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of <h1>RBI Updates Merchanting Trade Guidelines: New Compliance Rules for Authorized Dealer Banks and Traders.</h1> The circular issued by the Reserve Bank of India provides revised guidelines for merchanting trade transactions, effective immediately. Authorized Dealer Category-I banks must ensure that goods involved are permitted under India's Foreign Trade Policy and comply with relevant export and import regulations. Both transaction legs must be routed through the same bank, completed within nine months, and foreign exchange outlay should not exceed four months. Banks are to verify transaction documents, ensure one-to-one matching, and report defaults. Genuine traders must receive confirmed orders from overseas buyers, and transactions should result in reasonable profits. Specific remittance procedures and reporting codes are outlined for compliance.
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