write off relaxation, bank process on export bills in India

Exporter Bank formalities in India to write off export proceeds 


According to Reserve Bank of India update as on 08th January 2021, the directions on Relaxation on export proceeds - the process of exporter bank in India is given below:

C.25 Write-off – relaxation

As announced in the Foreign Trade Policy (FTP), 2015-20, realization of export proceeds shall not be insisted upon under any of the Export Promotion Schemes under the said FTP, subject to the following conditions:

a) The write off on the basis of merits is allowed by the Reserve Bank or by AD Category – I bank on behalf of the Reserve Bank, as per extant guidelines;

b) The exporter produces a certificate from the Foreign Mission of India concerned, about the fact of non-recovery of export proceeds from the buyer; and

c) This would not be applicable in self write off cases.

Bank directions to be read by each Exporter in India

Banking regulations on Exports and Imports in India

Exporting  to India?  Click here to read Bank process in India

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