RBI has vide its circular no. 102 dated 2nd April 2012 relaxed conditions for redemption of international debit cards/ store value cards/ charge cards/ smart cards which is used by resident Indians while on a visit out of India. Hitherto there was a condition that the unutilised balance lying in the card would be redeemed only after 10 days of the last transaction. Now they can redeem the unutilised balance in the card immediately on arrival but the Authorised Persons shall retain some amount for (a) amounts that are authorised by the traveller but remaining unclaimed from the AP on the date of request for redemption, (b) a sum not exceeding $100 for any pipeline transactions, and (c) transaction fees/ service tax payable in India. A copy of the said circular can be accessed here
Subscribe to:
Post Comments (Atom)
A Better India, A Better World
N. R. Narayana Murthy’s A Better India, A Better World is an unusual book in that it is neither quite an autobiography nor an economic trea...
-
Notification No. RBI/2026-27/177 dated 14 July 2026 Executive Summary The Reserve Bank of India has issued the RBI (Commercial Banks – G...
-
7.09 p.m. 25th September 2011 will forever be etched in the memory of Rajesh Vadgama a.k.a Raj, because that is the precise moment when he c...
-
MCA has vide its notification dated 20th September, 2018 given a limited time exemption to file form DIR-3-KYC for all DIN holders albeit wi...
No comments:
Post a Comment