The President / Chief Executives of all

Authorized Dealers in Foreign Exchange,

Dear Sir / Madam,

Facilitation for IT Companies and Freelancers

               Attention of Authorized Dealers is invited towards Para 12 of Chapter 12 of Foreign Exchange Manual, which contains instructions for dealing with exports receipts and outward payments on behalf of IT Companies and Freelancers.

2.        In order to further facilitate IT Companies and Freelancers in timely processing of inward export receipts and outward remittances from their Exporters’ Special Foreign Currency Accounts (ESFCAs), It has been decided to amend the above referred para. Accordingly, the revised Para 12 of Chapter 12 of Foreign Exchange Manual is attached, as Annexure-A, for meticulous compliance by the Authorized Dealers.
3.        In addition, Authorized Dealers are advised to devise an internal mechanism to resolve the complaints of IT Companies and Freelancers in a timely manner.