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May 22, 2015
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RBI eases remittance, ECB norms
In a step towards liberalising the country’s external sector, the Reserve Bank of India announced two measures that would enable higher remittances and also ease the process of raising funds through external commercial borrowings (ECB).The RBI trebled the limit on trade-linked remittances to R15 lakh from the earlier R5 lakh and said banks can regularise payments exceeding the limit if they are satisfied with the bonafide of the transaction.
Source -
http://www.financialexpress.com
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