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Export realisation timeline extended for specified jurisdictions; exporters must thereafter realise full proceeds within the prescribed period. The Reserve Bank authorised a one year extension of the temporary facility permitting exporters to the listed jurisdictions to realise and repatriate full export proceeds within 360 days of shipment; authorised dealers must inform constituents. After the extension period, exporters must realise full proceeds within the standard six month period. The directions are issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999, and the annexure lists the jurisdictions covered by the temporary facility.
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Export realisation timeline extended for specified jurisdictions; exporters must thereafter realise full proceeds within the prescribed period.
The Reserve Bank authorised a one year extension of the temporary facility permitting exporters to the listed jurisdictions to realise and repatriate full export proceeds within 360 days of shipment; authorised dealers must inform constituents. After the extension period, exporters must realise full proceeds within the standard six month period. The directions are issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999, and the annexure lists the jurisdictions covered by the temporary facility.
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