If an application for remittance is approved, Reserve Bank will issue a permit printed on special security paper which will, inter alia, indicate name of applicant, amount sanctioned, name of beneficiary abroad and authorised dealer through whom remittance can be effected. All Reserve Bank permits for remittance of foreign exchange will be issued over the signatures of two officials. Authorised dealers may make remittances under the authority of the permit after verifying that

(a) the permit has been issued on security paper;

(b) all alterations/corrections thereon, if any, have been duly authenticated;

(c) the permit bears two full signatures on behalf of the issuing office of Exchange Control Department of Reserve Bank;

and

(d) the permit appears prima facie to be genuine.

Authorised dealers should endorse the amount of foreign exchange sold or remitted against the permit on the reverse of it under their stamp and signature. If the authorised dealer has any grounds to suspect that the permit presented for remittance is not in order or appears to have been fraudulently issued, he should immediately refer the matter to the issuing office. If any conditions have been prescribed by Reserve Bank while approving the remittance, authorised dealers should ensure that the conditions are fulfilled before making the remittance.