Gold loan tenor alignment: banks must match SBLC tenor to the Foreign Trade Policy prescribed loan period and comply promptly. AD Category I banks must ensure the maximum tenor of gold loans follows the Foreign Trade Policy 2009-14 or subsequent government notifications, and the tenor of any SBLC for import of gold on loan basis must be aligned with the tenor of the gold loan; banks must notify their constituents and customers and note that other terms of the earlier circular remain changed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Gold loan tenor alignment: banks must match SBLC tenor to the Foreign Trade Policy prescribed loan period and comply promptly.
AD Category I banks must ensure the maximum tenor of gold loans follows the Foreign Trade Policy 2009-14 or subsequent government notifications, and the tenor of any SBLC for import of gold on loan basis must be aligned with the tenor of the gold loan; banks must notify their constituents and customers and note that other terms of the earlier circular remain changed.
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