Monday, April 14, 2014

RBI relaxes some import/forex rules

.............Henceforth, RBI will not notify the names of foreign mining companies from which such an importer may import roughs by way of advance payments and without any limit or bank guarantee or standby letter of credit. However, banks remitting the advance payments must adhere to certain conditions. RBI says banks should undertake the transactions on their commercial judgment and ........

No comments: