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Central Bank simplifies export norms

Date 24-July-2014
Subject Central Bank simplifies export norms

New Delhi : The Reserve Bank of India (RBI) said that banks and Exim bank can consider giving post award approvals without any monetary limit in a bid to liberalize and simplify the procedure for export of goods and services - project exports.

Earlier, permission from the working group consisting of Exim Bank, Export Credit Guarantee Corporation and RBI, was required for the project exports proposals for contracts over $100 million.

Source : dailyshippingtimes.com

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