March 13, 2018 / 12:48 PM / 5 months ago

BRIEF-RBI Says Discontinuance Of Letters Of Undertaking & Letters Of Comfort For Trade Credits

Reuters Staff

1 Min Read

March 13 (Reuters) - Reserve Bank of India:

* DISCONTINUANCE OF LETTERS OF UNDERTAKING (LOUS) AND LETTERS OF COMFORT (LOCS) FOR TRADE CREDITS

* TO DISCONTINUE ISSUANCE OF LOUS/ LOCS FOR TRADE CREDITS FOR IMPORTS INTO INDIA BY AD CATEGORY –I BANKS WITH IMMEDIATE EFFECT Source text - bit.ly/2p8Xnyk

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