Thursday, March 15, 2007

Post - Shipment Export Credit in Foreign Currency Guidelines :

  • Banks allowed to rediscount export bills abroad at rates linked to international interest rates at post-shipment stage as per the prescribed scheme
  • The Scheme to cover mainly export bills with usance period up to 180 days from the date of shipment
  • The Rupee equivalent of the discounted value of the export bills will be payable to the exporter and the same should be utilised to liquidate the outstanding export packing credit. 


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