Banking News

Foreign Trade Policy: Modification in Rupee denominated transaction

The importers in India can raise trade credit (Buyers Credit/Supplier Credit) from overseas supplier or bank and financial institution for import of all capital and non-capital goods (except gold) into India. RBI vide its circular A.P. (DIR series) Circcular No.13 dated September 10, 2015 said that resident importer can raise Rupees (INR) denominated transactions within the DGFT  framework after entering into an agreement with the overseas lender.

For information read related article: modification-in-foreign-trade-buyers-creditsupplier-credit-policy/ [Category: foreign-exchange]

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