RESERVE BANK OF INDIA
EXCHANGE CONTROL DEPARTMENT
CENTRAL OFFICE
MUMBAI 400 001


A.D.(M.A. Series) Circular No. 45 November 26, 1998
A.M.(F.L. Series) Circular No.4
A.M.(R.L. Series) Circular No.4

To

All Authorised dealers in Foreign Exchange
All Authorised Full-fledged Money Changers
All Authorised Restricted Money Changers

Dear Sirs,

Authorised dealers in foreign exchange

In terms of Section 6 of the Foreign Exchange Regulation Act, 1973, Reserve Bank has granted a licence to KBC Bank N.V. and also to Morgan Guaranty Trust Co. of New York to deal in foreign exchange. These banks have been permitted to undertake all types of foreign exchange transactions subject to the conditions and obligations enjoined upon authorised dealers in the Exchange Control Manual and directions issued by Reserve Bank from time to time under Section 73(3) of the Act, ibid.

2. The name of KBC Bank N.V. may be inserted after the name of Jammu and Kashmir Bank Ltd. and the name of Morgan Guaranty Trust Co. of New York may be inserted after the name of Mashreq Bank p.s.c. in Part A of Annexure to Chapter 1.

Yours faithfully,


B. MAHESHWARAN
Chief General Manager

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