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| Circular number | Commercial Circular No. 28 of 2007 |
|---|---|
| File number | No.2007/TG-I/38/P |
| Date | 2007-03-12 |
| Type | Commercial Circular |
| Topic | general |
| Official PDF | indianrailways.gov.in |
Money Changer Licence for appointment of Rail Tourist Agents (RTAs) Sub: Money Changer Licence for appointment of Rail Tourist
GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAYA)
RAILWAY BOARD
No.2007/TG-I/38/P New Delhi, date 12.3.2007
The Chief Commercial Managers,
All Zonal Railways
(Commercial Circular No. 28 of 2007)
Sub: Money Changer Licence for appointment of Rail Tourist
Agents (RTAs).
Ref: Rail Tourist Agents Rules, 1980 vide notification No. TC-
II//2895/78/Rules dated 29.12.80
Para 3(5) of Rail Tourist Agent Rules1980, circulated vide letter dated 29-12-
1980 referred to above reads as under:-
“should possess a Money Changer’s licence from a competent authority to deal
with/handle the foreign exchange in India. “
In
this
connection
RBI
has
issued
guidelines
vide
No.
EC.DEL.FMD/719/12.01/99-2000 dated 07-08-1999 that no separate licence is
required to receive foreign currency in settlement of bills for goods and services rendered,
provided that amount is surrendered to an Authorised Dealer or Full Fledged Money
Changer within seven days of receipt.
A reference was received from Northern Railway seeking clarification regarding
condition of having Money Changer Licence by RTAs in view of the directions of RBI
mentioned above. Accordingly the matter has been examined in this office and it has been
decided that para 3(5) of RTA Rules, 1980 should be amended and revised. The revised
para should read as under:-
“should follow RBI guidelines to handle foreign exchange in India”
Necessary instructions may be issued to all concerned.
( U.Hazarika)
Director Passenger Marketing
Railway Board
No.2007/TG-1/38/P
New Delhi, date 12 3.2007
This issue with concurrence of Finance Directorate of Railway Board
For financial Commissioner, Railways
Copy to:
FA&CAOs of all Zonal Railways.
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