NCLAT: Cannot Withhold Income Tax Refund Received by Bank During CIRP In CD's Account  ||  All. HC: With S. 111 of BNS Covering 'Organised Crime' It Appears Gangsters Act has become Redundant  ||  P&H HC: Cannot Allow Changes in Admission Form after Submission  ||  Bom. HC: Findings in Criminal Proceedings Cannot Be Relied Upon While Adjudicating Civil Proceedings  ||  P&H HC Directs Jail Authorities to Decide Parole Applications within Four Months  ||  Allahabad HC: Merely Supporting Pakistan Will Not Prima Facie Attract Section 152 of BNS  ||  HP HC Upholds Wife’s Claim of Adverse Possession after Husband’s Death  ||  Patna HC: Maintenance may be Allowed in Disputed Marriages if Relationship Was Socially Accepted  ||  Karnataka HC: State to Respond in 3 Weeks regarding Mandatory Teaching of Kannada  ||  Delhi HC: Husband Unhappy in Marriage is No Proof of Abetment of Suicide    

Levy of charges on forex prepaid cards/store value cards/travel cards, etc.- (Reserve Bank of India) (09 May 2023)

MANU/APDR/0006/2023

Banking

1. Attention of Authorised Dealers is invited to relevant instructions contained in A.P. (DIR Series) Circular No. 46 dated June 14, 2005 and A.P. (DIR Series) Circular No. 102 dated April 02, 2012, regarding use of International Debit Cards/Store Value Cards/Charge Cards/Smart Cards or any other instrument that can be used to create a financial liability, as 'currency'.

2. A few Authroised Persons are levying certain fees/charges, which are payable in India on such instruments, in foreign currency. It is advised that fees/charges payable in India have to be denominated and settled in Rupees only.

3. The directions contained in this circular have been issued under sections 10 (4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law.

Tags : LEVY   CHARGES   CARDS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved