When preparing to study in Germany, one of the key requirements for international students is opening a blocked account (also known as Sperrkonto). This financial prerequisite is mandatory for those seeking a student visa and plays a crucial role in demonstrating your financial stability while residing in Germany. In this detailed guide, we will explore everything you need to know about a blocked account in Germany, why it is mandatory, the top providers in the market, and a comparison between two of the most popular service providers, Expatrio and Fintiba. We’ll also explain why Fintiba emerges as the superior choice.
1. What is a Blocked Account?
A *blocked account* is a special type of bank account designed to hold a specific amount of money that international students must deposit as proof of financial means before arriving in Germany. The German government mandates that students show they have sufficient funds to cover living expenses during their stay, ensuring that they can support themselves without relying on outside income. The funds in this account are “blocked,” meaning that you cannot access the full amount at once. Instead, a fixed monthly sum is released to you, typically around €992 per month in 2025, to cover essential expenses like rent, food, and transportation. This setup allows the German authorities to ensure that students can meet their living costs without financial hardship.
2. Why is a Blocked Account Mandatory for Overseas Students to Study in Germany?
If you are an international student from a non-EU country, a *blocked account* is a mandatory requirement for obtaining a German student visa. This requirement is in place to ensure that you have enough funds to sustain yourself throughout your studies, as part-time work or scholarships may not always be enough to cover all expenses. The amount required in the *blocked account* for 2025 is €11,904, which translates to a monthly allowance of €992. Without a *blocked account*, it is impossible to get a student visa, and consequently, you cannot begin your studies in Germany. It’s crucial to set up your account early, as processing can take time, and delays could potentially impact your visa application timeline.
3. Different Service Providers Who Facilitate Blocked Account Opening
There are several institutions and service providers that facilitate the opening of a *blocked account* for international students. The most common and trusted ones include:
1. **Fintiba**: Premium full-service provider with comprehensive support, sophisticated product bundles, and ideal for high-risk, high-touch customer segments.
2. **Expatrio** – Another widely-used service that offers blocked account services with additional packages for health insurance and relocation services.
3. **Deutsche Bank** – Some students opt for opening their blocked accounts directly with Deutsche Bank, though this process tends to be slower and more bureaucratic.
4. **Coracle** – Simple, affordable, and fully online option for price-sensitive markets with a flexible “pick-and-mix” model.
4. Comparison Between Expatrio and Fintiba (Why Fintiba is the Winner)
When it comes to choosing a provider for opening your *blocked account* in Germany, Fintiba and Expatrio are often the top choices. Both offer comprehensive services, but there are key differences that make Fintiba stand out as the superior option.
– **User Experience**: Fintiba offers an intuitive and user-friendly online platform. The Fintiba login process is simple, and you can manage your account entirely online. This is particularly useful for students who need to open their accounts quickly and manage them remotely.
– **Processing Time**: Fintiba is known for its fast processing times. The entire process, from opening the account to accessing funds, can be completed within a few days.
– **Partnerships**: Fintiba has partnerships with major German banks, ensuring that your funds are secure and that you have access to the best financial services.
– **Comprehensive Services**: In addition to the blocked account, Fintiba offers health insurance, digital support services, and relocation assistance, making it a one-stop solution for students moving to Germany.
– **Customer Support**: Fintiba provides excellent customer support, offering help in several languages and ensuring that students’ questions and concerns are quickly addressed. **Expatrio**
– **User Experience**: Expatrio also provides an easy-to-use online platform, but it is slightly less intuitive than Fintiba’s.
– **Processing Time**: Expatrio’s processing times are comparable to Fintiba, though there have been reports of slight delays.
– **Additional Services**: Expatrio offers health insurance and service packages that cater to international students. However, the offerings are not as comprehensive or integrated as those of Fintiba.
– **Customer Support**: While Expatrio offers good customer support, it does not have the same level of flexibility and responsiveness that Fintiba offers.
