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of <h1>Exim Bank Establishes $100M Line of Credit with Russian Vnesheconombank to Boost Indian Exports by 2014 Deadline.</h1> Export-Import Bank of India (Exim Bank) has established a Line of Credit (LOC) of USD 100 million with the Bank for Development and Foreign Economic Affairs (Vnesheconombank), Russia, effective January 18, 2010. This LOC is intended to finance exports of eligible Indian goods and services under the Foreign Trade Policy. Letters of Credit must be opened by January 17, 2013, with disbursements completed by July 17, 2014. No agency commission is payable for exports under this LOC, except in cases requiring after-sales service, subject to Reserve Bank approval. Authorized banks are advised to inform exporters about this LOC.
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