Govt. of India approves of India and Sri Lanka trade settlement in Indian rupees
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- Last Updated on 21 May, 2022
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Circular No. RBI/2022-2023/53 A.P. (DIR Series) Circular No.03, Dated: 19.05.2022
In view of the difficulties being experienced by exporters in receipt of export proceeds from Sri Lanka and SBI credit facility agreement with the Govt. of Sri Lanka for sanction of Govt. of India guaranteed USD 1000 million term loan, RBI has decided that such trade transactions with Sri Lanka, falling under the said arrangement, may be settled in INR outside the ACU mechanism. Financing of export of eligible goods & services from India, would be allowed subject to Foreign Trade Policy.
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