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Export Packing Credit

MILIND GUMASTE (AM) (108 Points)

16 August 2010  

Dear Friends

I have an export order and have taken forward cover against the same

I also wish to take a Packing Credit from my bank against the same Purchase Order

Is it a valid transaction as per RBI and can I avail the same

Pl guide me suggest material to substantiate

TR

Milind


 2 Replies

Ramesh (Manager - Finance & Accounts)   (92 Points)
Replied 16 August 2010

Dear Milind,

Certainly it is a valid one, you can go-ahead without hesitation, the rate of interest of EPC is much less when compare to working capital loans.

Regards,

Ramesh P.

MILIND GUMASTE (AM) (108 Points)
Replied 16 August 2010

Originally posted by : Ramesh P.

Dear Milind,

Certainly it is a valid one, you can go-ahead without hesitation, the rate of interest of EPC is much less when compare to working capital loans.

Regards,

Ramesh P.

 Thanks Ramesh

but When I had taken Fwd Cover, I had already sold future expected currency to my bank and if i need to take packing credit on the same PO, again I am selling my future currency to bank

will it be a valid transaction, if yes can you suggest me to some material which will substantiate

TBR

milind


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