Raft Of Forex Norms Eased
The Reserve Bank of India (RBI) yesterday notified a slew of changes in foreign exchange remittance norms liberalising the existing forex regulations.
Remittance exceeding $100,000 per project for any consultancy services procured from outside India will not require the prior approval of the RBI any more even though such remittance are made out of the funds held in Exchange Earners