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of <h1>Master Circular Streamlines Export Regulations for Goods & Services under FEMA 1999 for Indian Banks.</h1> The Master Circular on Export of Goods and Services consolidates the existing guidelines and regulations related to the export of goods and services from India under the Foreign Exchange Management Act, 1999. It provides comprehensive instructions to Authorised Dealer Category - I banks regarding export transactions, including exemptions, receipt and payment methods, realization and repatriation of export proceeds, and the management of foreign currency accounts. The circular also covers operational guidelines for banks, such as handling export bills, managing overdue payments, and procedures for export on consignment basis. Additionally, it addresses specific export scenarios, such as exports to neighboring countries, project exports, and the export of goods by Special Economic Zones.
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