Issue of Prepaid Forex Cards- Due Diligence and Adherence to KYC norms

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..... Para 2 of the A. P. (DIR Series) Circular No. 104 dated April 04, 2012 . 2. It has been brought to our notice that some authorised dealers / full-fledged money changers may neither be exercising due diligence nor adhering to KYC norms while selling prepaid foreign currency cards (issued by a few select banks) to their customers. 3. In this connection, it is clarified that prepaid foreign c .....

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