The Presidents/Chief Executives of all

Authorized Dealers in Foreign Exchange

Dear Sirs/Madam,

Instructions regarding Provision of Foreign Exchange Facilities for Medical Treatment and Studies Abroad

1. 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:

1. Information regarding provision of FX services for medical treatment/ studies abroad should be displayed at prominent place at each authorized branch of the AD.
2. Adequate stock of major foreign currencies should be maintained at all authorized branches to meet cash related requirements for such facilities.
3. 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.
4. 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.