MANU/APDR/0075/2015

Ministry : Reserve Bank of India

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

Circular No. : A. P. (DIR Series) Circular No. 16
                   RBI/2015-2016/185

Date : 24.09.2015

Notification/ Circulars Referred : A. P. (DIR Series) Circular No.109 dated June 11, 2013 MANU/APDR/0072/2013;A.P. (DIR Series) Circular No.17 dated November 16, 2010 MANU/APDR/0137/2010

Citing Reference:
A. P. (DIR Series) Circular No.109 dated June 11, 2013 MANU/APDR/0072/2013  Referred

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

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Processing and settlement of import and export related payments facilitated by Online Payment Gateway Service Providers

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to the A. P. (DIR Series) Circular No.109 dated June 11, 2013 read with A.P. (DIR Series) Circular No.17 dated November 16, 2010 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) in respect of export of goods and services.

2. To facilitate e-commerce, it has been decided to permit AD Category-l banks to offer similar facility of payment for imports by entering into standing arrangements with the OPGSPs. The revised consolidated guidelines on such imports and exports are as under:

General:

2.1 AD Category-I banks desirous of entering into such an arrangement/s should report the details of each such arrangement as and when entered into to the Foreign Exchange Department, Central Office, Reserve Bank of India, Mu........