RBI/2014-15/152
A.P. (DIR Series) Circular No.16
July 28, 2014
To,
All Category - I Authorized 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. 122 dated April 10, 2014 relating to
the 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 December 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 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,
(B. P. Kanungo)
Principal Chief General Manager