https://www.taxtmi.com/circulars?id=1847 Permission is granted for counter-trade arrangements between Indian and Romanian parties permitting exports to precede imports and allowing Indian exporters to open U.S. Dollar Escrow Accounts with banks in Romania, provided funds credited to those accounts are used for imports from Romania into India within six months; authorised dealers must forward proposals to the Reserve Bank regional office and monitor escrow transactions through a mirror account, and the directions are issued under FEMA with penalties for non-observance. en-us Mon, 27 Aug 2001 00:00:00 +0530 Wed, 18 Feb 2026 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1847 Permission is granted for counter-trade arrangements between Indian and Romanian parties permitting exports to precede imports and allowing Indian exporters to open U.S. Dollar Escrow Accounts with banks in Romania, provided funds credited to those accounts are used for imports from Romania into India within six months; authorised dealers must forward proposals to the Reserve Bank regional office and monitor escrow transactions through a mirror account, and the directions are issued under FEMA with penalties for non-observance. Circulars FEMA Mon, 27 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1847