RBI SHOULD RECONSIDER PROVISIONS OF MASTER CIRCULAR ON EXPORT OF GOODS AND SERVICES

摘要

The Reserve Bank of India (RBI) needs to revisit certain provisions in its Master Circular on Export of Goods and Services, so as to make them more exporter-friendly. The provision relating to opening warehouses abroad says that banks may consider the applications received from exporters and grant permission for opening/hiring warehouses abroad provided the applicant's export outstanding does not exceed five per cent of exports made during the previous financial year.