Export of Goods and Services -
Facilities to Status Holder Exporters
A.P.(DIR Series) Circular No.35 (April 01, 2002)
RESERVE BANK OF INDIA A.P.(DIR Series) Circular No.35 April 01, 2002 To All Authorised Dealers in Foreign Exchange Madam /Sirs, Export of Goods and Services - Attention of authorised dealers is invited to A.P. (DIR Series) Circular No. 12 dated September 9, 2000, containing directions regarding Export of Goods and Services. 2. With a view to simplifying the procedures regarding exports, it has been decided to extend the following facilities to the exporters with proven track record who have been certified as "Status Holder Exporters" in terms of the EXIM Policy : -
In terms of the second proviso made to Regulation 9 of Notification No.FEMA 23/2000-RB dated May 3, 2000,the Reserve Bank has been empowered to extend the period of six months for realisation and repatriation of export proceeds to India. It has now been decided that the exporters with proven track record who have been certified as "Status Holder" in terms of the EXIM Policy, realise and repatriate the full value of export proceeds within a period of twelve months from the date of shipment. These facilities will be available in respect of the shipment made on or after April 1, 2002. 3. Necessary amendments to the Foreign Exchange Management Regulations are being notified separately. 4. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 5.The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager |
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