In order to further rationalise money changing
activities, the Reserve Bank today allowed authorised money changers
(AMCs) to sell Indian rupees to foreign tourists against international
debit cards.
This facility was earlier limited only to international credit cards.
"...it has been decided that Authorised Money Changers (AMCs) may
sell Indian rupees to foreign tourists/visitors against International
Credit Cards/International Debit Cards," RBI said in a notification.
RBI added that these AMCs should take prompt steps to obtain reimbursement through normal banking channels.
AMCs are authorised by the RBI to deal in foreign exchange for
specified purposes to widen the access of foreign exchange facilities to
residents and tourists.
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