Wait...

Online India Export Import Data Search

Complete Training Video : Click Here

Exim Bank’s Line of Credit to Government of Ghana, RBI A P D (Series)Circular No 47/2008, 06-01-2009



Date: 06-01-2009
Notification No: RBI A P D (Series)Circular No 47/2008
Issuing Authority: RBI  
Type: A.P.D.(Series) Circulars
File No: RBI/2008-09/348
Subject: Exim Bank’s Line of Credit to Government of Ghana

RBI/2008-09/348
A. P. (DIR Series) Circular No. 47

January 06, 2009

To

All Category - I Authorised Dealer Banks
Madam / Sir,

Exim Bank's Line of Credit of USD 25 million
to the Government of Ghana

Export-Import Bank of India (Exim Bank) has concluded an Agreement dated September 02, 2008 with the Government of Ghana making available to the latter, a Line of Credit (LOC) of USD 25 million (USD twenty five million) for financing eligible goods and services including consultancy services from India for three projects viz:- (i) ICT and Good Governance project (US $ 5 million), (ii) Railway Corridors project (UD $ 13 million) and (iii) Agro Processing Plant (USD 7 million) in Ghana. The goods 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, the goods and services of the value of at least 85 per cent of the contract price shall be supplied by the seller from India, and the remaining 15 percent goods and services (other than consultancy services) may be procured by the seller for the purpose of Eligible Contract from outside India.

  1. The Credit Agreement under the LOC is effective from December 18, 2008 and date of execution of Agreement is September 02, 2008. Under the LOC, the last date for opening of Letters of Credit and disbursement will be 48 months from the scheduled completion date(s) of contract(s) in case of project exports and 72 months (September 01, 2014) from the execution date of the Credit Agreement in case of supply contracts.

  2. Shipments under the LOC will have to be declared on GR / SDF Forms as per instructions issued by Reserve Bank from time to time.

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

  4. 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 Line of Credit from Exim Bank’s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or log on to www. eximbankindia.in.

  5. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,
(D. Mishra)
Chief General Manager

       

DO YOU NEED HELP?







Get Free Sample Now

Which service(s) are you interested in?
+


What is New?

Date: 13-01-2017
Customs Notification No. 04/2017 (NT)
Tariff value Notification in respect of Fixation of tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver

Date: 12-01-2017
Customs Notification No. 03/2017 (NT)
Regarding in amendment in Notification no. 131/2016-Customs (N.T.) dated 31.10.2016 relating to AIR of duty drawback

Date: 12-01-2017
RBI/2016-17/212 A.P. (DIR Series) Circular No. 27
Evidence of Import under Import Data Processing and Monitoring System (IDPMS)

Date: 12-01-2017
RBI/2016-17/211 A.P. (DIR Series) Circular No. 26
Exim Bank's GoI supported Line of Credit of USD 0.17 million to the Government of the Republic of Burundi

Date: 12-01-2017
Service Tax Notification No. 4/2017 (ST)
Seeks to amend notification No. 26/2012-ST dated 20.06.2012 so as to rationalize the abatement for tour operator services

Date: 12-01-2017
Service Tax Notification No. 3/2017 (ST)
Seeks to amend notification No. 30/2012-ST dated 20.06.2012 so as to specify the person complying with the sections 29, 30 or 38 read with section 148 of the Customs Act, 1962 (52 of 1962) as the person liable for paying service tax in case of services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India.

Date: 12-01-2017
Service Tax Notification No. 2/2017 (ST)
Seeks to amend Service Tax Rules, 1994 so as to, (i) exclude such persons from the definition of aggregator who enable a potential customer to connect with persons providing services by way of renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes subject to fulfillment of certain conditions; (ii) Specify the person complying with the sections 29, 30 or 38 read with section 148 of the Customs Act, 1962 (52 of 1962) as the person liable for paying service tax in case of services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India.

Date: 12-01-2017
Service Tax Notification No. 1/2017 (ST)
Seeks to amend notification No. 25/2012-ST dated 20.06.2012 so as to (i) withdraw the exemption from service tax for services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India; (ii) exempt services provided by a business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch.

Date: 11-01-2017
Central Excise Notification No. 01/2017 CE (NT)
Notification under Section 11C of the Central Excise Act on Plain (un-modified) Tamarind Kernel Powder falling under heading 1302

Date: 11-01-2017
Notification No. 02/2017-Customs (ADD)
Seeks to levy provisional ant-dumping duty on 'Colour coated/pre-painted flat products of alloy or non-alloy steel' originating in or exported from People's Republic of China and European Union for a period of six months (unless revoked, superseded or amended earlier).



Exim Guru Copyright © 1999-2017 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