RBI’s move will will make it simpler for corporates to get forex

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Recently, Reserve Bank of India has done away with requirement of resolution of the Board of Directors for undertaking forex transactions. Now, an authorised signatory like the Managing Director or Chief Financial Officer of a company can approve employees to  conduct forex transactions on behalf of the corporate. 

This directive was issued on the 20th of January 2014 under RBI A.P (DIR Series) Circular No. 97 

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