“Set-off” of export receivables against import payables- Liberalization of Procedure.

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..../Sir, "Set-off" of export receivables against import payables- Liberalization of Procedure Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the fact that the requests received from the exporters through their AD branches for set-off of export receivables against import payables are considered by the Reserve Bank of India. As a measure of further liberaliza....

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....off" of export receivables against import payments should be in respect of the same overseas buyer and supplier and that consent for "set-off" has been obtained from him. • The export / import transactions with ACU countries should be  kept outside the arrangement. • All the relevant documents are submitted to the concerned AD  bank who should comply with all th....