India's export advances clampdown befuddles market
India’s central bank wants to stop long-term export advances being issued for struggling Indian firms to repay rupee loans. However, the guidelines appear riddled with holes.
In April, the Reserve Bank of India (RBI) issued new guidelines on Indian corporates’ usage of export advances to repay rupee loans raised domestically. Frustratingly lawyers, treasurers, and The Corporate Treasurer alike have found them rather confusing.
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