Bank rules on Export on elongated credit terms, Export of goods on lease, hire, etc.

Export of goods on lease and export of elongated credit terms, Reserve Bank of India guidelines

According to Reserve Bank of India update as on 08th January 2021, the directions on Banking procedures on export of elongated credit terms, export of goods on lease,hire is given below:


   A.15 Export of goods on lease, hire, etc.

Prior approval of the Reserve Bank is required for export of machinery, equipment, etc., on lease, hire basis under agreement with the overseas lessee against collection of lease rentals/hire charges and ultimate re-import. Exporters should apply for necessary permission, through an AD Category – I banks, to the Regional Office concerned of the Reserve Bank, giving full particulars of the goods to be exported.

 A. 16 Export on elongated credit terms

Exporters intending to export goods on elongated credit terms may submit their proposals giving full particulars through their banks for consideration to the Regional Office concerned of the Reserve Bank.

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