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agro based products like HPS Groundnut, defatted & deoiled cakes, tobacco, pepper, cardamom, cashew nuts, etc.) where packing credit required is in excess of FOB value, PCFC would be available only for exportable portion of the produce.(iii) Substitution of order/commodity Repayment/liquidation of PCFC could be with export documents relating to any other order covering the same or any other commodity exported by the exporter.
PCFC may be allowed only for ‘deemed exports’ for supplies to projects financed by multilateral/bilateral agencies/funds.
He also has a small pension leftover from the previous employer, so that pension is supplying ,000 a year.
That means that he will need to withdraw ,000 a year from his portfolio to meet his cash flow needs.
PCFC released for ‘deemed exports’ should be liquidated by grant of foreign currency loan at post-supply stage, for a maximum period of 30 days or up to the date of payment by the project authorities, whichever is earlier.
Banks will not be eligible for any refinance from RBI against export credit under the PCFC scheme and, as such, the quantum of PCFC should be shown separately from the export credit figures reported for the purpose of drawing export credit refinance.1.2 Diamond Dollar Account (DDA) Scheme Under the Exim Policy 1997-2002, firms/companies dealing in purchase/sale of rough or cut and polished diamonds, with good track record of at least three years in import or export of diamonds with an annual average turnover of Rs.