November 20, 2014 / 11:43 AM / 3 years ago

RBI reduces repatriation time of export proceeds to 9 months from 12

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai October 29, 2013.Danish Siddiqui/Files

MUMBAI (Reuters) - The Reserve Bank of India said on Thursday the time by which exporters can repatriate the full value of goods and services has been reduced to nine months from 12 from the date of export.

The rule will be applicable to all exporters, including units in special economic zones, export-oriented units, the RBI said.

Reporting by Suvashree Dey Choudhury; Editing by Subhranshu Sahu

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