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of <h1>DGFT Issues New Guidelines for Monitoring and Revalidating Bank Guarantees; RAs Must Update Monthly and Act Pre-Expiry.</h1> The Directorate General of Foreign Trade (DGFT) has issued guidelines for monitoring and revalidating Bank Guarantees (BGs). Banks have reported expired or soon-to-expire BGs without communication from DGFT on whether to release, redeem, enforce, or extend them. Regional Authorities (RAs) are responsible for monitoring BGs and must update the BG Register monthly. They should ensure BGs are properly recorded and take necessary actions three months before expiry. Decisions on enforcement or extension must be made by the Head of the Office due to revenue implications. This directive is approved by the competent authority.
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