Sr. No.
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Services
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Revised Charges w.e.f. 10.02.2020
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1 |
Bill purchased/discounted/negotiated
- Foreign Currency Export Bill
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Bill amount below equivalent USD 25000.00 – Rs. 1000.00 Bill amount equivalent to USD 25000.00 and above– Rs. 1500.00 (Additionally Rs. 100.00 per shipping bill to be charged if the more than one shipping bill is submitted under a single export bill.)
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Bill amount below equivalent USD 25000.00 – Rs. 1000.00 Bill amount equivalent to USD 25000.00 and above– Rs. 1500.00 (Additionally Rs. 100.00 per shipping bill to be charged if the more than one shipping bill is submitted under a single export bill.)
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2 |
Forwarding export documents to another bank due to reason such as LC being restricted to the latter or the LC have been confirmed by that bank.
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Rs. 1000.00 per bill Additionally Rs. 100.00 per shipping bill to be charged if the more than one shipping bill is submitted under a single export bill.
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3 |
Where reimbursement under a Letter of Credit is claimed by the bank with another Authorized Dealer in India
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Rs. 500.00 per claim
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4 |
For joining customer’s guarantees and giving guarantee on behalf of customers in respect of discrepant documents.
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Proposed to be discontinued as not applicable
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5 |
Commission in lieu of exchange => Transfer of letters of credit => Amendments
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Serial no 5 Discontinued as Already mentioned in Sr.No.23 i.e Rs. 1000/- per transfer and subsequent amendments
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6 |
For each Export bill sent for Collection
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--Bill amount up to equivalent USD 5000.00 – Rs 250.00 -Bill amount equivalent to USD 5001.00 to USD 25000– Rs 750.00 -Bill amount beyond equivalent USD 25000.00 – 0.0625 % subject to maximum of Rs. 2000/-
Additionally Rs. 100.00 per shipping bill to be charged if the more than one shipping bill is submitted under a single export bill.
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7 |
If the entire sets of export documents have been sent by the exporter directly to the overseas buyer after complying with Exchange Control formalities. - For each export bill sent for collection by exporter against which advance payment already received
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Bill amount up to equivalent USD 5000.00 – Rs 250.00 -Bill amount equivalent to USD 5001.00 to USD 25000– Rs 500.00 -Bill amount beyond equivalent USD 25000.00 – Rs 1200.00
Additionally Rs. 100.00 per shipping bill to be charged if more than one shipping bill is submitted under a single export bill.
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8 |
For each export bill sent for collection against which advance payment already received.
- a- Full bill amount received in advance
- b-Part Bill amount received in advance and remaining on collection basis
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Discontinued Included in Section XI Sr.No. 7 of Circular dated 15.06.2019
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9
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In case of each overdue export bill, sent on collection where the proceeds are not received in NOSTRO account on or before the due date and in case of each overdue export bill purchased/discounted/negotiated/ and subsequently treated as collection item after crystallization.
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Rs. 500.00 per bill on quarterly basis after the due date and upto the date of realization (Overdue charges will be recovered at the end of every quarter. However, pro rata charges to be taken in first quarter and in the quarter when bill is realized)
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9a - Advance Remittances against exports
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Rs.200/- per remittance
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10 |
Charges for issuance of export related certificates
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Rs. 100.00 per certificate
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11 |
Issuance of NOC for discounting export Bills with other bank
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Rs. 1000.00 per bill
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12 |
Net off/Set off of export bills against import of goods (For Per shipping Bill) Other than these charges, no Bill collection charges to be recovered.
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Rs. 1000.00 per shipping bill.
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13 |
Approval for extension of due date (Other than Applicable normal charges)
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-Extension of due date up to 270 days from shipping bill date – Nil -Extension of due date beyond 270 days from shipping bill date – Rs.1000/- per extension
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14 |
Issuance of GR waiver Certificate
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Rs. 500.00 per certificate
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15 |
Approval for write-off of export bills (Other than overdue charges)
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-Write-off of export bills against Bank charges- Nil -Self Write-off of export bill by exporter- Nil -Others- Rs.1000 per shipping bill
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16 |
Late submission of documents (after 21 days from the date of shipment) (Other than normal applicable charges for collection and overdue)
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-Submission of documents beyond 30 days and up to 3 months - Rs.100 per shipping bill -Submission of documents beyond 3 months - Rs.500 per shipping bill
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17 |
Crystallization charges for export bills purchased/discounted at the time of crystallization.
