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Home > All news > Export Import > RBI issues draft norms to rationalise export-import transactions

RBI issues draft norms to rationalise export-import transactions

July 4, 2024
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Mumbai - The Reserve Bank of India has released draft regulations to rationalise norms for export-import transactions, proposing discretionary powers for banks when it comes to a 'caution list' for exporters who fail to bring in foreign exchange on time."Where an export amount is outstanding in EDPMS (export data processing and monitoring system) for a period of more than two years from the due date of realization (including extension of the period granted by authorised dealer bank, if any), AD banks shall ensure that exporter is flagged as 'caution listed' in the EDPMS," the RBI said in the . . .

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