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Liberalisations in Project and Service Exports
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.... Madam / Sir, Liberalisations in Project and Service Exports Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Regulation 18 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 notified vide Notification No. FEMA 23/2000-RB dated 3rd May 2000, as amended from time to time and the Memorandum of Instructions on Project & Service Expor....
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....should be recovered from the project to which equipment / machinery has been transferred. On a review, the stipulation regarding recovery of market value (not less than book value) of the machinery, etc., from the transferee project is withdrawn with immediate effect. Further, exporters may use the machinery / equipment for performing any other contract secured by them in any country subject to....
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....ion of re-transfer of the fund to the lending project as soon as possible. It has now been decided that, henceforth, AD Category - I bank(s) / Exim Bank / Working Group may permit exporters to open, maintain and operate one or more foreign currency account/s in a currency/currencies of their choice with inter-project transferability of funds in any currency or country. The Inter-project transfe....