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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Circular: Dealers Need Approval for Foreign TV Ad Remittance if Export Earnings Under Rs. 10 Lakh.</h1> The Reserve Bank of India issued a circular to authorized dealers in foreign exchange regarding remittances for advertisements on foreign television. It states that prior approval is required for remittance if an exporter's earnings are less than Rs. 10 lakhs in each of the preceding two years, unless paid from their EEFC account. Authorized dealers must obtain a Chartered Accountant's certificate confirming the export earnings criteria and that the advertisement will be broadcast abroad. These directives are issued under the Foreign Exchange Management Act, 1999.
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