Strike hits export sector, results in losses worth Rs.25 k crore
Sai Nikesh | The Dollar Business A nation-wide strike on Wednesday called by around ten central trade unions caused loss of up to Rs.25,000 to the country, according to an estimate. Apart from affecting bank transactions, transportation of various overseas consignments came to a standstill due to the strike, hitting traders. “The strike called by trade unions created further problems for crisis-ridden export sector which has been witnessing decline for the past eight months,” Anupam Shah, chairman, Engineering Export Promotion Council (EEPC), told The Dollar Business. Transport and cargo services were disrupted across the country. “Besides, the documentation process for lifting of cargo, both imports and exports, got affected as the banks were not able to function,” Shah added. S C Ralhan, ...
Foreign Exchange Management Regulations, 2014
Dated 14th October, 2014 | Copy of | Notification no. FEMA.322/RB-2014 | In exercise of the powers conferred by clause (a) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations 2004 (Notification No. FEMA.120/RB-2004 dated July 7, 2004), as amended from time to time, (hereinafter called the Principal Regulations or the Notification), namely:- 1. Short Title & Commencement:- (i) These Regulations shall be called the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Third Amendment) Regulations, 2014. (ii) They shall come into force from ...
