Repayment of State credits for Exports and Forfaiting, government conditions

Forfaiting and repayment of State Credits, Exporter's Bank process in India

According to Reserve Bank of India update as on 08th January 2021, the directions on RBI guidelines on repayment of state credits and Forfaiting  for Indian Exporters is given below:

A.11 Repayment of State credits

Export of goods and services against repayment of state credits granted by erstwhile USSR will continue to be governed by the extant directions issued by the Reserve Bank, as amended from time to time.

A.12 Forfaiting

EXIM Bank and AD Category – I banks have been permitted to undertake forfaiting, for financing of export receivables. Remittance of commitment fee / service charges, etc., payable by the exporter as approved by the EXIM Bank / AD Category – I banks concerned may be done through an AD bank. Such remittances may be made in advance in one lump sum or at monthly intervals as approved by the authority concerned.

Bank directions to be read by each Exporter in India

Banking regulations on Exports and Imports in India

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