Why Fintiba is the Winner Overall, Fintiba is the clear winner when it comes to opening a *blocked account* in Germany. With faster processing times, superior customer service, and a more comprehensive range of additional services, Fintiba provides a seamless experience that makes the transition to studying in Germany much smoother.
5. How to Open a Blocked Account with Fintiba Opening a *blocked account* with Fintiba is a straightforward process. You can complete the entire procedure online in just a few simple steps:
1. **Sign up with Fintiba** by visiting their official partner link: Open your blocked account with Fintiba 2. **Provide your personal details** – such as passport information, admission letter, and proof of financial means.
3. **Transfer the required blocked amount** – For 2025, this amount is €11,904. 4. **Access your funds** – Once you arrive in Germany and activate your account, you will receive a fixed monthly amount of €992, which will be released to you for living expenses.
The Fintiba login platform allows you to manage everything in one place, making it a hassle-free experience. Conclusion Choosing the right provider for your *blocked account* in Germany is essential for ensuring a smooth start to your studies. With its superior service offerings, faster processing times, and comprehensive student support, Fintiba stands out as the best choice for international students. If you are preparing to study in Germany and need to open a blocked account, consider using Fintiba for a reliable and stress-free experience.To get started, follow this link to open a blocked account with Fintiba (https://partner.fintiba.com/ibrliveindiaprivatelimited).
A forward contract is a contract between the bank and its customer to buy or sell a specific currency at a specified future price for delivery on a specified future day beyond the Spot Date.
Period of Delivery:
A contract can be booked for a future fixed date of delivery or can have a window period of delivery where the contract must state the first & last date of delivery. The window period should be specified by the customer in such a way that the last date of delivery shall not exceed 1 month.
For Example: 19th Apr 2023 to 18th Mar 2023 & 31st Jan 2023 to 28th Feb 2023
Delivery in case of Holiday:
If the fixed date of delivery or the last date of delivery is a known holiday (which is known at least 3 working days before the date) the last date for delivery should become the preceding working day. In case of suddenly declared holidays, the contract shall be deliverable on the next working day
For Foreign Exchange business, Saturday will not be treated as a working day
Early delivery:
Yes, a forward contract can be utilized before its utilization period starts. In this case, the bank can recover or pay the swap difference. The bank also recovers the Interest on outlay and inflow of funds for such swaps.
Extension of forward contract:
In an extension of the forward contract, the earlier contract is cancelled at the current selling or buying rate and rebooked simultaneously at the current market rate. The difference between the earlier booked rate and the rate at which the contract is cancelled is recovered or paid to the customer.
Recovery/ Payment of Loss /Gain:
In case of cancellation of a contract at the request of a customer and if the request is made on or before the maturity date the bank recovers the loss or passes on the profit, the actual difference between the booked rate and the rate at which the cancellation is affected.
In the absence of any instructions from the customer, a contract which has been matured is cancelled by the bank within the 3 working days after the date of maturity
Please note that if a contract is cancelled after the maturity date, the bank is not liable to pass on the profit on the contract, if any, but the loss incurred in the contract shall be recovered from the customer.
Different Schemes of Hedging of Foreign Currency Exposure through forward contracts?
There are two types of exposures under which hedging can be done i.e. Contracted & Anticipated, all existing facilities such as Past Performance, Simplifies hedging, and Self-declaration have been withdrawn with effect from 01 September 2020 by RBI vide its master direction RBI/FMRD/2016-17/31 updated on 01.09.202.
What is contracted exposure?
It is an exposure to the exchange rate of the Indian Rupee against a foreign currency on account of current and capital account transactions permissible under FEMA, which have already been entered into. For Example, if an exporter has already received a purchase order and agreed to supply goods against it, then booking a forward contract against the same order is called contracted exposure.
What is anticipated exposure?
Exposure to the exchange rate of the Indian Rupee against a foreign currency on account of current and capital account transactions permissible under FEMA, which are expected to be entered into the future. For Example, if an exporter expects that he will receive a purchase order of at least 1 million dollars every month based on his experience and prospects, then booking a forward contract for such future exposures is called anticipated exposure.
