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May 2015

A. P. (DIR Series) Circular No. 93 dated April 1, 2015

By Gaurang Gandhi Chartered Accountant
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Export of Goods and Services – Project Exports

Presently, Exim Bank in participation with commercial banks in India can extend Buyer’s credit up to US $ 20 million to foreign buyers in connection with export of goods on deferred payment terms and turn key projects from India.

This circular has done away with the said limit of US $ 20 million. Hence, Exim Bank in participation with commercial banks in India can now extend Buyer’s credit without any limit to foreign buyers in connection with export of goods on deferred payment terms and turn key projects from India.

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A. P. (DIR Series) Circular No. 92 dated March 31, 2015

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