Reserve Bank Of India
A.P. (DIR Series) Circular No. 39
October 09, 2012
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
A.P. (DIR Series) Circular No. 100 dated March 30, 2012 and
A. P. (DIR Series)
Circular No. 28 dated September 11, 2012 relating to trade credits for imports
into India.
- 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 for trade credits for imports into India until further review.
- All other aspects of Trade Credit policy remain unchanged and 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,
(Rashmi Fauzdar)
Chief General Manager
RBI/2012-13/239