What is the difference between contracted exposure and anticipated exposure for hedging foreign currency exposure by resident Indians?
Contracted Exposure
Anticipated Exposure
Exposure is hedged based on the contractual exposure which already exists
Exposure is hedged based on the exposure which is anticipated in future.
Proof of underlying exposure is not required for booking forward contracts up to USD 10 Million or its equivalent, however, the bank can demand the same whenever is required
Proof of underlying exposure is not required for booking forward contracts up to USD 10 Million its equivalent
Application & Forward Booking confirmation to be submitted to AD Bank within 15 calendar days through digital/ physical mode
Application & Forward Booking confirmation to be submitted to AD Bank within 15 working days through digital/ physical mode
Can be rebooked or cancellation
Can be rebooked or cancelled
Profit or loss fully passed or recovered
Losses are recovered upfront however profit is withheld & passed to the customer after submission of necessary documentation proof of Cash Flow.
Authorised Dealers may, in exceptional cases, pass on the net gains on contracts booked to hedge an anticipated exposure whose underlying cash flow has not materialised, provided it is satisfied that the absence of cash flow is on account of factors which are beyond the control of the user
The notional and tenor of the contract should not exceed the value and tenor of the exposure.
The notional and tenor of the contract should not exceed the value and tenor of the exposure.
If outstanding notional increasing USD 10 mio in the same FY underlying documents are required for fresh booking as well as for existing outstanding contracts
If outstanding notional increasing USD 10 mio in the same FY, evidence of cash flows on a contract basis is required for all outstanding contracts
The same exposure should not be hedged using any other derivative contract.
The same exposure has not to be hedged using any other derivative contract.
CGTMSE Scheme: Maximum Coverage Raised to Rs. 500 Lakhs
The Indian economy is supported by micro and small businesses (MSEs). However, because they frequently lack collateral or credit history, small companies frequently struggle to get loans from conventional financial institutions. (CGTMSE) the scheme was created by the Indian government to address this issue.
(SIDBI) and (MSMEs) introduced the CGTMSE program in August 2000. By ensuring a percentage of the loan amount, the initiative aims to give micro and small businesses access to credit without the need for collateral.
A lender (bank or finance institution) gives loans to MSEs within the CGTMSE scheme without requiring any kind of security. Any micro or small enterprise engaged in manufacturing, trading or service activities can avail of the benefits of the CGTMSE scheme. The scheme covers both new and existing enterprises, including those in the retail trade, agriculture, and allied activities.
According to a notification issued by the Indian government on March 31, 2023, there have been substantial changes made to the (CGTMSE) program. The CGS-I scheme’s coverage ceiling has been raised from Rs. 200 lakhs to Rs. 500 lakhs as a result of the notification with reference number CGTMSE/44/293 and circular number 220/2022-23.
The CGS-I scheme provides
credit guarantees for micro and small enterprises (MSEs) for the credit facilities extended by eligible Member Lending Institutions (MLIs). The coverage under the CGS-I scheme has been increased from Rs. 200 lakhs to Rs. 500 lakhs per borrower
The revised modifications will be applicable for all guarantees approved on or after April 01, 2023, including enhancement in the working capital of existing covered accounts. All other terms and conditions of the scheme shall remain unchanged.
The increase in the ceiling of coverage under the CGS-I scheme is a significant development that will benefit micro and small enterprises. It will enable these enterprises to access higher credit facilities without any collateral, thereby promoting entrepreneurship and creating employment opportunities. The CGTMSE scheme has been instrumental in supporting the growth of MSEs in India, and this modification will further strengthen its impact on the economy.
To be eligible for the CGTMSE scheme,
the enterprise should have a good track record and creditworthiness. It should also have a viable project report, which is evaluated by the lending institution. The scheme is not available to enterprises engaged in speculative or illegal activities.
