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RBI is requested to relax norms in money flowing in and out of the country
In the present system, it is easy to send money to India from overseas but very difficult to obtain money from India when someone is residing overseas and is in need of emergency money held in Indian bank accounts.

THE RESERVE Bank of India is requested to bring about big changes when it comes to money flowing into the country and outside the country. Reforms in remittance of money (both receiving and sending) need a change for the better to make it more customer and client friendly. The move will help in strengthening the overall business friendly image of India in more than one ways.

It was only gradually that the Indian government, after the landmark liberalization of the country's economy in 1991, began to make it easier for companies to send and receive capital both at the individual level as well as the organizational level.

But the time has come to make changes in the current policy with changing times. Indians are travelling, relocating to other countries as well as setting up businesses and entering into joint ventures with large and small companies abroad. In this context access to capital in India is essential for Indians to achieve growth without being tethered with regulations that choke individual as well as corporate success. 

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
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