Exim Bank's Line of Credit (LOC) of USD 100 million to Bank for Development and Foreign Economic Affairs (Vnesheconombank), Russia

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..... omic Affairs (Vnesheconombank), Russia Export-Import Bank of India (Exim Bank) has concluded an agreement dated December 7, 2009 with the Bank for Development and Foreign Economic Affairs (Vnesheconombank), Russia, making available to the latter, a Line of Credit (LOC) of USD 100 million (USD one hundred million) for financing exports of equipment, technology or any goods and services from India. .....

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..... the Reserve Bank may consider, on merit, requests for payment of commission up to a maximum of 5 per cent of the f.o.b. /(free on board)/ c&f (cost and freight)/ c.i.f. (cost, insurance and freight) value in respect of goods exported and which require after sales service. In such cases, commission will have to be paid by deduction from the invoice of relevant shipment to agents and the reimbursabl .....

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..... ncy 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 Exim Bank's office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005. 6. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreig .....

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