Top headlines: New export obligation defaults scheme, banks seek exemptions

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Budget 2023-24: Scheme to settle export obligation defaults on cards

The Union Budget 2023-24 may propose a dispute resolution scheme for exporters, which will offer a one-time opportunity to settle past issues of disagreement involving export obligation defaults.

The scheme, in the works, may provide a window of three-six months for exporters to come clean. It could lower the interest to one-third on delayed Customs duty payment and may even waive penalties, two people privy to the matter said. Read more...

India iPhone breakthrough masks struggle to improve manufacturing

While recent financial incentives under Modi offered Apple a