International Credit Cards - Liberalisation of Facilities for Residents

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..... s for Residents Attention of authorised dealers is invited to A.P. (DIR Series) Circular No.73 dated January 24, 2003, relating to the use of International Credit Cards. 2. As a step towards further liberalisation, resident individuals maintaining a foreign currency account with an authorised dealer in India or a bank abroad, as permissible under extant Foreign Exchange Regulations, are free .....

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..... apply for purchase of prohibited items, like lottery tickets, banned or proscribed magazines, participation in sweepstakes, payment for call back services, etc. 5. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 6. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange M .....

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