Reserve bank Of India
A.P. (DIR Series) Circular No. 98
April 9, 2013
To,
All Category - I Authorised Dealer Banks
Madam / Sir,
Trade Credits for Imports into India – Review of all-in-cost ceiling
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to
A.P. (DIR Series) Circular No.28 dated September 11, 2012 and
A.P. (DIR Series),
Circular No. 58 dated December 14, 2012 relating to all-in-cost ceiling of Trade
Credits for imports into India.
- On a review, it has been decided that the all – in – cost ceiling as
specified under paragraph 4 of A.P. (DIR Series) Circular No.28 dated September
11, 2012 `will continue to be applicable till June 30, 2013 and subject to
review thereafter. All other aspects of Trade Credit policy remain unchanged.
- AD Category-I banks may bring the contents of this circular to the notice of
their constituents and customers concerned.
- The directions contained in this circular have been issued under sections
10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
are without prejudice to permissions / approvals, if any, required under any
other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager - in Charge
RBI/2012-13/475