Wednesday, July 24, 2024

RBI easing FEMA guidelines to facilitate overseas trade


Share post:



Mumbai, June 7: Reserve Bank of India (RBI) has decided to rationalise existing guidelines on the export and import of goods and services in line with the changing dynamics of cross-border trade transactions globally.

RBI Governor Shaktkanta Das said that the decision has been taken in view of progressive liberalisation under FEMA 1999 which will impart greater operational flexibility to Authorized Dealer banks.

Das said that the proposed rationalisation aims to simplify operational procedures thereby promoting ease of doing business for all the stakeholders.

The draft regulations and directions would be placed on the RBI’s website by the end of June 2024, for feedback from all the stakeholders before they are finalised, Das said.



Related articles

Lauded in France, Rapture struggles for space at home

SHILLONG, July 23: National award-winning filmmaker Dominic Megam Sangma is struggling to screen his film Rapture in Meghalaya,...

Budget has nothing for NE: Pala

SHILLONG, July 23: Meghalaya Pradesh Congress Committee president, Vincent H Pala on Tuesday expressed unhappiness with the Union...

‘Growth-oriented’ budget gets a thumbs up from state govt

SHILLONG, July 23: The state government has hailed the Union budget, terming it as growth-oriented with special focus...

Pala blames MDA’s ‘corrupt ways’ for exodus of labourers

SHILLONG, July 23: The Congress on Tuesday held the NPP-led ruling MDA and its “corrupt ways” responsible for...