The Reserve Bank of India logo is displayed outside of the bank’s headquarters. (Photographer: Kainaz Amaria/Bloomberg)

RBI Discontinues Letters Of Undertaking For Trade Credit For Imports

The Reserve Bank of India today decided to discontinue issuance of letters of undertaking (LoU) and letters of comfort (LoC) for trade credit for imports into India.Authorised dealer-1 (AD-1) categ...