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of <h1>Exim Bank Provides $27.7M Credit Line to Mali and Senegal for Indian Railway Equipment Exports; Compliance Required.</h1> Exim Bank has established a Line of Credit (LOC) totaling USD 27.7 million to the governments of Mali and Senegal, with USD 20.62 million allocated to Mali and USD 7.08 million to Senegal. Effective from April 27, 2006, this credit facilitates the export of Indian equipment, goods, and services for acquiring railway coaches and locomotives. Letters of Credit and credit disbursement must be completed within specified timelines. Shipments must comply with Reserve Bank instructions, and agency commissions are not payable under this LOC. Authorized Dealer banks are instructed to inform exporters and ensure compliance with the Foreign Exchange Management Act, 1999.
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