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    Liberalization of Export/Import procedures

    Liberalization of Export/Import procedures

    November 17, 2011 / 18:30 IST

    The Reserve Bank of India has been allowing requests from the exporters through their Authorised Dealer Category 1 banks for “set-off” of export receivables against import payables in respect of the same overseas buyer and supplier subject to certain terms and conditions. It has now been decided to delegate the power to Authorised Dealer Category – I banks to allow such set off with immediate effect. Detailed instructions in this regard have been issued in AP(DIR Series) Circular No. 47 dated November 17, 2011

    Ajit PrasadAssistant General Manager

    Press Release : 2011-2012/783

    Related Notification

    Nov 17, 2011

    		“Set-off” of export receivables against import payables- Liberalization of Procedure
    first published: Nov 17, 2011 06:30 pm

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