Automatic approval for foreign royalty and technology payments permitted, subject to foreign exchange rules and post-reporting.
Policy permits automatic approval for royalties, lump sum technology fees, and payments for use of trademarks/brand names under foreign technology collaborations, subject to Foreign Exchange Management (Current Account Transactions) Rules and any amendments; a post reporting system for such transfers and use will be notified. The change modifies and supersedes specified earlier press notes that had imposed limits or prior approval requirements.