Exporters may get relief soon as finance ministry asks RBI to review decision on LoU ban
RBI last month banned issuance of LoUs and Letters of Comfort (LoC), used extensively for trade finance, following the unearthing of Nirav Modi fraud case.
Apr 02, 2018, 12:49 PM IST
Banks write to RBI post LoU ban; seek relief for small and medium enterprises
Reserve Bank of India this month banned issuance of LoUs and Letters of Comfort (LoC), used extensively for trade finance, following the unearthing of Nirav Modi fraud case.
Mar 30, 2018, 14:39 PM IST
PNB scam fallout: RBI bars banks from issuing LoUs, LoCs
The change in regulations may hit import dependent businesses and trade that are often reliant on LoUs to get bank guarantees.
Mar 14, 2018, 06:45 AM IST
