Line of Credit enables financing of eligible Indian exports to Eritrea, with Indian-sourcing requirement, timelines, and FEMA directions. Notification of an Exim Bank line of credit to the State of Eritrea for financing eligible goods, services, machinery and consultancy from India for agricultural and educational projects. The facility requires most of contract value to be supplied from India with limited outside procurement permitted for non consultancy items. Prescribed timelines apply for opening letters of credit and disbursement; shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances for commission remittance, subject to AD Category I bank compliance and prevailing instructions. The directions are issued under FEMA powers.
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 enables financing of eligible Indian exports to Eritrea, with Indian-sourcing requirement, timelines, and FEMA directions.
Notification of an Exim Bank line of credit to the State of Eritrea for financing eligible goods, services, machinery and consultancy from India for agricultural and educational projects. The facility requires most of contract value to be supplied from India with limited outside procurement permitted for non consultancy items. Prescribed timelines apply for opening letters of credit and disbursement; shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances for commission remittance, subject to AD Category I bank compliance and prevailing instructions. The directions are issued under FEMA powers.
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