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Rs. 1000.00 per bill
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18 |
Advising Letter of Credit for the Our bank’s clients
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Rs. 1000.00 per LC
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19 |
Advising Letter of Credit for the other-Bank clients
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Rs. 2000.00 per LC
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20 |
Advising of Amendment for Our Bank’s clients
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Rs. 600.00 per amendment
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21 |
Advising of Amendment for Other-bank clients
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Rs. 600.00 per amendment
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22 |
LC confirmation charges where LC opened in favour of Indian Exporter
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a.Sight : - 0.25% for the first quarter - 0.15% p.m. thereafter (Min. Rs. 1500.00) - For LC amount exceeding INR 5.00 crore commission @ 0.50% per annum (These charges i.e. @ 0.50% p.a. are applicable on the entire LC amount whenever the LC amount exceeds Rs. 5 crore) - Charges will be calculated from the date of opening of LC to the date of expiry of LC. b.Usance: -1.5% p.a. (Min. Rs. 2000.00) - For LC amount exceeding INR 5.00 crore commission @ 0.40% p.a. - Charges will be calculated from the date of opening of LC to the date of expiry of LC plus the usance period (These charges i.e. @ 0.40% p.a. are applicable on the entire LC amount whenever the LC amount exceeds Rs. 5 crore)
Charges applied for actual number of days per annum basis.
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23 |
Transfer of Letter of Credit
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Rs. 1000.00 per transfer and subsequent amendment
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24 |
For establishing an Import Letter of Credit/ Revolving Letter of Credit/ Letter of Credit covering imports of goods on deferred payment terms/ Back to Back letter of credit and Reinstatement charges (upon the reinstatement under a Revolving letter of Credit)
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a.Sight - 0.35% for the first quarter - 0.15% p.m. thereafter (Min. Rs. 1500.00)
- Usance
- 1.5% p.a. or part thereof
- For LC amount exceeding INR 5.00 crore commission @ 0.40% p.a. or part thereof.
(Min. Rs. 2000.00) (These charges i.e. @ 0.40% p.a. are applicable on the entire LC amount whenever the LC amount exceeds Rs. 5 crore)
Charges applied for actual number of days per annum basis.
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25 |
In case of a Letter of Credit established against 100% cash deposit as Security.
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25% of the charges as mentioned in Serial No 24
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26 |
STANDBY LETTER OF CREDIT
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Discontinued Included under point 81
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27 |
Extension of validity of LC
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Rs.1000/- per amendment plus charges applicable as per point 24
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28 |
In case of enhancement of value of credit
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Rs.1000.00 per amendment In case of enhancement of the value of a letter of credit, charges as per point No. 24 for establishing a letter of credit shall be recovered for the additional amount, for the remaining period. In case of both enhance of value of Credit and extension of validity for a particular LC at a time, amendment charges will be recovered for one event. Other charges shall be recovered as per norms.
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29 |
In case of amendment extending the tenor of the Bills of Exchange
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Rs.1000.00 amendment charges In the case of amendment altering the tenor of the Bill of Exchange, additional charges as per point no 24 shall be collected on the outstanding liability under the LC
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30 |
Amendment other than extension of validity or enhancement of tenor of the bill of exchange
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Rs.1000.00 per amendment.
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31 |
For revival of expired LCs within 3 months for the date of expiry
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Any revival or reinstatement of an expired LC shall be at the option of the bank but within 3 months from the date of expiry and shall be subject to recovery of charges as per point 24 from the date of expiry upto the validity period of the revival Letter of Credit.
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32 |
Letter of Comfort issued for availing Buyer’s Credit
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Facility Discontinued as of now as per RBI directives.
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33 |
Deferred Imports Commission on Letter of Credit covering import of goods on deferred payment terms involving payments beyond a period of six months from the date of shipment over a period of time as defined in Exchange Control.
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LC Amount
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% per quarter
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Upto 1 crore
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0.25
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>1 crore upto 5 crore
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0.18
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>5 crore
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0.10
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Calculated on the amount of liability under such credit at the beginning of every quarter.
Note: Charges will be recovered as mentioned above on the basis of LC amount coming under the particular slab. (For example, if LC amount is Rs. 4 crore, then charge will be @ 0.18% on entire amount.)
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34 |
If the validity period of a Letter of Credit covering import on deferred payment terms is extended.
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Flat amendment commission of Rs. 750/-, However, for any amendment extending the validity of the letter of Credit beyond 3 month period, commission at the applicable rate shall be recovered.
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35 |
Amendment Enhancement
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When the amount of an import letter of credit covering import on deferred payment terms is enhanced, commission at the applicable rate shall be recovered on the amount so enhanced. Note: For purposes of levying charges under this Rule value of each enhancement will ordinarily be considered separately without adding it to the outstanding liability of the letter of credit. However, branches may, at their discretion “add” the value of enhancement to outstanding liability of the letter of credit for purpose of levying charges depending upon the circumstances of each case.
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36 |
Credit Opinion Report
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Actual cost of report
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37 |
Shipping Guarantee for clearance of goods pending production of bill of lading.
