“Set-off” of export receivables against import payables- Liberalization of Procedure.

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..... Dealer Category I (AD Category I) banks is invited to the fact that the requests received from the exporters through their AD branches for set-off of export receivables against import payables are considered by the Reserve Bank of India. As a measure of further liberalization, it has been decided to delegate power to AD Category I banks to deal with the cases of set-off of export receivab .....

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..... ctions with ACU countries should be kept outside the arrangement. All the relevant documents are submitted to the concerned AD bank who should comply with all the regulatory requirements relating to the transactions. 2. AD Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 3. The directions contained in this circula .....

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