Offices Of Reserve Bank With Whom NRIs Should Correspond

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With the introduction of the Foreign Exchange Management Act, 1999, (FEMA) with effect from June 1, 2000, the objective of the Foreign Exchange Department (earlier known as Exchange Control Department) of Reserve Bank of India has shifted from conservation of foreign exchange to “facilitating external trade and payment and promoting the orderly development and maintenance of foreign exchange market in India”.

The new Act has brought about structural changes in the exchange control administration. Regulations have been framed fro dealing with various types of transactions. These regulations are transparent and have eliminated case-by-case approvals.

The Department ensures timely realization of expert proceeds and reviews, on a continuous basis, the existing rules in the light of suggestions received from various trade bodies and exporters’ forum.

The Department collects data relating to forex transactions from authorized dealers on a daily basis for exchange rate management and on a fortnightly basis for monthly quick estimates of balance of payments and quarterly balance of payments compilation.

The Department lays down policy guidelines for risk management relating to forex transactions in banks.

The Department is also entrusted with the responsibility of licencing banks/ money changers to deal in foreign exchange and inspecting them.

There is a “Standing Consultative Committee on Exchange Control” consisting of representatives from various trade bodies and authorized dealers which meets twice a year and makes recommendations for policy formulation.

With a view of further improving facilities available to NRIs and removing irritants, the Department is also engaged, on an ongoing basis, in reviewing and simplifying the procedures and rules.

NRIs should approach the respective Regional Offices of Foreign Exchange Department of Reserve Bank of India as shown hereunder:

RBI Office

Jurisdiction

Postal Address

Ahmedabad

State of Gujarat and UnionTerritory of Daman and Diu

The General Manager,

Foreign Exchange Department, Reserve Bank of India, P.B. No.1, Navjivan Post Office, Ashram Road, Near Gandhi Bridge, Ashram Road, Ahmedabad – 380 014.

Bangalore

State of Karnataka

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India, 10-3-8, Nrupathunga Road, P.B. No. 6768, Bangalore- 560 001.

Bhopal

State of Madhya Pradesh and State of Chhatisgarh

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India, M.P.State Co-Opposite Party. BankBuilding, Malaviya Nagar, P.B. No.312, Bhopal – 462 003.

Bhubaneswar

State of Orissa

The Assistant General Manager, Foreign Exchange Department, Reserve Bank of India,, New Office Building, Unit III, Sachivalaya Marg, P.B. No.111, Bhubneswar – 751 001.

Chandigarh

States of Haryana (excluding the districts of Faridabad, Gurgaon and Sonepat), Himachal Pradesh and Punjab and Union Territory of Chandigarh.

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India, Mann Building, SCO 17-18-19, Sector 17-B, Post Bag No.2, Chandigarh – 160 017.

Chennai

State of Tamil Nadu and UnionTerritory of Pondicherry.

The General Manager,

Foreign Exchange Department, Reserve Bank of India, Fort Glacis, Rajaji Road, P.B. No.2504, Chennai – 600 001.

Guwahati

States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura.

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India, Station Road, Pan Bazaar, P.B. No.120, Guwahati – 781 001.

Hyderabad

State of Andhra Pradesh

The General Manager,

Foreign Exchange Department, Reserve Bank of India,, 6-1-56, Secretariat Road, Saifabad, P.B. No.1, Hyderabad – 500 004.

Jaipur

State of Rajasthan

The General Manager,

Foreign Exchange Department, Reserve Bank of India, Rambagh Circle, Tonk Road, P.B. No.12, Jaipur – 302 004.

Kanpur

State of Uttar Pradesh excluding New Okhla Industrial Development Area (NOIDA) in Ghaizabad district and State of Uttarakhand

The General Manager,

Foreign Exchange Department, Reserve Bank of India, M.G. Road, P.B. No.82, Kanpur- 208 001.

Kochi

State of Kerala and UnionTerritory of Lakshadweep

The General Manager,

Foreign Exchange Department, Reserve Bank of India, Ernakulam North, Kochi- 682 018.

Kolkata

States of Sikkim and West Bengal and Union Territory of Andaman and Nicobar Islands.

The General Manager,

Foreign Exchange Department, Reserve Bank of India, 15, Netaji Subhas Road, P.B. No.2026, Kolkata – 700 001.

Mumbai

State of Maharashtra, UnionTerritory of Dadra & Nagar Haveli.

The General Manager,

Foreign Exchange Department, Reserve Bank of India, C-7, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051.

New Delhi

State of Delhi, the districts of Faridabad, Gurgaon and Sonepat of State of Haryana and New Okhla Industrial Development Area (NOIDA) in Ghaziabad district of State of Uttar Pradesh.

The General Manager,

Foreign Exchange Department, Reserve Bank of India,, 6, Parliament Street, P.B. No.696, New Delhi – 110 001.

Panaji

State of Goa

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India,, 3A-3B, SesaPlattoPlaza, Panaji – 403 001.

Patna

State of Bihar and State of Jharkhand

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India, South of Gandhi Maidan, Post Bag No.162, Patna – 800 001.

Srinagar/ Jammu

State of Jammu and Kashmir

The Deputy General Manager,

Foreign Exchange Department, Reserve Bank of India, Amir Manzil, IC Rajbagh, Srinagar – 190 008.

NOTE 1:

Nagpur Office of Reserve Bank deal with applications from persons, firms and companies resident in the districts of Akola, Amravati, Bhandara, Buldhana, Chandrapur, Gadchiroli, Nagpur, Wardha and Yeotmal of the State of Maharashtra, for travel and sundry remittances outlines in Chapter 2 which are beyond the powers delegated to authorized dealers.

NOTE 2:

Reference to Reserve Bank should be made to the office of Foreign Exchange Department within whose jurisdiction the applicant person, firm or company resides or functions unless otherwise indicated. If for any particular reason, a firm or a company desires to deal with a different office of Foreign Exchange Department it may approach the office within whose jurisdiction it functions for necessary approval.

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