RBI/2013-14/561
A.P. (DIR Series) Circular No.122
April 10, 2014
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 the
A.P. (DIR Series) Circular No. 56 dated September 30, 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 June 30, 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
(Rudra Narayan Kar)
Chief General Manager-in-Charge