The premium for the guarantee covered under the CGTMSE scheme is borne by the borrower, and it varies according to the amount of the loan and the tenure of the loan. The premium rates are lower for women entrepreneurs and for enterprises located in the North-Eastern Region and the hilly states.
In conclusion, the CGTMSE scheme is a significant initiative by the Government of India to support the growth of SMEs in the country. By providing collateral-free credit and guarantee cover, the scheme has made it easier for SMEs to obtain loans from banks and financial institutions. The scheme has contributed significantly to the development of the SME sector and has played a vital role in promoting economic growth and employment generation in the country.
The CGTMSE scheme is a government-backed credit guarantee initiative that enables micro and small enterprises to obtain business loans without pledging collateral. It works by providing risk cover to banks and financial institutions, encouraging them to lend to eligible MSMEs.
2. What are the main benefits of the CGTMSE scheme?
The key advantages include collateral-free financing, improved access to institutional credit, support for first-time entrepreneurs, and easier funding for business expansion. This initiative significantly reduces financial barriers for small businesses.
3. Who is eligible under the CGTMSE scheme?
Eligibility is limited to micro and small enterprises involved in manufacturing or services. New ventures, startups, and existing MSMEs registered under the MSME framework can qualify, subject to lender assessment and compliance norms.
4. Which types of enterprises can avail this credit guarantee facility?
Manufacturing units, service providers, traders, startups, and self-employed professionals operating as micro or small enterprises can benefit from this credit guarantee support.
5. What is the maximum loan limit under the CGTMSE scheme?
The maximum amount that can be covered under this credit guarantee program is ₹2 crore per borrower, subject to lender approval and scheme guidelines.
6. Is collateral mandatory for loans covered under CGTMSE?
No collateral or third-party guarantee is required. This is one of the most significant features of this government-supported lending framework.
7. What loan facilities are covered under this scheme?
Both term loans and working capital facilities are eligible. Composite loans combining long-term and short-term funding can also be extended under this framework.
8. How does this scheme support new entrepreneurs?
By removing the need for security, the scheme enables first-time business owners to access formal credit based on project viability rather than asset ownership.
9. How to apply for CGTMSE scheme?
Applicants must approach a bank or financial institution that is a member of the CGTMSE trust. The lender processes the loan application and applies for guarantee coverage on behalf of the borrower after sanction.
10. Can startups apply under this credit guarantee program?
Yes, startups classified as micro or small enterprises and meeting the lender’s eligibility criteria can apply for funding supported by this guarantee mechanism.
11. How much guarantee coverage is provided?
The trust generally offers coverage of 75% to 85% of the sanctioned loan amount, depending on borrower category and loan size.
12. Are service-sector businesses included?
Yes, service-based enterprises such as IT services, logistics, healthcare, education, and consultancy firms are eligible if they qualify as micro or small enterprises.
13. Are there any charges associated with the scheme?
Borrowers are required to pay a one-time guarantee fee and an annual service fee. These charges vary based on loan amount and borrower profile.
14. Can existing business loans be brought under this scheme?
In certain cases, existing eligible credit facilities may be covered, provided the lending institution follows prescribed guidelines.
15. Why is this credit guarantee initiative important for MSMEs?
It strengthens financial inclusion, boosts entrepreneurship, and helps small businesses grow without the burden of asset-backed borrowing.
OPEC latest news indicates that global oil-producing nations are taking a cautious approach to managing crude oil supply in 2026. Amid slowing global demand, geopolitical tensions, and concerns over oversupply, OPEC and its extended alliance, OPEC+, have chosen to hold production steady to stabilize oil prices and reduce market volatility. These decisions are closely watched as they directly influence fuel prices, inflation, currency markets, and economic growth worldwide.
The Organization of the Petroleum Exporting Countries (OPEC) is a coalition of major oil-producing nations that coordinates petroleum policies to help stabilize oil markets. Its 13 members include Algeria, Angola, Congo, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the UAE, Venezuela, and Gabon.
