Reserve bank of India vide press release dated April 1, 2020, has issued further measures to help the state governments as well as exporters to combat the Covid 19 pandemic outbreak.
The following are the measures announced by RBI :
- The time period for realization and repatriation of export proceeds for exports made up to or on July 31, 2020, has been extended from 9 months to 15 months from the date of export.
- To increase the Ways and Means limits by 30 percent from the existing limit for all States/UTs.
- The framework on countercyclical capital buffer (CCyB) put in place by the Reserve Bank in terms of guidelines issued on February 5, 2015 will not be activated for a period of one year or earlier, as may be necessary.
Click here to read the press release.