Telegrams:"Reservbank"Mumbai
Telephone 266 1602
Fax 022-266 0407
RBInet – bomiecd
E-Mail-rbibiecd@giasbmo1.vsnl.net.in | Reserve Bank of India
Industrial & Export Credit Department
Central Office,
Central Office Building,
Post Bag - 10030,
Mumbai - 400 001. | | |
Ref.IECD.No.20/04.02.02/2001-02 April 19, 2002 The Chairmen/Chief Executives
of all Commercial Banks Dear Sir, Export Credit – Whole Turnover
Post-shipment Guarantee Scheme Please refer to Circular IECD No.EFD 15/04.02.02/96-97 dated November 19, 1996 wherein it was advised that the cost of premium in respect of the Whole Turnover Post-shipment Guarantees taken by banks may be absorbed by themselves and not passed on to the exporters. 2. It has come to our notice that some banks have been recovering the premium in respect of Whole Turn Over Post-Shipment Guarantee from the exporters. We, therefore, reiterate that the cost of premium in respect of the Whole Turnover Post-shipment Guarantees taken by banks may be absorbed by the banks themselves and not passed on to the exporters. 3. Please acknowledge receipt. Yours faithfully, (S.D.Sapkal)
Deputy General Manager | |