Foreign Exchange Management Act (FEMA)
2. Application for remittances in foreign currency
A person firm or bank may apply to an Authorized Dealer for remittances in any foreign currency to a beneficiary abroad.
Application should be made in FORM -A1, if the purpose of remittance is import of goods into
For any other purpose in Form -A2
The Authorized Dealer may sell the foreign Exchange applied for if he think fit provided it is within his powers, and the purpose of remittance is an approved one.