Trade Credits for Imports into India-Issue of Guarantees Delegation of Powers

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....in Foreign Exchange Madam/Sirs, Trade Credits for Imports into India -Issue of Guarantees Delegation of Powers Attention of Authorised Dealer (AD) banks is invited to A. P. (DIR Series) Circular No. 87 dated April 17, 2004 wherein ADs have been permitted to approve trade credits for imports into India up to USD 20 million per import transaction for import of all items permissible under the EXI....

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....ears for import of capital goods, subject to prudential guidelines issued by Reserve Bank from time to time. The period of such guarantees/LoUs/LoCs has to be co-terminus with the period of credit, reckoned from the date of shipment. 3. As regards reporting arrangements, AD banks are required to furnish data on issuance of guarantees/LoUs/LoCs by all its branches, in a consolidated statement, at ....

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....nge Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, F. R. Joseph Chief General Manager Annex to A. P. DIR Series Circular No. 24 dated November 1, 2004 Guarantees / Letter of Undertaking / Letter of Comfort issued by ADs As on quarter ended ................... Name of the AD :   Contact Per....