RBI hikes trade transaction limit from Rs 2 lakh to Rs 5 lakh

• The Reserve Bank of India (RBI) has hiked the trade related remittance limit from Rs 2 lakh to Rs 5 lakh per transaction with immediate effect, amid  increased number of transactions handled by Exchange Houses. 
• RBI decided to increase the limit of trade transactions on a review of the permitted transactions under the Rupee Drawing Arrangements (RDAs).  
• These changes have been included in Memorandum of Instructions for Opening and Maintenance of Rupee/Foreign Currency Vostro Accounts of Non-resident Exchange Houses.
• Meanwhile, RBI said the government has notified the repurchase of its securities through reverse auction for an aggregate amount of Rs 15,000 crore (face value).