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of <h1>RBI Eases Export Rules: Dealers Can Approve Caution-Listed Exporters with Advance Payment or Letter of Credit Evidence.</h1> The Reserve Bank of India has issued a circular to all authorized dealers in foreign exchange regarding the liberalization of export procedures. The circular modifies previous restrictions, allowing authorized dealers to approve export declarations from caution-listed exporters if they present evidence of advance payment or a valid irrevocable letter of credit covering the full export value. This approval can extend to cases involving usance bills, provided they mature within six months from shipment. The changes are in accordance with amendments to the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, and are issued under specific sections of the Foreign Exchange Management Act, 1999.
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