(i)Indian newspapers/periodicals having a minimum daily/per issue circulation of 50,000 copies and Indian news agencies recognised by the concerned Administrative Ministry of Government of India may engage the services of correspondents/representatives abroad without the prior permission of Reserve Bank. Authorised dealers may allow remittances in such cases as under:
(a)The actual amount of exchange required towards monthly/maintenance expenses (salary, allowances, house rent etc.) of the correspondent/representative posted abroad as per the terms of their appointment. Other office expenses such as office rent, telephone/cable charges, postage, stationery etc. as also travel within the country of posting or visits to other countries to cover international events or specific assignments can be remitted on actual basis. Remittance can also be sent in advance on the basis of estimates furnished, subject to accounting. However, wherever "collect telex" facility has been made available by the Director General, Overseas Communication Service, Mumbai to the correspondent/representative in respect of sending telex message from foreign countries to India on a regular basis, remittances of telex charges would not be admissible.
(b) All remittances to the correspondents/ representatives posted in one country abroad should be remitted through one branch of an authorised dealer to be designated by the company. There is, however, no objection to designating different branches of authorised dealers for making remittances to correspondents / representatives posted to different countries.
Applications from Indian newspapers/periodicals which do not satisfy the above criteria and applications for posting of correspondent/representative on temporary basis for covering international events or on specific assignments should be referred to Reserve Bank for prior approval.
(ii)Indian Newspapers/periodicals/news agencies companies desiring to appoint correspondent/s or representative/s abroad and satisfying the conditions laid down in sub-paragraph (I) should advise by letter, the name/nationality/address of the correspondent/representative, country of posting and terms of appointment together with a certified copy of the consent letter from the correspondent/representative to the terms of appointment to the designated branch of authorised dealer through whom the remittances to the correspondent will be made by them, under intimation to the concerned office of Reserve Bank within whose jurisdiction the companys Head/Registered Office is situate. A certificate from the Audit Bureau of Circulation or the Companys auditors, confirming the circulation figures (in the case of newspapers/periodicals) or a copy of the recognition of the concerned Administrative Ministry of Government of India (in the case of news agency) should also be sent to the designated branch along with the letter. Applications for remittances to be made to the correspondent/representative under the arrangement should be made by the Indian company direct to the authorised dealer concerned on form A2 separately in respect of each correspondent/representative. The newspaper/periodical/news agency should submit to the designated branch of authorised dealer, in duplicate, a half-yearly statement as on 30th September/31st March every year in form CNP duly certified by its auditors, giving item-wise details of expenditure incurred in foreign exchange by each correspondent/representative. The statement should be submitted to the designated branch within one month of the close of the half-year to which it pertains.
(iii)On receipt of the application from the Indian newspaper/periodical/news agency on form A2, the designated branch of the authorised dealer may allow the remittance after ensuring that the amount of remittance is in conformity with conditions (a) AND (b) of sub-paragraph (i). The designated branch should keep a proper record (correspondent-wise) of remittances made and verify the same with the half-yearly statements in form CNP received from the company and also forward to Reserve Bank one copy of the statement after completing the certificate in Part C of the statement, within 15 days of the receipt from the newspaper/periodical/news agency.