dealers
are advised to ensure strict compliance
of the above instructions.