Line of Credit facilitation enables financing of eligible Indian exports under FEMA directions, with prescribed shipment and commission rules. The Exim Bank facility provides a Line of Credit to Afreximbank to finance eligible Indian exports under the Foreign Trade Policy, with prescribed time limits for opening letters of credit and disbursement. Shipments must be declared on GR/SDF forms. Conditional rules for payment of agency commission are specified, including prior approval, deduction from invoices, and impact on reimbursable amounts to negotiating banks. AD Category-I banks must notify exporters and facilitate remittances in compliance with prevailing instructions. Directions are issued under FEMA and remain subject to other legal 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 facilitation enables financing of eligible Indian exports under FEMA directions, with prescribed shipment and commission rules.
The Exim Bank facility provides a Line of Credit to Afreximbank to finance eligible Indian exports under the Foreign Trade Policy, with prescribed time limits for opening letters of credit and disbursement. Shipments must be declared on GR/SDF forms. Conditional rules for payment of agency commission are specified, including prior approval, deduction from invoices, and impact on reimbursable amounts to negotiating banks. AD Category-I banks must notify exporters and facilitate remittances in compliance with prevailing instructions. Directions are issued under FEMA and remain subject to other legal permissions.
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