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of <h1>Remittances for overseas ICC equipment by Indian BPOs allowed subject to approvals, bank scrutiny, direct supplier payment and CEO/auditor certificate</h1> Permits AD Category-I banks to authorize remittances by Indian BPOs for purchase and installation of equipment at overseas International Call Centre sites, removing the prior requirement to produce domestic Bill of Entry; this allows payment for equipment installed abroad. Such remittances must be predicated on (a) the importer having necessary governmental approvals for establishing the ICC, with the operative effect that absence of approvals precludes the remittance, (b) the AD Category-I bank's commercial judgment and strict contractual conformity, with the operative effect that banks may refuse payments they deem non-bona fide, and (c) payment directly to the overseas supplier's account, with the operative effect that intermediary routing is disallowed. Banks must obtain a CEO or auditor certificate confirming import and installation abroad.
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