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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Export-Import Bank of India's GOI-supported Line of Credit of USD 2.50 mn to the Government of Co-operative Republic of Guyana, for installation of Solar Photo Voltaic Power Plant at Cheddi Jagan International Airport

08-Jul-2024 | RBI/2024-2025/48 A.P. (DIR Series) Circular No. 14

RBI has issued a circular on Export-Import Bank of India's GOI-supported Line of Credit of USD 2.50 mn to the Government of Co-operative Republic of Guyana, for installation of Solar Photo Voltaic Power Plant at Cheddi Jagan International Airport.

By virtue of the circular, agreement under the Line of Credit (LoC) is effective from June 24, 2024. Under the LoC, the last date for disbursement will be 48 months after scheduled completion date of the project.

No agency commission is payable for export under the above LoC. However, the exporter may use his own resources or utilize balances in his Exchange Earners Foreign Currency Account for payment of commission in free foreign exchange. Authorised Dealer (AD) Category- I banks may allow such remittance after realization of full eligible value of export subject to compliance with the extant instructions for payment of agency commission.

AD Category - I banks may bring the attached circular to the notice of their exporter constituents and advise them to obtain complete details of the LoC from the Exim Bank' s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or from their website www.eximbankindia.in

For more information refer the attachment.

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