RBI NEW RULE IN FEMA: RBI Governor giving information about the policy decisions, said that RBI is going to bring guidelines on import-export rules soon. All the small businessmen will get the benefit of this.  He said that import, and export rules will be easy under FEMA.

Let us tell you that the Federation of Indian Exporters Organization (FIO), an organization of Indian exporters, demands that the Reserve Bank of India (RBI) fix a certain amount to give loans to the priority sector for export to help deal with the challenges coming in global business.

What will happen next

Things are constantly changing in the international market. In such a situation, necessary steps will have to be taken to promote the export of domestic businessmen.

That is why RBI is going to bring new guidelines keeping in mind the foreign exchange rules. This decision will make exports and imports more rational.

There is a proposal to bring new guidelines to the existing FEMA rules on export and import. This will promote ease of doing business and authorized dealer banks will be asked to provide new facilities.

Doing well in exports

Due to the low trade deficit, strong service exports, and good remittances, the country’s current account deficit is expected to remain low. In the service sector, there may be good growth mainly in software exports, exports of other services, and travel exports.

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