RBI’s Draft Trading Norms Provide More Freedom for ADs | Expert Views

The Reserve Bank of India (RBI) last Tuesday posted on its website the draft of new regulations and guidelines for export and import of goods and services, which will come into effect later, with amendments, if any, to be made based on feedback received from exporters, importers and authorised dealer (AD) banks.

At first glance, the brevity of the proposed regulations and guidelines is striking. The draft regulation (872 words) is less than one-fourth of the current export rules (3,700 words). The proposed export and import guidelines for AD (2,284 words) are about one-twelfth

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