The Reserve Bank of India (RBI) is coming out with an e-learning package for authorised dealers in the foreign exchange category.

The package is being prepared in association with FEDAI (Foreign Exchange Dealers’ Association of India).

This was announced by RBI General Manager (Foreign Exchange Department), Mr P. K. Raut, at an Assocham event held here on Thursday.

Knowledge bases

He added that in order to guide customers, authorised dealers must be knowledge bases so far as FEMA (Foreign Exchange Management Act) is concerned.

In addition to the package, the RBI has also created nodal offices for all authorised dealers so that they get clarifications from the offices first, before directly approaching the bank.

“These measures are being taken to ensure that the authorised dealers can work on their own without coming to the RBI,” said Mr Raut.

He further added that once the new measures get stabilised, references to RBI will possibly be much less.

heena.k@thehindu.co.in

(This article was published on July 20, 2012)
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