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of <h1>India Eases Trade Credit Rules: AD Banks Can Now Issue Guarantees up to USD 20 Million Without Prior Approval.</h1> The circular addresses the delegation of powers to Authorized Dealer (AD) banks regarding trade credits for imports into India. Previously, AD banks required prior Reserve Bank approval to issue guarantees for trade credits up to USD 20 million. The policy has been revised to allow ADs to issue guarantees, Letters of Undertaking (LoUs), and Letters of Comfort (LoCs) up to USD 20 million per transaction for non-capital goods for one year and for capital goods for up to three years, subject to Reserve Bank guidelines. AD banks must report these activities quarterly to the Reserve Bank. The amendments take immediate effect and are subject to review.
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