RBI Eases Import Rules for Shipping Vessels

  Published 1 year ago

RBI allows importers to remit up to $50M for shipping vessels without bank guarantees or LCs, easing business constraints.

  • Importers can now send advance payments for ships up to $50 million without bank guarantees.
  • The policy aims to boost the ease of doing business by addressing sector-specific import hurdles.
  • Remittances must comply with the RBI conditions outlined in the latest notification.

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