DISCOUNTING/PURCHASING OF BILLS AGAINST IMPORT ON USANCE/DEFERRED BASIS. REF: FEPD CIRCULAR NO. 18 DATED 27.09.2010.

With reference to paragraph 5(b), chapter 16 GFET , Vol-1 (Edition 2009) this is to clarify that ADs are free to discount/purchase accepted usance /deferred bills against import from abroad on banker customer relationship applying due diligence.

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