Offices/Branches of Authorised Dealers handling Foreign Exchange Business
(i)The Head/Principal Office of each authorised dealer should furnish an up-to-date list (in triplicate) of all its offices/branches which are authorised to transact foreign exchange business, as at the end of December every year giving their addresses and code numbers to the Chief General Manager, Exchange Control Department (Central Statistical Division), Reserve Bank of India, Central Office, Mumbai-400 001, so as to reach by 15th January of the following year. The lists should be completed showing the distribution of offices/branches area-wise i.e. according to area of jurisdiction of Reserve Bank offices and classified as under:
Category A : Offices and branches maintaining independent foreign currency accounts in their own names.
Category B : Offices and branches not maintaining independent foreign currency accounts but having powers of operating on the accounts maintained abroad by their Head/Principal Office or any other link office (The name of the latter office should also be indicated).
Category C : All other offices and branches handling foreign exchange business through other offices or branches in category A or B (The name of the latter office should also be indicated).
(ii)While forwarding the above lists to Reserve Bank, the Head/Principal Office of authorised dealer should also enclose a summary statement (in triplicate) in the following form:
Name and address of the authorised dealer:
Name of Reserve Bank office No. of branches under category A B C Ahmedabad Bangalore etc. Total
(iii)Authorised dealers should promptly report to Reserve Bank, any change in the status (i.e. category) of their offices/branches included in the above lists. As and when a new office/branch is opened with powers to handle foreign exchange business or an existing office/branch is delisted, same should be advised promptly to Reserve Bank (both to the Central Office as well as the Regional Office of Reserve Bank having jurisdiction over the concerned authorised dealers office/branch).
(iv)While designating and categorising offices/branches for undertaking foreign exchange business, authorised dealers should ensure that branches have adequate business and are fully equipped to handle foreign exchange business and to meet various requirements of Reserve Bank including timely submission of proper returns/statements. They should also undertake a review every year to ensure that the branches which do not satisfy the criteria are delisted/reclassified.