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of <h1>RBI adds flexibility for export payment methods through new sub-regulation allowing alternative receipt modes per central bank directions</h1> The Reserve Bank of India issued the Foreign Exchange Management (Manner of Receipt and Payment) (Second Amendment) Regulations, 2013, effective from publication date. The amendment adds a new sub-regulation (3) to Regulation 3 of the principal regulations, allowing 'any other mode of receipt of export proceeds for an export from India in accordance with the directions issued by the Reserve Bank of India to authorized dealers from time to time.' This provides additional flexibility for receiving export proceeds beyond existing prescribed methods.
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