Money changers can issue pre-paid instruments to tourists: RBI
Passport may be treated as a valid document for issuance of the said instruments.
Mumbai: Reserve Bank on November 11 allowed money changers to issue pre-paid instruments to foreign tourists as part of measures to provide valid currency in a convenient way.
"In order to avoid any inconvenience to foreign tourists, authorized persons may issue pre-paid instruments to them in terms of the instructions issued by Department of Payments and Settlement System, Reserve Bank of India, in exchange of foreign exchange tendered," RBI said in a notification.
Passport may be treated as a valid document for issuance of the said instruments, it said. Besides, it also allowed government departments to draw cash beyond the stipulated limit of Rs 10,000, in exceptional cases, only on production of evidence justifying their cash requirements in writing, at the discretion of an officer of the rank of General Manager and above.