Summary: The Reserve Bank of India (RBI), through A.P. (DIR Series) Circular No. 23 dated October 01, 2026, has revised the internal approval framework applicable to Authorised Dealers for facilitating outward foreign exchange remittances through online or physical submission of Form A2. The circular refers to A.P. (DIR Series) Circular No. 12 dated July 03, 2024, under which Authorised Dealer Category-I banks and Authorised Dealer Category-II entities were advised to frame appropriate internal guidelines with the approval of their Board for facilitating outward forex remittances based on online or physical submission of Form A2 and related documents. The revised instruction permits the required internal guidelines to be approved not only by the Board but also by any Board Committee or Management Committee to which powers have been delegated by the Board. All other instructions contained in the July 03, 2024 circular remain unchanged. Authorised Dealers may communicate the contents of the circular to their constituents. The RBI has issued the directions under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999, without prejudice to any permissions or approvals that may be required under any other law. The circular is addressed to all Authorised Dealers in Foreign Exchange and is signed by N. Senthil Kumar, Chief General Manager.
Reserve Bank of India
RBI/2026-27/279 A.P. (DIR Series) Circular No. 23 | Dated: October 01, 2026
To All Authorised Dealers in Foreign Exchange
Madam / Sir
Online submission of Form A2: Removal of limits on amount of remittance
Attention of Authorised Dealers (ADs) Category I banks and AD – Category II entities is invited to paragraph 3 of A.P. (DIR Series) Circular No. 12 dated July 03, 2024, on the captioned subject, in terms of which they were advised to frame appropriate internal guidelines with the approval of their Board, for the purpose of facilitating outward forex remittances on the basis of online / physical submission of Form A2 and other related documents.
2. On a review, it has now been decided that Authorised Dealers shall frame appropriate internal guidelines with the approval of their Board or any Board Committee / Management Committee to which powers have been delegated by the Board, for the purpose mentioned in the aforesaid circular.
3. All other instructions issued vide A.P. (DIR Series) Circular No. 12 dated July 03, 2024, remain unchanged. Authorised Dealers may bring the contents of this circular to the notice of their constituents.
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
(N. Senthil Kumar)
Chief General Manager
