All
Authorised Dealers
in Foreign Exchange,
Dear
Sirs,
Attention
of the Authorized Dealers is invited to the instructions
contained in para
42, Chapter
XIII of the Foreign Exchange Manual (7th
Edition, 1992), in terms of which they are required to obtain
State Banks prior approval for effecting remittances
in respect of imports where the documents have not been
received through them but have been received directly by
the importers.
2.
It has since been decided to waive the above requirement
and permit the Authorized Dealers to approve Forms
'I' and effect remittances in respect of imports
made against the contracts registered by them where the
documents have been received directly by the importers provided
the requests for remittances are accompanied by the triplicate
copies of Customs bill of entry for consumption or
Customs certified invoices, non-negotiable copies
of Bills of Landing/Airway Bills/Railway Receipts/Truck
Receipts, Invoices and 'I'
forms duly completed and signed by the importers.
3.
Formal amendment in the Foreign Exchange Manual (7th
Edition 1992) will be made in due course.