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Reserve Bank of India

RBI has provided a liberal policy for SEZ units, the details are give below :-

1. Exemption from interest rate surcharge on import finance (circular dated 16.10.2000)

2. Release of Foreign Exchange to DTA units for buying goods from EOU/EPZs/SEZs units. (AD.MA Circular No. 4 dated 31.3.2000 and RBI clarification dated 16.1.2002).

3. To bring export proceeds in 360 days, certification of SOFTEX Form and re-export of goods/export of goods for repair etc. without GR waiver (Notification No. 36/2001 dated 27.2.2001 and circular 9 dated 25.10.2001).

4. Retain 100% Foreign Exchange in EEFC Accounts (Notification No. 37/2001 dated 27.2.2001).

5. Export Credit to Processors/Exporters Agri-Export Zones (IECD NO. 15/04.02.02/2001-2002 dated 3.01.2002), Amendment (IECD NO. 2046/04.02.02B/2002-2002 dated 23.11.2002).

6. Overseas Investment by SEZ units from EEFC Account through Automatic Route. (Notification No. 49/2002 dated 19.1.2002)

7. "Write-off" of unrealized export bills, (Circular dated 9.2.2002)

8. Export of Goods for Exhibition/Trade Fairs outside India (Circular No. 30/2002 dated 26.3.2002)

9. Authorised dealer allowed to reduce 10% in invoice value of export bills (Circular 38 dated 12.4.2002)

10. General Insurance Policy by insurer outside India (Circular No. 47 dated 17.5.2002)

11.Foreign Exchange Management (Foreign Currency Accounts by a person Resident in India) (Third Amendment) Regulations, 2002 (Notification No. FEMA.63/2002-RB dated 21.6.2002)

12. Export of goods and services-Facilities to units in SEZ A.P. (DIR Series) Circular No.10 dated 14.8.2002

13. Offshore Banking Units (OBUs)

14. Commodity hedging by SEZ Units (Notification No:-66/2002-RB dated 27.7.2002 and Cirular No:-44 dated 12.11.2002)

15. External Commercial borrowing by SEZ units.(F.No. 4(2)/2002-ECB, dated 15.9.2002)

16. Opening, holding and maintaining Foreign Currency Account in India by Unit in Special Economic Zones (SEZs). (RBI Circular A.P. (DIR SERIES) Circular No. 28 dated 3.10.2002)

17. Facility to amke payment in foreign exchange by SEZ units on pro of goods from Domestic Tariff Area (DTA). (Notification No. FEMA 77 /2002-RB dated 25.11.2002)

18. Circular issued by RBI. (A.P. (DIR Series) Circular No. 62 dated 17.12.2002)

19. Fixed Deposit out of EEFC Account by an SEZ Unit. (D.O. EC.CO.PCD.No.117/15.02.75/2002-03)