AMCs can now sell INR to foreign tourists via international cards
Current · Source: Reserve Bank of India · RBI/2012-13/473 · issued 05 Apr 2013 · ~1 min read
Quick answerRBI now allows Authorised Money Changers to sell Indian rupees to foreign tourists against International Credit/Debit Cards, with reimbursement through normal banking channels. This expands payment options for visitors.
The rule, in the simplest words
Authorised Money Changers (AMCs) can now sell Indian rupees to foreign tourists using their International Credit or Debit Cards.
AMCs must get the money back (reimbursement) through normal bank channels, not cash.
All other old rules from 2009 still apply and have not changed.
How it plays out — a real example
A credit & lending officer in Indore, who also runs a small AMC booth at a local hotel, now accepts a foreign tourist's International Debit Card to give them ₹5,000. She then sends the transaction details to her bank for reimbursement, making the process smooth and digital for the visitor.
What changed
Previously, the rules for money changing activities did not explicitly permit AMCs to sell rupees against international cards. Now, AMCs can accept International Credit/Debit Cards from foreign tourists for rupee sales, and must seek reimbursement via standard banking channels. All other existing instructions from the 2009 circular remain unchanged.
What it means for you
For banks and AMCs, this opens a new revenue stream by allowing card-based rupee sales to foreign tourists, reducing reliance on cash. It simplifies transactions for visitors and aligns with digital payment trends. However, AMCs must ensure prompt reimbursement through banking channels to avoid compliance issues.
What you must do
Update internal procedures to accept International Credit/Debit Cards for rupee sales to foreign tourists.
Ensure prompt reimbursement for such transactions through normal banking channels.
Train staff on the new facility and maintain records for audit and compliance.
Communicate this change to all relevant branches and constituents.
Who it affects
Authorised Money Changers (AMCs), Banks handling foreign exchange, Foreign tourists and visitors to India
❓ Common questions
Can AMCs now accept any international card for rupee sales?
Yes, AMCs can sell Indian rupees to foreign tourists against International Credit Cards and International Debit Cards, as per the circular.
What about other money changing rules?
All other instructions from the 2009 circular remain unchanged. Only the specific provision on card-based sales has been added.
Is there any additional approval needed for this?
No, the circular is issued under FEMA and does not require separate permission, but compliance with other laws remains necessary.
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/473
A.P. (DIR Series) Circular No. 96
April 5, 2013
To,
All Authorised Persons
Madam/ Dear Sir,
Memorandum of Instructions governing money changing activities
Please refer to Para E 2(ii) of Annex I of {A.P.(DIR Series) Circular No. 57 [A.P.(FL/RL Series) Circular No.04] } dated March 09, 2009 on the captioned subject.
2. On a review, it has been decided that Authorised Money Changers (AMCs) may sell Indian rupees to foreign tourists /visitors against International Credit Cards / International Debit Cards and should take prompt steps to obtain reimbursement through normal banking channels.
3. All the other instructions contained in A.P.(DIR Series) Circular No. 57 [A.P.(FL/RL Series) Circular No.04] dated March 09, 2009 as amended from time to time shall remain unchanged.
4. Authorised Persons may bring the contents of this circular to the notice of their constituents concerned.
5. The directions contained in this Circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permission /approvals, if any, required under any other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager-i-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/473 · issued 05 Apr 2013. The plain-English explanation above is BankPulse’s own independent summary.
Communicate this change to all relevant branches and constituents.
⚙️ Operations
Train staff on the new facility and maintain records for audit and compliance.
📜 Compliance
Update internal procedures to accept International Credit/Debit Cards for rupee sales to foreign tourists.
Ensure prompt reimbursement for such transactions through normal banking channels.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (Authorised Money Changers (AMCs), Banks handling foreign exchange, Foreign tourists and visitors to India), your first concrete step on “AMCs can now sell INR to foreign tourists via international cards” is: “Update internal procedures to accept International Credit/Debit Cards for rupee sales to foreign tourists.” (RBI issued this 05 Apr 2013).
Circular: RBI/2012-13/473 -- AMCs can now sell INR to foreign tourists via international cards
Issued: 05 Apr 2013
Action required: Update internal procedures to accept International Credit/Debit Cards for rupee sales to foreign tourists.
Action required: Ensure prompt reimbursement for such transactions through normal banking channels.
Action required: Train staff on the new facility and maintain records for audit and compliance.
Action required: Communicate this change to all relevant branches and constituents.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7930&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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