RBI offers greater flexibility on ‘write-off’ of unrealized export bills

As announced in Statement on Development and Regulatory Polices dated December 4, 2020, RBI revised extant procedure and delegates the grater flexibility to AD banks in respect of “write-off” of unrealized export bills. The exporter other than the Status Holder Exporter may self-write off 5% of total export proceeds realized during the calendar year proceeding…