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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (26948)	2/22/2005 12:58:39 PM
From: rails99	Read Replies (1) \| Respond to of 110194

Hi Russ: Reserve Bank of India: Repayment of Loans Against Gold Bank of India - maximum tenor of gold loan would be as per the foreign trade policy (FTP) 2004-2009 or as notified by the Government of India from time to time in the regard, i.e., 240 days at present as per the FTP. Authorized dealers may open standby letters of credit (SBLC), for import of gold on a loan basis, whenever required, as per FEDAI guidelines dated Aug 01, 2003. The tenor of the SBLC should be in line with the tenor of the gold loan. The SBLC should be in favor of internationally reknowned bullion banks only.... I saw this on Sunday PM. Also referenced Public Notice No. 28/ 2004-09 dated December 1, 2004. Will try to find my source this afternoon. Regards; Rails