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

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..... 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 Gate .....

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..... 5. Reserve Bank has since amended the Regulations vide Notification No.FEMA.274/2013-RB dated April 26, 2013 and notified vide G.S.R.No. 343(E) dated May 29, 2013. 6. The directions contained in this circular have been issued under Section 10 (4) and Section 11 (1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if a .....

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