(i)

Agents in India appointed by reputed overseas transport organisations for selling their passes/tickets for rail/road/water transportation abroad to persons resident in

India undertaking visits to foreign countries, against payment in foreign exchange or in rupees, should apply to an authorised dealer for remittance of total cost thereof, net of commission payable to the Indian agent, to the overseas principal(s). The application should contain, inter alia, details such as name and address of the overseas transport organisation, country(ies)/ areas covered, types of passes/tickets sold, rate of commission receivable etc. duly accompanied by a copy of the agency agreement(s) indicating the aforesaid particulars. Agents in India should designate a branch of an authorised dealer with which the collection of cost of passes/tickets sold against payment in rupee/foreign currency will be deposited and through which remittances of net amount i.e. amount collected less commission/mark up would be made to the foreign principal. The designated branch of authorised dealer may allow the remittance, subject to the compliance with the Guidelines given in Annexure IV.

(ii)

Agents in India who have made tie up arrangements with overseas hotels/agents etc.

for providing hotel accommodation to travellers undertaking visits from India should apply to the authorised dealer giving full details of the arrangements supported by a copy of the relevant agreement. Authorised dealer may allow the remittance of the actual cost of the hotel accommodation provided it is paid out of the foreign exchange drawn for visits abroad and subject to the compliance with the Guidelines in Annexure IV. In case such agents desire to open foreign currency account for depositing collections made in foreign exchange, these agents will be permitted by Reserve Bank on application to collect payments in foreign currency from the travellers and deposit the same in foreign currency accounts opened with the designated branches of authorised dealers i.e. their bankers in India and remit the amounts so collected to their principals after deduction of their commission/mark up. Application for opening of foreign currency account for the purpose may be made by such agents to the Reserve Bank with full particulars.