Exim Bank's Government of India supported Short - Term Line of Credit (STLoC) of USD 55 million to the Government of the Democratic Socialist Republic of Sri Lanka for procurement of urea fertilizer from India
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Short-Term Line of Credit enables government-supported procurement finance for urea, with export declaration and utilization rules. Exim Bank has extended a Government supported Short Term Line of Credit (STLoC) to Sri Lanka for procurement of urea fertilizer from India; exports must be eligible under the Foreign Trade Policy and shipments declared in the Export Declaration Form/Shipping Bill per Reserve Bank instructions. The STLoC's terminal utilization period is six months from signing, extendable by Exim Bank but not beyond twelve months. No agency commission is payable under the STLoC; exporters may pay commission from their own resources or EEFC balances after realization, subject to AD Category I bank compliance. Directions are issued under FEMA without prejudice to other statutory permissions.
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Provisions expressly mentioned in the judgment/order text.
Short-Term Line of Credit enables government-supported procurement finance for urea, with export declaration and utilization rules.
Exim Bank has extended a Government supported Short Term Line of Credit (STLoC) to Sri Lanka for procurement of urea fertilizer from India; exports must be eligible under the Foreign Trade Policy and shipments declared in the Export Declaration Form/Shipping Bill per Reserve Bank instructions. The STLoC's terminal utilization period is six months from signing, extendable by Exim Bank but not beyond twelve months. No agency commission is payable under the STLoC; exporters may pay commission from their own resources or EEFC balances after realization, subject to AD Category I bank compliance. Directions are issued under FEMA without prejudice to other statutory permissions.
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