Mumbai, Oct 04: Reserve Bank of India on Friday said that authorised foreign exchange dealers can now approve proposals for realisation of export proceeds up to 360 days for books shipped abroad on consignment basis. The exporters could also be allowed to abandon the books which remain unsold at the expiry of sales contract period, RBI said in a communication to authorised dealers.
Accordingly, exporters can show the value of the unsold books as deduction from the export proceeds in the account sales, it said. Bureau Report