Line of Credit enables short-term export financing to PTA member countries under FEMA directions with specified validity. A short-term Line of Credit by Exim Bank to PTA Bank finances exports of raw materials, commodities, goods and services to PTA member countries for tenors up to 180 days under an aggregate cap; the agreement became effective April 1, 2005, with specified last dates for opening letters of credit and for disbursement. Shipments must be declared on GR/SDF Forms, agency commission is ordinarily not payable (exporters may use own funds if needed), and Authorised Dealer Banks must notify exporters. The direction is issued under FEMA without prejudice to other statutory permissions.
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.
Line of Credit enables short-term export financing to PTA member countries under FEMA directions with specified validity.
A short-term Line of Credit by Exim Bank to PTA Bank finances exports of raw materials, commodities, goods and services to PTA member countries for tenors up to 180 days under an aggregate cap; the agreement became effective April 1, 2005, with specified last dates for opening letters of credit and for disbursement. Shipments must be declared on GR/SDF Forms, agency commission is ordinarily not payable (exporters may use own funds if needed), and Authorised Dealer Banks must notify exporters. The direction is issued under FEMA without prejudice to other statutory permissions.
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