Third-party payments allowed for exports and imports; banks may permit them subject to exporter declaration and RBI conditions. Amendment permits Authorized Dealer Category-1 banks to accept export proceeds from a third party if the exporter declares that third party in the export declaration form and other RBI-prescribed conditions are met, and allows AD Category-1 banks to make import payments to a third party subject to conditions specified by the Reserve Bank of India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Third-party payments allowed for exports and imports; banks may permit them subject to exporter declaration and RBI conditions.
Amendment permits Authorized Dealer Category-1 banks to accept export proceeds from a third party if the exporter declares that third party in the export declaration form and other RBI-prescribed conditions are met, and allows AD Category-1 banks to make import payments to a third party subject to conditions specified by the Reserve Bank of India.
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