RBI increases trade remittance limit to Rs 5 lakh: Report

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RBI increases trade remittance limit to Rs 5 lakh: Report
RBI hiked the trade related remittance limit from Rs 2 lakh to Rs 5 lakh per transaction, amid increased number of transactions handled by Exchange Houses, reported PTI.

"On a review of the permitted transactions under the Rupee Drawing Arrangements (RDAs), it has been decided to increase the limit of trade transactions from the existing Rs 2 lakh per transaction to Rs 5 lakh per transaction, with immediate effect," the Reserve Bank said.

For this necessary changes have been made in Memorandum of Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro Accounts of Non-resident Exchange Houses.

Read more about: rbi
Story first published: Friday, March 14, 2014, 9:20 [IST]
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