All-in-cost ceiling for trade credits revised, increasing short-term premium while medium-term ceiling remains unchanged; effective immediately. The all-in-cost ceiling for trade credits for imports into India has been revised: the ceiling applicable to trade credits of up to one year is increased over the six month LIBOR benchmark, while the ceiling for more than one year up to three years remains unchanged. The amendment takes effect immediately, other trade credit conditions remain unchanged, amendments to the relevant FEMA regulations will follow, and AD Category I banks must notify their customers; directions are issued under the Foreign Exchange Management Act, 1999.
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All-in-cost ceiling for trade credits revised, increasing short-term premium while medium-term ceiling remains unchanged; effective immediately.
The all-in-cost ceiling for trade credits for imports into India has been revised: the ceiling applicable to trade credits of up to one year is increased over the six month LIBOR benchmark, while the ceiling for more than one year up to three years remains unchanged. The amendment takes effect immediately, other trade credit conditions remain unchanged, amendments to the relevant FEMA regulations will follow, and AD Category I banks must notify their customers; directions are issued under the Foreign Exchange Management Act, 1999.
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