{"id":1410,"date":"2021-08-07T09:04:20","date_gmt":"2021-08-07T09:04:20","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=1410"},"modified":"2021-08-07T09:04:49","modified_gmt":"2021-08-07T09:04:49","slug":"export-credit-in-foreign-currency-benchmark-rate","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/export-credit-in-foreign-currency-benchmark-rate\/","title":{"rendered":"Export Credit in Foreign Currency \u2013 Benchmark Rate"},"content":{"rendered":"<p style=\"text-align: right;\">August 6, 2021<\/p>\n<p>All Scheduled Commercial Banks<br \/>\n(excluding Regional Rural Banks)<br \/>\nAll Primary (Urban) Co-operative Banks1<br \/>\nAll Small Finance Banks<\/p>\n<p>Dear Sir \/ Madam,<\/p>\n<p>Please refer to Master Circular DBR.No.DIR.BC.14\/04.02.002\/2015-16 dated July 1, 2015 on Rupee \/ Foreign Currency Export Credit and Customer Service to Exporters.<\/p>\n<p>2. As per the extant guidelines, authorized dealers are permitted to extend Pre-shipment Credit in Foreign Currency (PCFC) to exporters for financing the purchase, processing, manufacturing or packing of goods prior to shipment at LIBOR\/EURO LIBOR\/EURIBOR related rates of interest.<\/p>\n<p>3. In view of the impending discontinuance of LIBOR as a benchmark rate, it has been decided to permit banks to extend export credit using any other widely accepted Alternative Reference Rate in the currency concerned. All other instructions in this regard shall remain unchanged.<\/p>\n<p>Yours faithfully,<\/p>\n<p>(Manoranjan Mishra)<br \/>\nChief General Manager<\/p>\n<p><strong>For full detail click the link below :<\/strong><\/p>\n<p><a href=\"https:\/\/www.dropbox.com\/s\/4rck2q9uklxcui8\/Export%20Credit%20in%20Foreign%20Currency%20%E2%80%93%20Benchmark%20Rate.PDF?dl=0\">https:\/\/www.dropbox.com\/s\/4rck2q9uklxcui8\/Export%20Credit%20in%20Foreign%20Currency%20%E2%80%93%20Benchmark%20Rate.PDF?dl=0<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>August 6, 2021 All Scheduled Commercial Banks (excluding Regional Rural Banks) All Primary (Urban) Co-operative Banks1 All Small Finance Banks Dear Sir \/ Madam, Please refer to Master Circular DBR.No.DIR.BC.14\/04.02.002\/2015-16 dated July 1, 2015 on Rupee \/ Foreign Currency Export Credit and Customer Service to Exporters. 2. As per the extant guidelines, authorized dealers are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,14],"tags":[74],"class_list":["post-1410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-notifications","category-rbi","tag-rbi-notification"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=1410"}],"version-history":[{"count":1,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1410\/revisions"}],"predecessor-version":[{"id":1411,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1410\/revisions\/1411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/656"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=1410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=1410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=1410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}