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of <h1>Exim Bank of India Sets $500M Credit Line for Bangladesh Defense, Requires 75% Indian Sourcing.</h1> Exim Bank of India has established a USD 500 million Line of Credit (LOC) with the Government of Bangladesh's Armed Forces Division for defense procurement. This LOC, effective from November 7, 2019, mandates that at least 75% of goods and services be sourced from India, with potential reductions based on negotiations. The LOC has a 10-year utilization period, and shipments must comply with Reserve Bank regulations. No agency commission is payable, but exporters can use their resources for commission payments. Authorized banks are instructed to inform exporters about the LOC details and compliance requirements under the Foreign Exchange Management Act.
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