$20-m credit line to Exim Bank Iran
22 Mar 2002
The facility, involving a credit period of one year, will cover a 100-per cent value of exports from India to Iran. Under the arrangement, any of the designated Iranian banks Bank Mellat, Bank Melli Iran, Bank Sepah, Bank Saderat and Bank Tejarat can open letters of credit that will be advised and negotiated by Indian banks designated by Exim Bank.
Exim Bank has designated Bank of Maharashtra, Union Bank of India and UTI Bank as the advising/negotiating banks in India, which will be reimbursed by Exim Bank.