Trade credit limits revised: authorized dealers may approve supplier or buyer credits with specified maturities and no roll overs. Amendments permit rescheduling and refinancing of foreign currency borrowings at a higher cost within the Reserve Bank's all-in-cost ceiling, with refinancing not reducing original outstanding maturity; they redefine trade credit and set AD approval parameters and maturity bands for trade credits, including a prohibition on roll-over beyond permissible periods, and are deemed effective from specified prior dates with clarification that retrospective effect will not adversely affect any person.
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Provisions expressly mentioned in the judgment/order text.
Trade credit limits revised: authorized dealers may approve supplier or buyer credits with specified maturities and no roll overs.
Amendments permit rescheduling and refinancing of foreign currency borrowings at a higher cost within the Reserve Bank's all-in-cost ceiling, with refinancing not reducing original outstanding maturity; they redefine trade credit and set AD approval parameters and maturity bands for trade credits, including a prohibition on roll-over beyond permissible periods, and are deemed effective from specified prior dates with clarification that retrospective effect will not adversely affect any person.
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