This Manual is a compendium of various statutory directions, administrative instructions, explanatory notes, etc. issued by Reserve Bank from time to time in connection with the administration of Exchange Control. It also embodies the directions of a standing nature issued by Reserve Bank to authorised dealers under the Foreign Exchange Regulation Act, 1973, setting forth their authority to buy and sell foreign exchange and to do other things incidental to foreign exchange banking as also procedures to be followed by them while dealing with matters relating to Exchange Control. The directions to full-fledged money-changers, restricted money-changers, Life Insurance Corporation, General Insurance Corporation and its subsidiaries, etc. in the matter of their respective business activities have been incorporated in separate