Trade Credits for Import into India

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s) Circular No. 87 dated April 17, 2004, A.P. (DIR Series) Circular No. 24 dated November 01, 2004, A.P. (DIR Series) Circular No. 28 dated September 11, 2012 and A.P. (DIR Series) Circular No. 59 dated December 14, 2012 regarding Trade Credits for import into India. 2. As per the extant guidelines, AD Category - I banks may approve availing of trade credit not exceeding USD 20 million up to a ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... period of 15 (fifteen) months for all trade credits to 6 (six) months. 4. AD Category - I banks are, however, not permitted to issue Letters of Credit/guarantees/Letter of Undertaking (LoU) /Letter of Comfort (LoC) in favour of overseas supplier, bank and financial institution for the extended period beyond three years. 5. All other aspects of Trade Credit policy will remain unchanged and s....