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of <h1>Exim Bank of India Extends Credit to Brazilian and Myanmar Banks for Export and Railway Projects.</h1> The Export-Import Bank of India (Exim Bank) has extended Lines of Credit (LOCs) to two foreign banks: USD 10 million to a Brazilian bank and USD 56.358 million to a Myanmar bank. The credits are intended to finance exports from India, with specific terms for each agreement. The Brazilian LOC is for general exports, while the Myanmar LOC focuses on railway system upgrades. No agency commission is payable, but exceptions may be considered by the Reserve Bank. Authorized dealers are advised to inform exporters of these LOCs, which are governed by the Foreign Exchange Management Act, 1999.
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