The Reserve Bank of India (RBI) on February 13, 2025, notified regarding the Export-Import Bank of India’s GOI-supported Line of Credit of USD 120 mn to the Government of the Socialist Republic of Vietnam (GO-VNM) for procurement of High-Speed Guard Boats in the Borrower’s Country.
The following has been stated namely: -
• It states that India approved a $120 million Line of Credit for High-Speed Guard Boats, effective from January 20, 2025, with a 60-month disbursement period and exports subject to Foreign Trade Policy.
• It further states that no agency commission shall be payable under the LoC, but exporters may use their own resources or EEFC balances for commission payments, subject to regulatory compliance.
[Circular no. - RBI/2024-2025/114]
