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November 2015

A. P. (DIR Series) Circular No. 16 dated 24th September, 2015

By Gaurang Gandhi Chartered Accountant

Reading Time 1 mins

Processing and settlement of import and export related payments facilitated by Online Payment Gateway Service Providers

Presently, banks are permitted to offer repatriation facility with respect to export related remittances pertaining to export of goods and services by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSP).

This circular: –
1. Now permits banks to offer similar facilities for import payments by entering into standing arrangements with the OPGSP.
2. This circular contains revised guidelines for facilitating payments of exports and imports by entering into standing arrangements with OPGSP.

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November 2015

A. P. (DIR Series) Circular No. 16 dated 24th September, 2015

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November 2015

A. P. (DIR Series) Circular No. 16 dated 24th September, 2015

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