RBI permits banks to Set-off of Export receivables against Import payables

RBI permits AD banks to Set-off outstanding export receivables against outstanding import payables from/to the same overseas buyer/supplier. In the Statement on Development and Regulatory Policies dated December 4, 2020, RBI announced greater flexibility to AD banks in the areas like Direct Dispatch of Shipping Documents, / “Write-off” of unrealized export bills,/ Refund of Export…