Please refer to FE Circular No. 25, dated December 22, 2009 and its subsequent circulars in terms of which Authorized Dealers (ADs) may borrow loan from EDF against their foreign currency loan to manufacturer-exporters for input procurements.
- It has been decided that EDF loan will be admissible against back to back import LCs for input procurements by Type C industries in Export Processing Zones. ADs shall, while extending foreign currency loan to Type C industries, observe the relevant instructions of FE Circular No. 25, dated December 22, 2009 and its subsequent circulars.
Please bring the contents of this circular to the notice of all your concerned constituents.