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EXCHANGE POLICY DEPARTMENT - 2008 |
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| EPD
Circular Letter No. 06 |
July
11, 2008 |
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| Realization
of Overdue Export Proceeds |
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| Attention
of Authorized Dealers is invited to provisions of
Foreign Exchange Regulation Act 1947 and State Bank’s
rules & regulations governing timely realization
of export proceeds as contained in various paras
of Chapter XII of FE Manual, 2002 (8th Edition)
and amended from time to time. |
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has, however, been observed that despite State Bank’s
clear instructions, a substantial amount of export
proceeds are overdue which has been viewed seriously.
Since, in terms of related instructions and undertaking
on ‘E’- Form, the Authorized Dealers
are also bound to ensure repatriation of proceeds
on due date, they are advised to immediately launch
campaign for realization of overdue export proceeds.
Authorized Dealers are further advised to submit
within a week of issuance of this letter a progress
report in this respect. |
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