(i) Authorised Dealers may issue travellers cheques/letters of credit/drafts to foreign tourists/transit passengers and make remittances towards their hotel accommodation, tour arrangements etc. either against reimbursement in any permitted currency by banks abroad or against surrender of foreign currency drafts, cheques, etc. by the applicant. Authorised dealer may also sell foreign currency notes, coins and travellers cheques to such persons against internationally recognised credit cards provided reimbursement is obtained promptly in any permitted currency from the credit card issuing institution abroad. Authorised dealers may also issue travellers cheques/letters of credit/drafts to foreign nationals who are not permanently resident in India and make remittances towards their hotel accommodation, tour arrangement, etc. if funds are provided by them from an external source. If, however, funds are provided from a resident source, authorised dealers may permit such remittances only within the remittance entitlements in terms of paragraph 11D 3. Issue of foreign currency notes may be restricted to US $ 500 or its equivalent

(ii) Full-fledged money changers/Restricted money changers may sell rupees to foreign tourists against International Credit Cards and obtain reimbursement promptly through banking channel from the overseas credit card issuing organisations