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 180 mn to the Government of the Socialist Republic of Vietnam for procurement of 4 Offshore Patrol Vessels (OPV) in the Borrower’s Country.
The following has been stated namely: -
• It states that India approved a $180 million Line of Credit for four Offshore Patrol Vessels, effective January 20, 2025, with a 60-month disbursement period post-project completion.
• It further states that no agency commission shall be payable under the LoC, but exporters may use own funds or EEFC balances for commission payments, subject to regulatory compliance.
[Circular no. - RBI/2024-2025/113]
