Discontinuation of Reporting of Bank Guarantee on behalf of service importers

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Full Text of the Document

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....ra no. 5 of the Master Direction No.8 dated January 01, 2016 on 'Other Remittance Facilities' in terms of which, AD Category-I banks were permitted to issue guarantees in favour of a non-resident service provider on behalf of their resident customers importing services, subject to the conditions laid therein. AD Category-I banks were also advised vide para no.1, Part X of the Master Direction on '....