Exim Bank’s GOI-supported Line of Credit (LOC) for USD 100 million to the Government of the Republic of Maldives (GO-MDV), for financing new developmental projects and to meet spill over costs from developmental projects in Maldives already included under Lines of credit extended to GO-MDV by Exim Bank
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Line of Credit for Maldives projects permits India sourced supply and export financing under RBI and FEMA conditions. Exim Bank's Government of India supported Line of Credit to the Maldives finances new projects and spill over costs, requires at least 75 per cent of contract value to be supplied from India, mandates Export Declaration Form/Shipping Bill filings per RBI instructions, imposes a terminal utilization period of 48 months from scheduled project completion, disallows agency commission under the LoC (though exporters may use own funds or EEFC balances subject to realization and instructions), and directs AD Category I banks to notify exporters and permit compliant remittances; directions issued under FEMA remain without prejudice to other statutory 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 for Maldives projects permits India sourced supply and export financing under RBI and FEMA conditions.
Exim Bank's Government of India supported Line of Credit to the Maldives finances new projects and spill over costs, requires at least 75 per cent of contract value to be supplied from India, mandates Export Declaration Form/Shipping Bill filings per RBI instructions, imposes a terminal utilization period of 48 months from scheduled project completion, disallows agency commission under the LoC (though exporters may use own funds or EEFC balances subject to realization and instructions), and directs AD Category I banks to notify exporters and permit compliant remittances; directions issued under FEMA remain without prejudice to other statutory permissions.
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