Current account liberalisation: removal of prior approval for specified resident remittances, empowering authorised dealers to allow transactions. The circular liberalises current account transactions by removing specified government and RBI prior-approval requirements and empowering Authorised Dealers to permit a range of resident remittances, including overseas health insurance, artiste fees, agent commissions within transactional limits, short-term credit to overseas offices, advertisement payments, royalty and lump-sum technical-fee remittances subject to existing ceilings, and use-of-trademark/franchise payments while retaining approval for trademark purchase; transponder hiring approval is reassigned to the Ministry of Information & Broadcasting.
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Current account liberalisation: removal of prior approval for specified resident remittances, empowering authorised dealers to allow transactions.
The circular liberalises current account transactions by removing specified government and RBI prior-approval requirements and empowering Authorised Dealers to permit a range of resident remittances, including overseas health insurance, artiste fees, agent commissions within transactional limits, short-term credit to overseas offices, advertisement payments, royalty and lump-sum technical-fee remittances subject to existing ceilings, and use-of-trademark/franchise payments while retaining approval for trademark purchase; transponder hiring approval is reassigned to the Ministry of Information & Broadcasting.
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