Trade Credits for Import into India

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....ies) 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 maximum period of five years (from the date of shipment)....

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....(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 should be complied with. The amended Trade Credit policy will c....