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Authorised Economic Operators Programme

Authorised Economic Operators Programme: The gem and jewellery sector has been granted Authorised Economic Operator (AEO) status by the Ministry of Finance, easing export-import processes with shorter cargo release times and reduced bank guarantees. Authorised Economic Operators Programme: The Authorised Economic Operator (AEO) programme is a global initiative launched in 2007 under the World Customs […]

India’s Foreign Exchange Reserves Hit Record $651.5 Billion

India’s Foreign Exchange Reserves Hit Record $651.5 Billion: With $651.5 billion in foreign exchange reserves by May 31, 2024, India had the highest amount of foreign exchange reserves ever. Positive changes in trade, remittances, and foreign investments have helped India’s external industry reach a strong point. The Reserve Bank of India (RBI) says that service […]

Capital Account Convertibility

Capital Account Convertibility: To stay “future-ready” for India’s fast-growing economy, the Reserve Bank of India (RBI) has set aspirational goals: capital account liberalization, internationalization of the Indian rupee (INR), universalizing digital payments, and globalizing India’s financial sector over a multi-year timeframe. Capital Account Convertibility: Balance of Payments Account: It is a statement of all transactions […]