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
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