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A committee has been set up to look into specific issues relating to software exports, which is expected to come out with its recommendations by end-September.
“We will come out with viable solutions that will make things easy for the software exporters,” said the Reserve Bank of India Executive Director, Mr G. Padmanabhan, at an interface with bankers on foreign exchange held here on Thursday.
Speaking at the event, he pointed out that there was a need to take a re-look at the various rules and regulations with regard to foreign exchange in the light of developments in the last 10 years.
“We are aware that we should not make rules and regulations impossible to comply with,” he said.
Awareness drive
The RBI, on its part, has opened a helpdesk, been updating FAQs, and conducting awareness programmes on foreign exchange, said Mr Padmanabhan, and urged banks to also train their frontline staff adequately on matters relating to foreign exchange.
Mr Padmanabhan also emphasised the need for people to exercise caution with regard to schemes announced via e-mails, and said that the RBI was taking enough measures to create awareness on phishing activities.
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