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Good News to Iran Exporters
ECGC Guarantee cover upto Rs.300 crores to UCO Bank |
To
All the Members of Council,
Dear Member,
Subject:Special Rupee Payment arrangement for exports to Iran-regd.
It is to inform that Dept of Commerce, Govt. of India informed vide letter No. F.No. 13/2/2010-FT(SA) dated 2/2/1012 has informed the council members as follows:
“ECGC has agreed to provide guarantee cover upto Rs.300 crores to UCO Bank and also to waive the restrictive clause of “insufficient funds” for negotiation of L/C by the banks. “
Hence, all members may take note of the above and actively participate in the coming Pharmexcil’s Delegation to Iran starting from 17th to 19thDecember 2012 by registering their names at the earliest as the Number of delegates restricted to twenty five (25). Please see the Pharmexcil circular ref: PXL/H.O./CIR-099/2012-13 dated 6.11.2012.
With regards
Dr. P V Appaji
Director General
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