PXL/HO/Cir-012/2017-18                                                                                             16.05.2017

Hyderabad

Dear Sir / Madam,

We would like to inform the members that there was a meeting convened recently chaired by Secretary, Department of Commerce, Govt. of India, where officials from RBI, DGFT, IBA, FIEO, EPCs etc., have participated, to discuss about various banking related problems faced by the exporters.  Following points were discussed and some important decisions were taken during the meeting:

a) Caution list of Exporters by RBI for non-closure  of Export Realizations

b) Dispensing with requirement of Shipping Bill for negotiation of Export Documents

c) Third Party / Third country payments for exports

d) Non-negotiation of documents of shipments transited through Iran

e) Non-handling of export documents pertaining to Sudan and OFAC sanctioned countries

f) Capitalization of export realizations

We enclose herewith minutes of the meeting, where details of above discussions and decisions are available.  Members may bring such issues to our notice for taking up with the concerned departments.

With regards

Udaya Bhaskar