OPEC was established in 1960 to ensure equitable returns for producers and a stable oil supply for consumers — and it remains one of the most influential forces in global energy markets.
OPEC’s Role in Oil Markets
OPEC and its broader partner group, OPEC+, regularly meet to adjust crude oil production. These decisions directly affect oil prices:
Production cuts reduce global supply and tend to support higher oil prices.
Output stabilization or increases can dampen price rises or even push prices lower depending on market conditions.
1. OPEC+ Holds Production Steady into 2026 OPEC+ members — including Saudi Arabia, Russia, UAE, Iraq, Kuwait, and others — recently confirmed they will keep oil output unchanged through the first quarter of 2026. The group paused planned production increases despite geopolitical tensions and market volatility. Reuters+1
2. Oversupply Concerns & Price Weakness Oil prices experienced a sharp annual decline of about 18% in 2025, the biggest since 2020, due to oversupply fears. Analysts say demand has struggled to keep up with supply growth, and inventories remain relatively high. Reuters
3. Geopolitical Factors Still in Play Political strains among member states — most notably between Saudi Arabia and the UAE over the Yemen conflict — remain a background factor. However, OPEC+ leaders are trying to keep these tensions from influencing oil policy decisions. Reuters
4. Price Reactions & Market Sentiment Despite oversupply, oil prices ticked up slightly at the start of 2026 amid geopolitical uncertainty and supply risks linked to Venezuela and sanctions. Reuters
Impact of OPEC Decisions Around the World
Oil Prices
When OPEC cuts production, global supply tightens and oil prices generally rise. Conversely, when OPEC+ pauses or increases production, it can reduce upward pressure on prices — or even push prices down when demand is weak.
👉 The recent pause in output increases appears to be a market-balancing decision rather than an aggressive cut. This is significant because overall inventories and oversupply concerns have weighed on prices. Reuters
Inflation
Higher oil prices raise production and transport costs across industries, contributing to wider inflationary pressures in many economies. However, if prices stabilize or fall due to oversupply, inflationary effects could ease.
Global Economic Growth
Sudden price jumps can slow economic activity by increasing costs for industries and consumers, while lower energy costs can support growth by encouraging spending elsewhere.
Stock Markets
Energy equities often rise with oil prices, benefiting companies like BP, Shell, and ExxonMobil. But when prices are stagnant or falling, these stocks may underperform relative to other sectors.
Currency Markets
Because oil is priced in U.S. dollars, sharp oil price moves can impact exchange rates:
Rising oil prices often strengthen the U.S. dollar.
Falling prices can have the opposite effect.
Impact on the Indian Economy
India imports over 80% of its crude oil, so changes in global oil pricing directly affect:
Indian Rupee (INR)
If oil prices rise, India’s oil import bill increases. This raises demand for U.S. dollars and can put downward pressure on the Indian Rupee relative to the USD.
Conversely, if oil prices stabilize or fall due to increased supply, this can ease import costs and reduce currency pressure.
Inflation & Economic Activity
Higher crude oil costs increase fuel prices domestically (petrol, diesel), which can ripple through the economy and raise inflation. Lower oil costs can reduce inflation and support consumer spending.
In 2025, analysts noted that OPEC+ production adjustments (including supply hikes directed at markets like India) helped moderate crude prices — a positive for downstream industries and import bills. The Times of India+1
What’s the Difference Between OPEC & OPEC+?
OPEC consists of 13 core oil-exporting countries coordinating production policy.
OPEC+ includes these 13 plus other major producers such as Russia, Mexico, and Kazakhstan, expanding coordination and market influence.
OPEC+ emerged to help the original OPEC bloc manage global supply more effectively in a world with rising non-OPEC production.
Frequently Asked Questions
1. What does OPEC latest news say about current oil production levels?
OPEC latest news suggests that OPEC and OPEC+ countries are maintaining a cautious stance on oil production. In early 2026, the group has chosen to pause planned output increases to balance global supply with weakening demand and prevent further price volatility in the oil market.
