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of <h1>Exim Bank of India Opens $25M Credit Line to Vneshtorgbank, Russia for Indian Exports; Terms Set Until 2004.</h1> Exim Bank of India has established a USD 25 million line of credit to Vneshtorgbank, Russia, effective from November 14, 2002, for financing exports from India to Russia. The credit is designated for eligible goods and services, with terminal dates for opening letters of credit and utilization set for November 13, 2003, and May 13, 2004, respectively. No agency commission is allowed, except under specific conditions approved by the Reserve Bank. The circular, issued under the Foreign Exchange Management Act, 1999, instructs authorized dealers to inform exporters about the credit details. A comprehensive list of eligible goods is provided in the annexure.
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