Banks

Direct negotiation of export documents to be permitted. This will help the exporters to save bank charges. 100% retention in EEFC accounts.
The repatriation period for realisation of export proceeds extended from 180 days to 360 days. The facility is already available to units in SEZ and exporters exporting to Latin American countries.
These facilities are being made available to status holders only for the present.

a) Strategic Package for Status Holders

The status holders shall be eligible for the following new/ special facilities:

Licence/Certificate/Permissions and Customs clearances for both imports and exports on self-declaration basis.

Fixation of Input-Output norms on priority;

Priority Finance for medium and long term capital requirement as per  conditions notified by RBI;

Exemption from compulsory negotiation of documents through banks. The remittance, however, would continue to be received through banking channels;

100% retention of foreign exchange in Exchange Earners' Foreign Currency (EEFC) account;

Enhancement in normal repatriation period from 180 days to 360 days.