.....In India, forfaiting as an export financing option has been approved by the Reserve Bank of India. The facility is to be provided by an international forfaiting agency through an authorised dealer (see RBI Circular 42 A. D.(M.A.) series dated October 27, 1997). Forfaiting proceeds, on a without recourse basis, are to be received in India as soon as possible after shipment but within the period specified by RBI for realisation of export proceeds........
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