Money Transfer Service Scheme - List of Sub Agents

RBI/2012-13/286

A.P. (DIR Series) Circular No. 49

November 7, 2012

To,

All Authorised Persons, who are Indian Agents under Money Transfer Service Scheme.

Madam / Sir,

Money Transfer Service Scheme - List of Sub Agents

As per extant instructions, Authorised Persons (APs), who are Indian Agents under the Money Transfer Service Scheme (MTSS), are required to submit list of their Sub Agents to the Foreign Exchange Department (FED), Central Office (CO) of the Reserve Bank on a half yearly basis.

2. On a review, it has been decided to discontinue submission of the said half yearly statement to FED,CO. The list of Sub Agents has already been placed on the RBI website (www.rbi.org.in). Authorised Persons (Indian Agents) should inform any addition/ deletion to the list (names and addresses of Sub Agents) immediately, as and when they appoint/ remove any Sub Agent under the scheme, to the concerned Regional Offices (ROs) of the Foreign Exchange Department (FED) of the Reserve Bank, under whose jurisdiction their registered offices fall and the Forex Markets Division, Foreign Exchange Department, Reserve Bank of India, Central Office, Mumbai-400001. Authorised Persons (Indian Agents) should visit the RBI website and verify the list of Sub Agents on regular intervals and any aberration to the list observed may immediately be brought to the notice of the concerned FED ROs and FED Central Office (CO). Further, Authorised Persons (Indian Agents) should confirm the veracity of the list placed on RBI wesbite to FED CO either in form of a letter or by e-mail at within 15 days of the end of a quarter.

3. Authorised Persons (Indian Agents) may bring the contents of this circular to the notice of their constituents concerned.

4. The directions contained in this Circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions/approvals if any, required under any other law.

Yours faithfully,

(Rudra Narayan Kar)

Chief General Manager