NEW DELHI, June 13 -- The Government of India issued the following FEMA circular:
RBI/2025-26/55
A.P. (DIR Series) Circular No. 07
June 13, 2025
All Authorised Dealer Category-I banks
Madam / Sir,
Import of Shipping Vessel - Relaxation
Attention of Authorised Dealer (AD) Category - I banks is invited to Para C.1 of Master Direction - Import of Goods and Services (MD-Imports) dated January 01, 2016.
2. With a view towards enhancing ease of doing business and keeping in view the sector-specific constraints, it has been decided to allow importers to make advance remittance for import of shipping vessel, without bank guarantee, or an unconditional, irrevocable standby Letter of Credit, up to USD 50 million, subject to the conditions me...