Wait...

Online Export Import Data Search

Complete Training Video : Click Here

Date: 16-03-2017
Notification No: RBI/2016-17/253 A.P. (DIR Series) Circular No. 40
Issuing Authority: RBI  
Type: A.P.D.(Series) Circulars
File No: RBI/2016-17/253
Subject: Exim Bank's Government of India supported Line of Credit of USD 50 million to the Government of Co-operative Republic of Guyana

RBI/2016-17/253
A.P. (DIR Series) Circular No. 40

March 16th, 2017

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Exim Bank's Government of India supported Line of Credit of USD 50 million to the Government of Co-operative Republic of Guyana

Export-Import Bank of India (Exim Bank) has entered into an agreement dated March 16, 2016 with the Government of Co-operative Republic of Guyana for making available to the latter, a Government of India supported Line of Credit (LOC) of USD 50 million (USD Fifty million only) for financing East Bank East Coast Road Linkage Project in Guyana. The goods including plant, machinery, equipment and services including consultancy services from India for exports under this agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this agreement. Out of the total credit by Exim Bank under this agreement, goods and services of the value of at least 75 per cent of the contract price shall be supplied by the seller from India and the remaining 25 per cent of goods and services may be procured by the seller for the purpose of the eligible contract from outside India.

2. The credit agreement under the LOC is effective from March 02, 2017. Under the LOC, the terminal utilization period is 60 months after the scheduled completion date of the project.

3. Shipments under the LOC will have to be declared on Export Declaration Form as per instructions issued by the Reserve Bank from time to time.

4. No agency commission is payable under the above LOC. However, if required, the exporter may use its own resources or utilize balances in its Exchange Earners’ Foreign Currency Account for payment of commission in free foreign exchange. Authorised Dealer Category- I (AD Category- I) banks may allow such remittance after realization of full payment of contract value subject to compliance with the extant instructions for payment of agency commission.

5. AD Category- I banks may bring the contents of this circular to the notice of their exporter constituents and advise them to obtain full details of the LOC from the Exim Bank’s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or on their website www.eximbankindia.in.

6. The directions contained in this circular have been issued under Section 10(4) and Section 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,
(Deepak Kumar)
Chief General Manager

       

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 20-02-2018
DGFT Notification No. 51/2015-2020
Amendment in the Foreign Trade (Exemption from application of Rules in certain cases) Amendment Order, 2017.

Date: 19-02-2018
Notification No. 14/2018-Customs (N.T.)
Customs Tariff (Determination of Origin of Goods under the Comprehensive Economic Partnership Agreement between the Republic of India and Japan) Amendment Rules, 2018

Date: 16-02-2018
Public Notice No. 62/2015-2020
Directtives for processing of applicatin for MEIS claims under Foreign Trade Policy 2015-20

Date: 16-02-2018
Public Notice No. 61/2015-2020
Inclusion of Seaports located at Dhamra Port and Dighi Port under Para 4.37 of Hand Book of Procedures 2015-20.

Date: 15-02-2018
Public Notice No. 60/2015-2020
Amendments/Corrections in Table 2 of Appendix 3B Foreign Trade Policy 2015-20

Date: 15-02-2018
Notification No. 13/2018-Customs (N.T.)
Exchange Rates Notification No.11/2018-Custom(NT) dated 1.2.2018

Date: 15-02-2018
Notification No. 12/2018-Customs (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver.

Date: 12-02-2018
Notification No. 26/2018-Customs
seeks to further amend the notification No. 50/2017- Customs, dated the 30th June 2017 so as to reduce the Basic Customs Duty on motorcycles falling under tariff heading 8711.

Date: 06-02-2018
Notification No. 25/2018-Customs
Seeks to increase BCD tariff rate on Chana (Chickpeas), [Tariff item 0713 20 0] from 30% to 40% by invoking section 8A (1) of the Customs Tariff Act, 1975 and accordingly, the effective rate of BCD on Chana (Chickpeas), will also be 40%.

Date: 06-02-2018
Notification No. 24/2018-Customs
Seeks to increase import duty on all types of sugar under tariff head 1701, [Raw sugar, Refined or White sugar, Raw sugar if imported by bulk consumer] from the present 50% to 100% (Tariff rate) with immediate effect and without an end date.



Exim Guru Copyright © 1999-2018 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001