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Pre-shipment
finance allowed under the name of "Packing Cash Credit",
is essentially a short term advance granted by the bank to an
exporter to enable him to procure, process, manufacture, pack
and ship the goods to the buyers abroad in conformity with the
terms of Export Letter of Credit.
Allowable limit: Packing
Cash Credit may be allowed to the garments/export oriented industries
to meet their funded requirements for the performance of the
export. Generally it does not exceed 90% of the FOB value of
the Master LC. |
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Highlights
