Export credit facility enables Indian goods and services exports under Exim Bank credit; authorised dealers must follow FEMA directions. Exim Bank's credit finances eligible Indian goods and consultancy services for an irrigation project in Lao PDR, requiring most of the contract value to be supplied from India or be of Indian origin while permitting limited procurement abroad. Letters of Credit and disbursements follow prescribed timelines; shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, but exporters may use their own resources or EEFC balances for commission payment subject to realisation and existing instructions. AD Category I banks must notify exporters and facilitate remittances in compliance with the circular. Directions are issued under FEMA 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.
Export credit facility enables Indian goods and services exports under Exim Bank credit; authorised dealers must follow FEMA directions.
Exim Bank's credit finances eligible Indian goods and consultancy services for an irrigation project in Lao PDR, requiring most of the contract value to be supplied from India or be of Indian origin while permitting limited procurement abroad. Letters of Credit and disbursements follow prescribed timelines; shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, but exporters may use their own resources or EEFC balances for commission payment subject to realisation and existing instructions. AD Category I banks must notify exporters and facilitate remittances in compliance with the circular. Directions are issued under FEMA without prejudice to other statutory permissions.
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