The Reserve Bank of India has today issued the revised Guidelines for “Internal Control over Foreign Exchange Businessâ€. First framed in 1981, the Internal Control Guidelines (ICG) were revised in December, 1996. The need to revise them once again was felt in the context of rapid pace of evolution of the forex markets in India and abroad as also, developments in information technology and its progressive usage in banks. A Group comprising officials from the Reserve Bank of India, Foreign Exchange Dealers’ Association of India, Fixed Income Money Market and Derivatives Association of India, State Bank of India, ICICI Bank and Standard Chartered Bank looked into the updation of the Internal Control Guidelines to make them contemporary and benchmark document. The document is designed to provide a scale of standards for the banks in the conduct of their foreign exchange business and is available on our website (www.rbi.org.in). http://www.contentwriter.info/2011/02/03/rbi-revises-internal-control-guidelines-for-forex-business/ I havent Checked the document completely, Just hoping there are some improvement about the gateway issue too. Meanwhile I had a conversation with eBay India Management on the Paypal Issue. Since Indian Jewellery Export is one of the biggest revenue source for eBay today, they are pushing hard to get the issue resolved. Hoping to get good results.
i am going to check the document. May be i will need your help. I will let you know when i will need your help.