Articles under Banking (India)

Recent RBI circular about withdrawal and deposit of old bank notes

Recent RBI circular about withdrawal and deposit of old bank notes Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ? 500/- and ? 1000/- (Updated as on December 05, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for ant

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Bank financial benefits to Exporters

  The information provided here is part of Export Import Online Tutorial Bank financial benefits to Exporters for pre shipment and post shipment   In this article, different bank financial support to exporters are explained.   As per reserve bank guidelines, bank helps exports in various ways in extending credit facilities with very lower rate of interest. Banks provide financial assistance before export or after export against specific export s

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Period of post shipment credit to exporters

Period of  post shipment credit to exporters with bank   As mentioned in earlier posts, post shipment finance is given by bank to exporters on the basis of export bills on collection /discounting/negotiation.  The post shipment finance is provided to exporters with low rate of interest.    // The amount of post shipment loan is liquidated by the payment of export bills received from overseas buyer in respect of invoice value of

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What is post shipment credit to exporters?

 The information provided here is part of Export Import Training online Post shipment credit to exporters   In this article,  the details about post shipment finance credit to exporters is explained.  This post also describes about various types of post shipment finance provided by bank with the guidelines of reserve bank.  Post shipment credit is extended to exporters by bank with low interest rate till realization of their export proce

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Bank Packing credit to exporters of Floriculture, Grapes and Other Agro-based Products

 The information provided here is part of Export Import Training course online Are exporters of Floriculture, Grapes and Other Agro-based Products eligible for pre shipment finance? This post explains about the pre shipment finance provided by banks to help exporters of grapes,floriculture and other similar agro based products. Packing credit can be availed from bank for exporters of grapes, floriculture and other similar agro based products to purchase cut-flowers et

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Are Construction contractors eligible for Packing credit?

The information provided here is part of Online Training Course on howtoexportimport Pre shipment credit  to Construction Contractors    Are Construction contractors eligible for Packing credit? Yes, construction contractors are eligible for pre shipment finance from bank subjected  to terms and conditions. In this article the details of packing credit to construction contractors are described.  Please read below the ext

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Conditions of Bank to provide Export Packing Credit to Sub-Suppliers

 The information provided here is part of Online export import business guide course Export Pre shipment credit to Sub-Suppliers   In this article, the terms and conditions to provide export packing credit to sub suppliers are  described.  The extract of RBI circular is given below: Packing credit can be shared between an Export Order Holder and sub-supplier of raw materials, components etc. of the exported goods as in the case of EOH and manufactu

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