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of <h1>Advance remittance limit for import of services raised from USD100,000 to USD500,000; PSUs and government units excluded</h1> Advance remittance limit for import of services without bank guarantee has been increased from USD 100,000 to USD 500,000 for admissible current account transactions, permitting Authorised Dealer Category-I banks to accept such remittances up to USD 500,000 without requiring a bank guarantee; this increase expressly excludes Public Sector Companies and Departments/Undertakings of the Central or State Governments, which continue to require prior approval of the Ministry of Finance (MoF) for advance remittances exceeding USD 100,000; all other terms and conditions of the earlier circular remain unchanged.
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