Release of Foreign Exchange for Imports - Further Liberalisation - RBI
PERSONS, firms and companies for making payments, exceeding USD 500 or its equivalent towards imports into India are to make applications in Form A-1.
After considering suggestions from various stakeholders, RBI reviewed this monetary limit and it has been decided as a measure of liberalization to raise the above limit for foreign exchange remittance towards imports without any documentation formalities, from USD 500 or its equivalent to USD 5000 or its equivalent, with immediate effect.
RBI A.P. (DIR Series) Circular No. 82, Dated: February 21, 2012