The package is being prepared in association with FEDAI (Foreign Exchange Dealers’ Association of India).
The announcment was made by RBI General Manager (Foreign Exchange Department), P. K. Raut, at an Assocham event held at the capital.
He added that in order to guide customers, authorised dealers must be knowledge bases so far as FEMA (Foreign Exchange Management Act) is concerned.
In addition to the package, the RBI has also created nodal offices for all authorised dealers so that they get clarifications from the offices first, before directly approaching the bank. Once the new measures get stabilised, references to RBI will possibly be much less.