Topic
fema
FEMA rules revision: Exporters flag at least half-a-dozen worries in RBI meeting
Exporters flagged several concerns regarding the proposed FEMA rules revision during a meeting with RBI Governor Sanjay Malhotra. Issues include a 14% contraction in priority sector export credit, a proposed provision restricting future exports on unrealized proceeds, and lack of clarity on merchanting trade and EDPMS for sanctioned markets. RBI indicated receptiveness to suggestions.
Exporters Flag Half-a-Dozen Concerns Over Revised FEMA Rules; RBI Considering Proposals
Exporters have flagged at least half-a-dozen concerns regarding revised Foreign Exchange Management Act (FEMA) rules that take effect later this year, with the Reserve Bank of India (RBI) considering several proposals favourably. Key issues include a 14% fall in priority sector export credit, restrictive export realisation provisions, and difficulties with merchanting trade and EDPMS platforms.