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No.14/005/050/2003
Jan 6, 2003
Members of the Council
Dear Members,
We forward herewith the following two circulars recently issued by the Reserve Bank of India, Exchange Control Department, Mumbai, as detailed below:
1. RBI AP (DIR Series) Circular No.61 dated Dec 14, 2002
regarding ‘write-off’ of un-realized export bills annually up-to 5% of average annual realization to status holders exporters – surrender of export incentives.
2. RBI AP (DIR Series) Circular No.62 dated Dec 17, 2002 in connection with foreign exchange earned by DTA units for supply of goods to SEZ units and credit of the same to Exchange Earner’s Foreign Currently (EEFC) account of DTA unit.
This is for your information, reference and necessary guidance
Thanking you,
Yours faithfully,
K Abdul Sattar Khan
Assistant Director
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