IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 13 Mar 2018 | Removal date: open ended
Still in force

Import-related non-tariff measure, nes

On 13 March 2018, the Reserve Bank of India through RBI/2017-18/139 A.P. (DIR Series) Circular No. 20 disallowed issuance of Letter of Undertaking and Letter of Comforts by dealer banks for trade credits for imports into India. Henceforth, only Letters of Credit and Bank guarantees for Trade credits may be issued for the same.

AFFECTED COUNTRIES

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