Reserve Bank of India (RBI) Governor Shaktikanta Das on June 7 proposed to rationalise the guidelines of import and export of goods and services under the Foreign Exchange Management Act (FEMA) 1999.
“It is proposed to rationalise the extant FEMA guidelines in the export and import of goods and services,” Das said while delivering the bi-monthly monetary policy statement.
He added that this was proposed in the view of the changing dynamics of international trade and was in line with the progressive liberalisation of foreign exchange regulations.