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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>India Revises Trade Credit Cost Ceiling to 350 Basis Points Over LIBOR for Imports, Effective Until March 2012.</h1> The circular addresses authorized dealer banks regarding the revision of the all-in-cost ceiling for Trade Credits related to imports into India. Due to challenges faced by domestic importers in securing Trade Credit under the existing ceiling, the all-in-cost ceiling has been revised. For credits up to one year, the ceiling is increased from 200 basis points to 350 basis points over the six-month LIBOR. This change is effective immediately and applicable until March 31, 2012, subject to review. Other aspects of the Trade Credit policy remain unchanged, and the circular is issued under the Foreign Exchange Management Act, 1999.
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