All-in-cost ceiling for trade credit increased, effective immediately, as a temporary measure subject to subsequent review. Revision of the all-in-cost ceiling for trade credits into India increases permissible margins over the relevant benchmark for defined maturities; the ceilings include arranger, upfront and management fees, handling/processing charges, out-of-pocket expenses and legal costs. The change is effective immediately, communicated to Category I Authorised Dealer banks for onward notice to constituents, is temporary and subject to review, and issued under powers conferred by the foreign exchange statute while other trade credit policy aspects remain unchanged.
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Provisions expressly mentioned in the judgment/order text.
All-in-cost ceiling for trade credit increased, effective immediately, as a temporary measure subject to subsequent review.
Revision of the all-in-cost ceiling for trade credits into India increases permissible margins over the relevant benchmark for defined maturities; the ceilings include arranger, upfront and management fees, handling/processing charges, out-of-pocket expenses and legal costs. The change is effective immediately, communicated to Category I Authorised Dealer banks for onward notice to constituents, is temporary and subject to review, and issued under powers conferred by the foreign exchange statute while other trade credit policy aspects remain unchanged.
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