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Line Of Credit Foreign Currency to Commercial Banks (LOCFC)

Purpose

For providing resource support to institutions/banks for extending export and domestic credit to SME units, Government recognised Export Houses / Trading Houses sourcing their requirements from SSIs

Eligibile Borrowers

All Commercial bank in private and public sector and approved factoring companies.

Norms

Currency - USD / EURO

Amount - Need based

Validity - One year or shorter period from the date of sanction

Rate of interest - Market related spread over 6 Month LIBOR.

 
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