- Relating to imports under LCs opened by the banks
- In all other cases
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- Documents under LC:
Flat Rs. 1000.00 per Shipping Guarantee
- In all other cases:
0.05% p.m. for the period of guarantee, Minimum Rs. 1000.00
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38 |
Foreign currency Import bills under LC at the time of crystallization or retirement whichever is earlier ( where exchange benefit accrues)
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0.125% of the bill amount- Minimum of Rs. 1000.00 – Maximum Rs. 25000.00
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39 |
Foreign currency bills under LC where no exchange benefit accrues
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0.25% of the bill amount. Minimum of Rs. 1000.00 – Maximum Rs. 30000.00
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40 |
Discrepancy charges in case of non-confirming documents under LC
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USD 50, EUR 50, GBP 50, JPY 5000 for LCs issued in USD, EUR, GBP and JPY; respectively. For all other currencies equivalent to USD 50.
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41 |
Import bill (not under LC) drawn in foreign currency on which bank earns exchange benefit.
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0.15% of the bill amount. Minimum of Rs. 1000.00 – Maximum of Rs. 25000.00
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42 |
Import bill (not under LC) drawn in rupees and in foreign currency on which bank earns no exchange benefit.
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0.30% of the bill amount. Minimum of Rs. 1000.00 – Maximum of Rs. 50000.00
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43 |
For foreign currency import bill required to be forwarded to another bank required for remitting proceeds to the remitting bank abroad
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Rs. 1000.00 per bill as handling charges
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44 |
For each bill received by importer directly from the overseas exporter/bank at the time of effecting remittance. Where exchange benefit accrues to the bank
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0.125% of the bill amount. Minimum of Rs. 1000.00 – Maximum of Rs. 10000.00
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45 |
For each bill received by importer directly from the overseas exporter/bank at the time of effecting remittance. Where no exchange benefit accrues to the bank
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0.20% of the bill amount. Minimum of Rs. 1000.00 – Maximum of Rs. 25000.00
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46 |
Import documents covering project imports under Inter-Government Aid Scheme and Schemes (including projects those financed by International Agencies like World Bank, IMF, ADB etc.) where no LC is opened.
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To be charged as applicable on import bills as per point no. 41, 42, 44 and 45.
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47 |
If foreign currency remittances are received in advance from the overseas buyer, and the specific request of merchanting trade customer hold the foreign currency funds in their Nostro A/C without converting the amount into Indian Rupee till the date of payment to the overseas supplier & the bank would not apply buying and selling rate of exchange. Serial 41
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Discontinued ( We have charged for Merchanting Trade transaction separately)
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48 |
Issuance of Delivery Order pending receipt of Import Bill ( document not under LC)
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Rs. 1000.00 per delivery order.
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49 |
Advance remittance against imports Where exchange benefit accrues to the bank
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0.15% of the remittance amount. Minimum of Rs. 500.00 – Maximum of Rs. 10000.00
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50 |
Advance remittance against imports Where no exchange benefit accrues to the bank
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0.20% of the remittance amount. Minimum of Rs. 1000.00 – Maximum of Rs. 15000.00
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51 |
Net off/Set off of import bills against export of goods. Other than these charges, no Import Bill collection charges to be recovered.
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Rs. 2000.00 per bill.
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52 |
Custody charges for overdue import bills
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Rs. 500.00 per bill per quarter or part thereof, after the due date. (Overdue charges will be recovered at the end of every quarter. However, pro rata charges to be taken in first quarter and in the quarter when bill is realized)
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53 |
Follow up for submission of BOE
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1. Advance remittance for Import - Rs. 1000.00 if the BOE is not submitted within 180 days from the date of last remittance. 2. Payment against Import Bill- Rs.1000 per bill of entry if not submitted within 90 days from the date of remittance. (Charges to be recovered at the time of submission of Bill of Entry)
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54 |
Merchanting trade transactions for Import transaction (Other than applicable charges for import bill i.e. collection charges, overdue charges, etc.)
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Flat Rs. 500.00 per import bill
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55 |
Counter signing/ Co-acceptance/ Availisation of Import bills
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0.085% per month for the tenor of bills subject to minimum of 0.25%.
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56 |
Recovery of commission in lieu of exchange on import bills payment of which are settled out of foreign currency loans arranged abroad, foreign currency accounts and EEFC accounts
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Discontinued. No commission in lieu of exchange to be charged in case import bills (under LC or otherwise) are realized out of foreign currency loans arranged abroad/ buyers credit.
No extra charge to be taken in case of EEFC funds too.
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57 |
IMPORT BILLS FOR COLLECTION Usually in respect of foreign currency collection bills the bank shall be entitled to exchange and commission. If for any reason the bank is required to forward the documents to another bank which will be required to remit the proceeds to the remitting bank abroad.
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Discontinued. Already covered under point no 43
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