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Introducing the “In Favour Of” filter in Case Laws.
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<h1>Advance remittances for admissible current account services: threshold raised to USD 100,000; guarantees required above limit</h1> Authorized dealers may permit advance remittances for admissible current account services up to USD 100,000 (or equivalent) without prior regulatory approval, increasing the prior USD 25,000 threshold; where the advance exceeds USD 100,000, the overseas beneficiary must provide a guarantee from a bank of international repute or an authorised dealer's guarantee backed by such an overseas bank's counter-guarantee, and the authorised dealer must monitor performance of the beneficiary's contractual obligations and ensure repatriation of funds to India if obligations are not fulfilled.