All-in-cost ceiling for trade credits remains in place and is continued subject to review; trade credit policy unchanged. The circular continues the all-in-cost ceiling for trade credits for imports into India, keeping the previously prescribed ceiling in effect until June 30, 2013 and subject to review, while stating that all other aspects of the trade credit policy remain unchanged and directing Authorized Dealer Category I banks to inform their constituents; the directions are issued as statutory instructions under the foreign exchange law and without prejudice to other permissions or approvals.
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Provisions expressly mentioned in the judgment/order text.
All-in-cost ceiling for trade credits remains in place and is continued subject to review; trade credit policy unchanged.
The circular continues the all-in-cost ceiling for trade credits for imports into India, keeping the previously prescribed ceiling in effect until June 30, 2013 and subject to review, while stating that all other aspects of the trade credit policy remain unchanged and directing Authorized Dealer Category I banks to inform their constituents; the directions are issued as statutory instructions under the foreign exchange law and without prejudice to other permissions or approvals.
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