Try GOLD - Free
RBI seeks easier write-off norms after ED notices to exporters
Mint Mumbai
|June 22, 2023
The Reserve Bank of India (RBI) has recommended that the central government relax write-off norms related to unpaid receivables of exporters after notices by a law enforcement agency spooked exporters, two people with direct knowledge of the matter said
RBI seeks to address exporters’ concerns after several of them received Enforcement Directorate (ED) notices for alleged violation of foreign exchange norms, the people cited above said, requesting anonymity. Many Indian companies have unrecovered dues from their exports.
RBI’s master directions on the export of goods stipulate how such dues must be written off. According to the rules, any dues up to 5% of the total export proceeds of a company can be written off by the company itself.
If the dues exceed this threshold, then it would have to be written off by the authorized dealer (AD) bank. In both scenarios, the exporter is required to submit supporting evidence to AD bank, which proves that the company has exhausted all recovery options.
This story is from the June 22, 2023 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
Kuku FM looks to raise up to $80 mn
Audio streaming platform Kuku FM has signed a term sheet to raise about $70-80 million in new funding, with South Korean-based video game publisher Krafton leading the round alongside existing investors, three people familiar with the matters said.
1 min
October 04, 2025
Mint Mumbai
Draft gaming rules trigger pushback from stakeholders
India’s beleaguered online real-money gaming industry stakeholders have questioned what they call ambiguities in the draft rules of the law that ban any game involving financial winnings.
1 mins
October 04, 2025
Mint Mumbai
Delhi, TN, Maha lead e-bus sales surge in H1
Govt incentives, charging infrastructure also fuel e-bus demand in Odisha
2 mins
October 04, 2025
Mint Mumbai
‘25% tests positive for H3N2’
Is flu rampant at your home and neighbourhood? You are not alone. India is witnessing a surge in influenza cases this year with data from hospitals across the country showing that one in four people sampled have tested positive for the virus.
1 min
October 04, 2025
Mint Mumbai
ALL YOU KNEAD
AS PEOPLE MAKE HEALTHIER CHOICES, DAILY BREAD IS NO LONGER JUST WHITE AND SLICED BUT ARTISANAL, SMALL-BATCH AND MADE-TO-ORDER. IN RESTAURANTS, TOO, IT HAS RISEN FROM FILLER TO MAIN ACT
1 min
October 04, 2025
Mint Mumbai
Zubeen Garg: Assam's first true rock star
The singer-songwriter has thousands of hits in different languages but it was his irreverence that gave him god-like status in a community starved of icons
7 mins
October 04, 2025
Mint Mumbai
A case for loafing about
Taylor Swift apparently spends 60% of her time talking about bread (\"it's a loaf story,\" to quote her)—as I learnt from a reel I came across while trying to avoid getting down to the real work of the day (or should I say loafing about)—and it made me wonder when we became so obsessed about what came out of a packet and was eaten when we were sick.
1 mins
October 04, 2025
Mint Mumbai
A Viagra-popping inspector meets his nemesis
Saharu Nusaiba Kannanari’s new novel is a sharp indictment of caste and gender politics in Kerala's society
4 mins
October 04, 2025
Mint Mumbai
Margin trades soar amid weak returns
Trump. Overthe past year, the benchmark index has declined 1.4%.
1 mins
October 04, 2025
Mint Mumbai
L’Oréal board in India next week
The board of French cosmetics giant L’Oréal, the world’s largest beauty group, will visit India next week to explore opportunities in one of the fastest-growing beauty markets. The first such visit comes amid recent management changes at the Indian arm of the Maybelline lipstick maker.
1 min
October 04, 2025
Translate
Change font size