FEDAI RULEs related to export transactions

The revised FEDAI Rules (10th edition) for export transactions came in to force with effect from 01 April 2019. The FEDAI rule 2.1 deals with Post shipment Credit in Rupees, Application of Interest, Normal Transit Period, Substitution/Change in Tenor, and Export Bills sent for collection. Post shipment credit in Rupees:The exchange rate for post-shipment Foreign…

What is the Gold Card Scheme for exporters?

On June 27, 2019, Reserve Bank of India notified all the banks (SCBs, SBs, LABs), excluding RRBs that the RBI is receiving complaints from exporters and their Associations that the banks are not extending the benefits under the Gold Card Scheme as per extant instructions. The Central bank therefore reiterated that the instructions relating to…