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........