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The task force will make its recommendations on an ongoing basis and the processes are expected to be completed by December 4, 2006. The Task Force has been set up following a recommendation of the Committee.
The Task Force will be convened by Salim Gangadharan, chief general manager, in-charge, foreign exchange department, Reserve Bank of India, and will have the following terms of reference:
• Undertake a review of the extant regulations that straddle current and capital accounts, especially items in one account that have implication for the other account, and iron out inconsistencies in such regulations...
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