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of <h1>New Guidelines for Merchanting Trade Transactions: Key Rules for Banks on Compliance and Reporting.</h1> The circular outlines revised guidelines for Merchanting Trade Transactions (MTT) applicable to Authorised Dealer Category-I banks. Key points include: goods acquired for merchanting trade must not enter the Domestic Tariff Area; compliance with Foreign Trade Policy for exports/imports is mandatory; transactions must be completed within nine months with no foreign exchange outlay beyond four months; and banks must ensure the authenticity of transactions, adhering to KYC and AML guidelines. Third-party payments and agency commissions are generally prohibited, with exceptions under specific conditions. Banks are required to report defaults and adhere to reporting codes under FETERS.
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