Import of goods: authorised dealers may open stand-by letters of credit for EXIM-permissible imports under industry guidelines. Authorised dealers may open stand-by Letters of Credit on behalf of importer constituents for import into India of any goods permissible under the EXIM Policy, subject to adherence to detailed operational guidelines issued by the industry association; authorised dealers must notify concerned constituents and act under the Exchange Control directions issued under statutory powers.
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.
Import of goods: authorised dealers may open stand-by letters of credit for EXIM-permissible imports under industry guidelines.
Authorised dealers may open stand-by Letters of Credit on behalf of importer constituents for import into India of any goods permissible under the EXIM Policy, subject to adherence to detailed operational guidelines issued by the industry association; authorised dealers must notify concerned constituents and act under the Exchange Control directions issued under statutory powers.
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