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of <h1>RBI Circular Eases Import Payment Limits to $100,000 for Indian Entities Under FEMA 1999.</h1> The Reserve Bank of India issued a circular on February 6, 2004, to liberalize the import procedure under the Foreign Exchange Management Act, 1999. The circular allows authorized dealers to remit payments for import bills/documents directly received by importers from overseas suppliers, increasing the limit from USD 10,000 and USD 25,000 to a uniform USD 100,000. This applies to various entities, including wholly-owned Indian subsidiaries of foreign companies, trading houses, export-oriented units, public sector undertakings, and limited companies. Authorized dealers must ensure the financial standing and track record of importers before extending this facility.
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