Export-Import Bank of India’s GOI-supported Line of Credit of USD 180 mn to the Government of the Socialist Republic of Vietnam for procurement of 4 Offshore Patrol Vessels (OPV) in the Borrower’s Country
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Government-supported line of credit enables procurement of offshore patrol vessels, subject to export eligibility and RBI declaration rules. A Government-supported Line of Credit from Exim Bank enables procurement of four Offshore Patrol Vessels in the borrower's country; exports under the facility must meet the Foreign Trade Policy and LoC eligibility. The LoC is effective from January twentieth and limits disbursements to a period ending sixty months after scheduled project completion. Shipments must be declared via Export Declaration Form/Shipping Bill per RBI instructions. No agency commission is payable under the LoC; exporters may pay commissions from own resources or EEFC balances in free foreign exchange, subject to extant rules and AD Category-I bank compliance. The directions are issued under FEMA and do not affect other required approvals.
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.
Government-supported line of credit enables procurement of offshore patrol vessels, subject to export eligibility and RBI declaration rules.
A Government-supported Line of Credit from Exim Bank enables procurement of four Offshore Patrol Vessels in the borrower's country; exports under the facility must meet the Foreign Trade Policy and LoC eligibility. The LoC is effective from January twentieth and limits disbursements to a period ending sixty months after scheduled project completion. Shipments must be declared via Export Declaration Form/Shipping Bill per RBI instructions. No agency commission is payable under the LoC; exporters may pay commissions from own resources or EEFC balances in free foreign exchange, subject to extant rules and AD Category-I bank compliance. The directions are issued under FEMA and do not affect other required approvals.
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