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This Circular has increased this limit from INR307,284 or its equivalent to INR1,536,419 or its equivalent. No documents, including Form A-2, except a simple letter containing basic information as stated above is required provided the conditions mentioned below are fulfilled:
(a) Foreign exchange is being purchased for a permitted current account transaction.
(b) Amount does not exceed INR1,536,419 or its equivalent.
(c) Payment is made by a cheque drawn on the applicant’s bank account or by a Demand Draft.
