RBI/2013-14/301
A. P. (DIR Series) Circular No. 56
September 30, 2013
To,
All Authorised Dealer Category - I 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
the
A.P. (DIR Series) Circular No. 9 dated July 11, 2013 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 March 31, 2014 and is 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.
- 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
(C. D. Srinivasan)
Chief General Manager