TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Stops Issuance of LoUs and LoCs by Banks for Import Trade Credits; LoCs and Bank Guarantees Still Allowed.</h1> The Reserve Bank of India has decided to discontinue the issuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) by Authorised Dealer Category-I banks for trade credits related to imports into India. This decision is effective immediately. However, Letters of Credit and Bank Guarantees for trade credits can still be issued, provided they comply with the existing regulations. The relevant guidelines will be updated to reflect these changes, and banks are instructed to inform their clients accordingly. These directions are issued under the Foreign Exchange Management Act, 1999.
TaxTMI 
TaxTMI 
