Closing of old export bills permitted as a one time regulatory measure, subject to eligibility, non suit, and reporting requirements. Authorized Dealer Category I banks may close certain long outstanding export bills as a one time measure if the case has no pending civil or criminal suit, the exporter is not under adverse notice by enforcement agencies, there are no externalisation issues, and the bill meets prescribed vintage and ceiling criteria; untraceable customers require proof of non traceability and adherence to the bank's board approved policy. Closed cases must be reported to the Reserve Bank's Regional Offices in the annexed Excel format and will be excluded from future Export Outstanding Statements.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Closing of old export bills permitted as a one time regulatory measure, subject to eligibility, non suit, and reporting requirements.
Authorized Dealer Category I banks may close certain long outstanding export bills as a one time measure if the case has no pending civil or criminal suit, the exporter is not under adverse notice by enforcement agencies, there are no externalisation issues, and the bill meets prescribed vintage and ceiling criteria; untraceable customers require proof of non traceability and adherence to the bank's board approved policy. Closed cases must be reported to the Reserve Bank's Regional Offices in the annexed Excel format and will be excluded from future Export Outstanding Statements.
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