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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>RBI Amends Forex Regulations: Interest on Advance Payments Capped at 100 Basis Points Above LIBOR.</h1> The Reserve Bank of India issued an amendment to the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, effective from its publication date in the Official Gazette. The amendment modifies Regulation 15, sub-regulation 1, clause (ii), stipulating that the interest rate on advance payments must not exceed 100 basis points above the London Inter-Bank Offered Rate (LIBOR) or another applicable benchmark as directed by the Reserve Bank. This change is part of a series of amendments to the original 2015 regulations, which were previously updated in 2017, 2019, 2020, and January 2021.
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