Settlement of Export related receipts facilitated by Online Payment Gateways- Enhancement of value of transaction
BANKS are permitted to offer the facility of repatriation of export related remittances by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSPs). Requests received from exporters for suitable enhancement of the value of the transaction from USD 500. It has now been decided to increase the value per transaction from USD 500 to USD 3000 for export related remittances received through OPGSPS. The revised directions will come into force with immediate effect.
RBI A.P. (DIR Series) Circular No.35, Dated : October 14, 2011