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July 2008

A.P. (DIR Series) Circular No. 42, dated 28-5-2008 — Trade credits for imports into India — Review of all-in-cost ceiling.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
Reading Time 1 mins
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Part C : RBI/FEMA


Given below are the highlights of certain RBI Circulars.

 

49 A.P. (DIR Series) Circular No. 42, dated
28-5-2008 — Trade credits for imports into India — Review of all-in-cost
ceiling.

This Circular has revised the all-in-cost ceiling in respect
of Trade Credits, with immediate effect, as under :

Maturity
period

All-in-cost ceiling over 6-month LIBOR for the respective
currency of credit or applicable benchmark
  Existing
 Revised
Up to one year
 50 basis
points		 75 basis
points
More than one
year up to three years  		125 basis
points		 125 basis
points

 

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