2.57

Offsetting of Export Proceeds

Subject to specific approval of RBI, any payables, or equity investment made by an Autorisation holder under any export promotion scheme, can be used to offset receipts of his export proceeds. In such cases, offsetting would be equal to realisation of export proceeds and exporter would have to submit following additional documents:

a) Appendix-22D in lieu of Bank Realisation Certificate.

b) Specific permission of RBI.