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      Question

      Under the proposed FEMA draft regulations, what is the

      condition for further exports if unrealised proceeds exceed β‚Ή25 crore after 2 years?
      A Only permitted if buyer is government Correct Answer Incorrect Answer
      B Only permitted via e-commerce Correct Answer Incorrect Answer
      C Only permitted through open account Correct Answer Incorrect Answer
      D Only permitted against advance payment or irrevocable letter of credit Correct Answer Incorrect Answer
      E Only permitted after RBI approval Correct Answer Incorrect Answer

      Solution

      Exports will only be allowed against full advance payment or irrevocable letter of credit if proceeds over β‚Ή25 crore remain unrealised after two years.

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