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Our Bureau

Mumbai , Feb 24

THE Reserve Bank of India has further liberalised certain current account transactions, by allowing authorised dealers some categories of remittances in terms of the Foreign Exchange Management Act 2000, without having to obtain prior permission.

The categories of remittances eligible under this liberalisation, include, remittance by artistes, commission to agents abroad for the sale of residential plots for amounts up to $ 25,000 or 5 per cent of the inward remittance, whichever is higher and short terms credit to overseas offices of Indian companies, according to an RBI press release.

The relaxation will also be applicable for remittance for ads on foreign television where export earnings are less than Rs 10 lakh.

More Stories on : RBI & Other Central Banks | Forex

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