Trade Credits for Imports into India – Review of all-in-cost ceiling.

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..... banks is invited to A. P. (DIR Series) Circular No. 27 dated October 27, 2008 relating to the all-in-cost ceiling of Trade Credits for imports into India. 2. On a review of developments in the global financial markets and the fact that domestic importers are experiencing difficulties in raising Trade Credit within the existing all-in-cost ceiling, it has been decided to revise the a .....

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..... o the notice of their constituents and customers concerned. 5. 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, (Meena Hemchandra) Chief General Manager-in-Charge .....

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