A. Short Term:
Extended to Indian corporate to facilitate import of raw materials, machinery, spare parts etc.
For short term upto 6 months generally.
Interest rate for the credit would depend on market rates and is negotiable.
Extended in USD or AUD.
B. Long Term :
Extended for import of capital goods for large value projects.
Maturity upto 7 years inclusive of draw-down and gestation periods.
Interest rate, commitment fee, management fee quoted as fine as possible.
C. Formalities in brief:
Indicative quote given by SBI, Sydney on request.
Permission from Reserve Bank of India - a pre-requisite, wherever necessary..
A letter of comfort(LOC) of a letter or undertaking(LOU) from a domestic branch of SBI or a guarantee from a public sector bank / an acceptable private sector bank in India to be obtained.
For long term buyer’s credit, due-diligence for project viability by a domestic branch of SBI or an acceptable bank or financial institution in India to be completed.