https://www.taxtmi.com/circulars?id=52628 Exim Bank has extended a LOC of USD 42.61 million to the Government of Benin to finance eligible Indian-sourced goods, services, machinery, equipment and consultancy for water-supply upgrades, requiring at least 75 percent Indian supply content and permitting 25 percent foreign procurement. The LOC specifies effectiveness and disbursement timelines, mandatory GR/SDF shipment declarations, prohibition of agency commission from LOC funds (with limited exporter-funded alternatives), and directions issued under the Foreign Exchange Management Act; AD Category-I banks must inform exporters and refer them to Exim Bank for details. en-us Thu, 09 Jan 2014 00:00:00 +0530 Thu, 09 Jan 2014 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52628 Exim Bank has extended a LOC of USD 42.61 million to the Government of Benin to finance eligible Indian-sourced goods, services, machinery, equipment and consultancy for water-supply upgrades, requiring at least 75 percent Indian supply content and permitting 25 percent foreign procurement. The LOC specifies effectiveness and disbursement timelines, mandatory GR/SDF shipment declarations, prohibition of agency commission from LOC funds (with limited exporter-funded alternatives), and directions issued under the Foreign Exchange Management Act; AD Category-I banks must inform exporters and refer them to Exim Bank for details. Circulars FEMA Thu, 09 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52628