Inter-project transferability of funds expanded for project and service exporters under authorised dealer monitoring, and temporary cash surplus deployment permitted Inter-project transfers of machinery for turnkey and construction contracts are permitted without mandatory recovery of market or book value, subject to reporting and monitoring by the sponsoring authorised dealer bank, Exim Bank or Working Group. Exporters may open and operate one or more foreign currency accounts with inter-project transferability of funds in any currency or country, and may deploy temporary cash surpluses abroad in specified short-term instruments and deposits with overseas branches/subsidiaries of authorised dealer banks, all under monitoring by the authorised dealer bank(s)/Exim Bank/Working Group.
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Provisions expressly mentioned in the judgment/order text.
Inter-project transferability of funds expanded for project and service exporters under authorised dealer monitoring, and temporary cash surplus deployment permitted
Inter-project transfers of machinery for turnkey and construction contracts are permitted without mandatory recovery of market or book value, subject to reporting and monitoring by the sponsoring authorised dealer bank, Exim Bank or Working Group. Exporters may open and operate one or more foreign currency accounts with inter-project transferability of funds in any currency or country, and may deploy temporary cash surpluses abroad in specified short-term instruments and deposits with overseas branches/subsidiaries of authorised dealer banks, all under monitoring by the authorised dealer bank(s)/Exim Bank/Working Group.
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