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of <h1>RBI Allows Exporters to Ship Books on Consignment; Proceeds Realizable in 360 Days Under FEMA 1999.</h1> The Reserve Bank of India has issued a circular to authorized dealers in foreign exchange, allowing them to approve proposals for exporting books on a consignment basis. Exporters can now realize export proceeds within 360 days from the shipment date. Unsold books at the end of the sale contract period can be abandoned, with their value deducted from the export proceeds in the Account Sales. This circular aims to liberalize the export procedure for books and is issued under the Foreign Exchange Management Act, 1999. Authorized dealers are instructed to inform relevant parties of these changes.
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