Please
refer to FSCD Circular No. 06 dated March 26, 2007, in
terms of which aggregate Foreign Exchange Exposure Limit
(FEEL) of Authorised Dealers (ADs) was re-fixed for their
foreign exchange operations.
Now to streamline the procedure for review of FEEL of
all ADs on periodical basis/on their request, following
modus operandi will be followed:
•
FEEL of all ADs will be reviewed based on their Annual
Audited Accounts as at 31st December each year, when such
are available. Change if any will be conveyed to the respective
AD individually.
• Request received from individual ADs during the
year for their FEEL enhancement based on any material
change in paid-up capital will be reviewed at quarter
end i.e. March, June, and September, based on their audited
accounts reported by them to our Banking Surveillance
Department.
Other
instructions on the subject issued vide aforementioned
Circular will remain unchanged.