MANU/APDR/0072/2013

Ministry : Reserve Bank of India

Department/Board : RBI A.P. DIR (Series)

Circular No. : A.P. (DIR Series) Circular No. 109 RBI/2012-13/528

Date : 11.06.2013

Notification/ Circulars Referred:MANU/APDR/0120/2011 MANU/APDR/0120/2011;MANU/APDR/0137/2010 MANU/APDR/0137/2010;MANU/FEMA/0002/2013 MANU/FEMA/0002/2013

Referred IN

Notification/ Circulars Referred : A.P. (DIR Series) Circular No.35 dated October 14, 2011 MANU/APDR/0120/2011;A.P. (DIR Series) Circular No.17 dated November 16, 2010 MANU/APDR/0137/2010; Notification No.FEMA.274/2013-RB dated April 26, 2013 MANU/FEMA/0002/2013

Citing Reference:
A.P. (DIR Series) Circular No.35 dated October 14, 2011 MANU/APDR/0120/2011  Referred

A.P. (DIR Series) Circular No.17 dated November 16, 2010 MANU/APDR/0137/2010  Referred

Notification No.FEMA.274/2013-RB dated April 26, 2013 MANU/FEMA/0002/2013  Referred

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Processing and Settlement of Export related receipts facilitated by Online Payment Gateways - Enhancement of the value of transaction

Attention of Authorised Dealer Category 1 (AD Category - 1) banks is invited to the A.P. (DIR Series) Circular No.35 dated October 14, 2011 in terms of which AD Category I banks have been permitted to offer the facility to repatriate export related remittances by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSPs) for export of goods and services for value not exceeding USD 3000 per transaction, subject to the conditions stipulated therein.

2. The present instructions have been reviewed in the context of requests received for suitable enhancement of the value of the transaction from USD 3000. Accordingly, it has now been decided to increase the value per transaction from USD 3000 to USD 10,000 for........