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Permitted Methods : Export payment must be received in a currency appropriate to the country of final place of destination of the goods as declared on GR. etc., forms. Reserve Rank has granted permission for receiving payments for exports directly by exporters from their buyers in certain conditions.
Authorised dealers should receive remitlances from foreign countries (other than Nepal and Bhutan) or obtain reimburseme from their branches and correspondents in these countries against payments due for exports from India. The other payments receivables should also conform these methods of payment indicated below:
i) All countries other than member countries in the Asian Clearing Union (except Nepal), Bangladesh, Myanmar Islamic, Republic of Iran, Pakistan and Sri Lanka : Payment may be received in rupees fiom the account of a bank situated in any country in this group or payment may be received in any permitted currency.
ii) Remember countries in the Asian Clearing Union (except Nepal), Bangladesh, Myanmar Islamic, Republic of Iran, Pakistan and Sri Lanka : payment may be received for all eligible current transactions of debit to the ACU (Asian Clearing Union) dollar account in India of a bank of the participating country in which the other party to the transaction is resident, or by credit to the ACU dollar account of the authorised dealer maintained with the correspondent bank in the other participating country. In other cases payment may be received in any permitted currency.
Definition of Exchange Rate : A foreign exchange rate is simply the price of one country's money in terms of another country's money. In other words, the rate at which one country
Q. How do customers buy? Research advised that customers go through a five-stage decision-making process in any purchase. This is précised in the diagram below: This mo
Realisation of Export Proceeds: If an exporter does not realise the export proceeds within the time specified by the Reserve Bank of India, he shall be liable to action in accorda
DEFERRED CREDIT FACILITIES : Export of goods on deferred payment terms can be financed under suppliers credit or Buyer'$ credit. Let us first understand what they are. Supplie
Q. Concept of problem recognition search and evaluation? Ans: Problem Recognition. One model of consumer decision making occupy several steps. The initial one is problem rec
Question 1: The product manager when introducing a new product wants the product to enjoy a long and happy life. (a) How will the ‘life' of a product be conceptually analyse
NATURE OF EXPORT SALES CONTRACT: Contract is a legal concept. It has been defined in the Section 2(h) of the Indian Contract Act, the other party without any qualification. This p
wholesaling strategy
What are responses of researcher When responses are missing or inappropriate, researcher has three choices: (a) Researcher can sometimes detect proper answer by reviewing t
Legal Perspective : Besides commercial necessity, documents for exports have a legal perspective. All over the world, laws regulating export-import trade as we11 as movement of fo
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