2. Why is OPEC latest news important for global oil prices?
OPEC latest news is crucial because production decisions taken by OPEC directly influence the global supply of crude oil. Any announcement regarding output cuts, pauses, or increases can immediately affect oil prices, fuel costs, and energy markets worldwide.
3. How does OPEC latest news impact inflation across countries?
According to OPEC latest news, stable or rising oil prices can increase transportation and manufacturing costs, leading to inflationary pressure. Conversely, when OPEC holds supply steady during weak demand, it can help contain inflation in oil-importing countries.
4. What is the connection between OPEC latest news and the global economy?
OPEC latest news plays a key role in shaping global economic conditions. Higher oil prices can slow economic growth by raising input costs, while controlled pricing through supply management can support economic stability and industrial activity.
5. How does OPEC latest news affect the Indian economy?
For India, OPEC latest news is especially significant because the country imports most of its crude oil. Changes in oil prices driven by OPEC decisions can impact India’s import bill, fuel prices, inflation levels, and overall economic growth.
6. What does OPEC latest news indicate about the Indian Rupee (INR)?
OPEC latest news often influences currency markets. Rising oil prices increase India’s demand for U.S. dollars to pay for imports, which can put downward pressure on the Indian Rupee. Stable oil prices, however, can ease this pressure.
7. How is OPEC latest news affecting stock markets globally?
Energy stocks often react immediately to OPEC latest news. Oil-producing companies may benefit from higher prices following supply restrictions, while broader markets may react negatively if rising energy costs threaten economic growth.
8. Does OPEC latest news include updates on OPEC+ countries?
Yes, OPEC latest news frequently covers OPEC+ decisions as well. OPEC+ includes major non-OPEC producers like Russia and Kazakhstan, and their coordinated actions significantly influence global oil supply and pricing trends.
9. Why do investors and businesses closely follow OPEC latest news?
Investors, importers, exporters, and policymakers track OPEC latest news because it affects fuel costs, inflation forecasts, currency movements, and financial planning across multiple industries.
10. Where can readers follow authentic OPEC latest news?
For accurate OPEC latest news, readers should follow official OPEC announcements, global financial news platforms, and energy market reports that analyze production decisions and their economic impact.
Foreign Trade Policy 2023 and Its Impact on Indian Exports
The Foreign Trade Policy 2023 (FTP 2023-28) introduced by the Indian government marks a significant step toward strengthening India’s export ecosystem and improving ease of doing business. Designed with a long-term vision, the policy focuses on export growth, trade facilitation, digitisation, and reduction of compliance burdens for exporters.
One of the most notable and exporter-friendly measures under Foreign Trade Policy 2023 is the introduction of a special one-time Amnesty Scheme aimed at resolving long-pending export obligation defaults under EPCG and Advance Authorizations.
What Is the Amnesty Scheme Under Foreign Trade Policy 2023?
According to the Directorate General of Foreign Trade (DGFT), the Amnesty Scheme under the Foreign Trade Policy 2023 allows exporters to regularise pending export obligation defaults under EPCG and Advance Authorization through a one-time compliance window.
Under the Foreign Trade Policy 2023, the Amnesty Scheme is a one-time opportunity provided to exporters who were unable to fulfil their export obligations due to genuine business challenges such as global slowdown, supply chain disruptions, or market volatility.
Export Promotion Capital Goods (EPCG) and Advance Authorization schemes allow duty-free imports subject to export commitments. However, failure to meet these obligations often results in heavy customs duties, interest, penalties, and prolonged litigation.
The Amnesty Scheme under Foreign Trade Policy 2023 provides relief by allowing exporters to regularise such defaults by paying proportionate exempted duties.
Amnesty Scheme for EPCG and Advance Authorization Defaults
Under this scheme:
Exporters can regularise all pending EO default cases
Duties are payable proportionate to unfulfilled export obligation
Interest is capped at 100% of exempted duties
Additional Customs Duty and Special Additional Customs Duty are exempt from interest
Litigation and enforcement actions are avoided
This structure significantly reduces the financial burden on exporters while offering legal certainty.
