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of <h1>Closure of long-outstanding export bills by AD Category-I banks-one-time authorization with exclusions and reporting requirement</h1> Authorizes AD Category-I banks to effect a one-time closure of specified long-outstanding export bills, subject to exclusions for matters pending in civil/criminal proceedings or where the exporter is under adverse notice by law-enforcement agencies; bills eligible are (a) those outstanding >15 years and = USD 100,000 as of 31-12-2012, and (b) those outstanding >5 years and = USD 50,000 as of 31-12-2012 where the customer is untraceable with competent-authority proof and bank board-approved policy. Banks must submit closed-case data in the prescribed Excel format to the concerned Regional Office; closed bills will no longer be pursued by ADs nor reported in future XOS.
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