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RBI’s Statement on Development and Regulatory Polices
RBI released Bi-monthly Monetary Policy Statement dated December 4, 2020 including Statement on Development and Regulatory Polices with a view to further enhance the ease of doing business and quicken the approval process.
It has been decided to delegate more powers to the Authorised Dealer Category – I banks (AD banks). Like Direct Dispatch of Shipping Documents, “Write-off” of unrealized Export bills, Set-off of Export receivables against Import payables and Refund of Export Proceeds.
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