Key Benefits of the Amnesty Scheme Under Foreign Trade Policy 2023
Closure of long-pending cases, improving compliance records
Improved liquidity for exporters
Encouragement for business revival and export growth
Lower litigation and administrative costs
By addressing legacy issues, Foreign Trade Policy 2023 enables exporters to restart operations with confidence.
How the Amnesty Scheme Aligns With “Vivaad se Vishwas”
The Amnesty Scheme under Foreign Trade Policy 2023 aligns with the government’s broader philosophy of “Vivaad se Vishwas”, which focuses on dispute resolution through trust-based mechanisms rather than prolonged litigation.
The intent is to transform the relationship between exporters and authorities from enforcement-driven to facilitative, ensuring smoother trade operations.
Why Exporters Should Act Now Under Foreign Trade Policy 2023
Since this is a one-time amnesty, exporters with unresolved EPCG or Advance Authorization defaults should act promptly. Delaying may result in loss of benefits and revival of full penalties, interest, and legal action.
The Foreign Trade Policy 2023 Amnesty Scheme is not just a compliance window—it is an opportunity to reset, rebuild, and grow exports in a more stable regulatory environment.
FAQs – Foreign Trade Policy 2023 Amnesty Scheme
1. What is Foreign Trade Policy 2023?
Foreign Trade Policy 2023 is India’s five-year trade framework (2023–28) aimed at boosting exports, simplifying trade procedures, reducing litigation, and promoting ease of doing business through trust-based reforms.
2. What is the Amnesty Scheme under Foreign Trade Policy 2023?
The Amnesty Scheme under Foreign Trade Policy 2023 is a one-time compliance relief measure that allows exporters to regularise export obligation defaults under EPCG and Advance Authorization by paying proportionate duties with capped interest.
3. How is the Amnesty Scheme under Foreign Trade Policy 2023 linked to “Vivaad se Vishwaas”?
The Amnesty Scheme reflects the government’s “Vivaad se Vishwaas” approach by encouraging voluntary compliance instead of prolonged litigation. Under Foreign Trade Policy 2023, exporters are given a fair opportunity to settle disputes amicably, reduce legal conflicts, and rebuild trust with authorities.
4. Who is eligible for the Amnesty Scheme in the Foreign Trade Policy 2023?
Exporters who have pending or unresolved export obligation defaults under:
Export Promotion Capital Goods (EPCG), or
Advance Authorization
are eligible to apply under the Foreign Trade Policy 2023 Amnesty Scheme.
5. What payments are required under the Amnesty Scheme?
Under Foreign Trade Policy 2023, exporters must pay:
Customs duties proportionate to the unfulfilled export obligation
Interest capped at 100% of the exempted duty
In line with the Vivaad se Vishwaas philosophy, no interest is payable on Additional Customs Duty and Special Additional Customs Duty, reducing financial stress.
6. How does Vivaad se Vishwaas benefit exporters under Foreign Trade Policy 2023?
The Vivaad se Vishwaas approach under Foreign Trade Policy 2023 helps exporters by:
Avoiding lengthy court cases
Reducing financial uncertainty
Enabling faster case closure
Promoting a cooperative, trust-based trade environment
This allows exporters to focus on business growth rather than disputes.
7. Is the Amnesty Scheme under Foreign Trade Policy 2023 a one-time opportunity?
Yes. The Amnesty Scheme under Foreign Trade Policy 2023 is a one-time measure, consistent with the Vivaad se Vishwaas principle of resolving legacy disputes and moving forward without recurring litigation.
8. Why should exporters act quickly under Foreign Trade Policy 2023?
Exporters should act promptly because once the amnesty window closes, the Vivaad se Vishwaas–based relief will no longer be available, and regular enforcement actions, penalties, and interest may apply.
