Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Latest Circulars »
Open DEMAT Account in 24 hrs
 Designation of 3 individuals as Terrorists under Section 35 (1) (a) of the Unlawful Activities (Prevention) Act (UAPA), 1967 and their listing in the Schedule IV of the Act-Reg.
 Auction of Government of India Dated Securities Jan 23, 2023
 RBI extends time for renewal of agreements for existing Safe Deposit Locker/Safe Custody Article Facility Provided by Banks
  Designation of two individuals and one organisation under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act,1967 and their listing in the First and Fourth Schedule of the Act
 Implementation of Section 51A of UAPA, 1967 Updates to UNSCs 1267/ 1989 ISIL (Daesh) & Al-Qaida Sanctions List: Addition of 1 entry
 Implementation of Section 51A of UAPA, 1967: Updates to UNSCs 1267/ 1989 ISIL (Daesh) & Al-Qaida Sanctions List: Addition of 1 entry
 Designation of two individuals and one organisation under Section 35(1) (a) and 2(1) (m) of the Unlawful Activities (Prevention) Act,1967 and their listing in the First and Fourth Schedule of the Act
 Master Direction Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights in Banking Companies) Directions, 2023
 Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies
 RBI Working Paper No. 01/2023: Measuring Contagion Effects of Crude Oil Prices on Sectoral Stock Price Indices in India
  Conversion/Switch of Government of India Securities

Exim Bank's Line of Credit of USD 18 million to the Government of the Republic of Mauritius
September, 06th 2014

RBI/2014-15/215
A.P. (DIR Series) Circular No.27

September 5, 2014

To 
All Category - I Authorised Dealer Banks

Madam / Sir,

Exim Bank's Line of Credit of USD 18 million
to the Government of the Republic of Mauritius

Export-Import Bank of India (Exim Bank) has entered into an Agreement dated May 05, 2014 with the Government of the Republic of Mauritius for making available to the latter, a Line of Credit (LOC) of USD 18 million (USD Eighteen million) for financing eligible goods, machinery, equipment and services including consultancy services from India for the purpose of financing acquisition of Waterjet Fast Attack Craft by Mauritius. The goods, 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, the goods and services including consultancy 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 percent goods and services may be procured by the seller for the purpose of Eligible Contract from outside India.

2. The Credit Agreement under the LOC is effective from July 28, 2014 and the date of execution of Agreement is May 05, 2014. 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 the case of project exports and 72 months (May 04, 2020) from the execution date of the Credit Agreement in the case of supply contracts.

3. Shipments under the LOC will have to be declared on GR / SDF Forms 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 his own resources or utilize balances in 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.

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 Line of Credit from the 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.

6. 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,

(C. D. Srinivasan)
Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting