Slc/pcfc/cc
venish ladva
(Querist) 29 April 2013
This query is : Resolved
what is the meaning of SLC and what is the usage of it ???
how PCFC disbursement procedure happens if company also availing cc from same bank ?
how to find out PCFC rate of interest???
if bank is charging higher interest on cc than mentioned in sanction letter then bank is charging interest at base rate+ fluctuating rate then how to find out that rate ??
Adv k . mahesh
(Expert) 29 April 2013
Interest Rates on Packing Credit in Foreign Currency (PCFC) and Export
Bills Re-discounted (EBR)
Revised interest rates w.e.f.15.11.2011
1. Preshipment Credit in
Foreign Currency (PCFC)
(a) Upto 180 days
Not exceeding LIBOR / EUROLIBOR / EURIBOR + 3.50%
(b) Beyond 180 days and upto
360 days
Rate for initial period of 180 days prevailing at the time of
extension plus 2.00% (i.e. LIBOR / EUROLIBOR / EURIBOR
+ 5.50%)
(c) If no exports take place
within 360 days
PCFC to be adjusted immediately by sale of foreign currency
against rupee at prevailing TT selling rate. Interest to be
recovered at the rate applicable to cash credit advances as
based on the borrowers’ credit rating from the date of advance.
Interest recovered earlier at LIBOR/ EUROLIBOR/EURIBOR
related rates to be adjusted.
2. Postshipment Credit -
Export Bills Re-discounting
Scheme (EBR)
(a) On demand bills for transit
period (as specified by FEDAI)
LIBOR/ EUROLIBOR/ EURIBOR + 3.50%
(b) Usance bills (for total
period comprising usance
period of export bills, transit
period as specified by FEDAI
and grace period wherever
applicable).Up to 6 months
from the date of shipment
LIBOR/ EUROLIBOR/ EURIBOR + 3.50%
(c) Export bills (Demand and
Usance) realised after due date
but upto date of crystallisation.
Not exceeding LIBOR/ EUROLIBOR/EURIBOR + 3.50% +
2.00 % (i.e. LIBOR/ EUROLIBOR/EURIBOR + 5.50%)
3.Export credit not otherwise
specified (ECNOS) @
a. Pre-shipment Credit Rate applicable to cash credit advances as based on the
borrowers’ credit rating from 361st day till liquidation by
tender of export document.
On accounts linked to BPLR BPLR + 2.5% (17.75%) from
the date of crystallisation
b. Post-Shipment Credit
On accounts linked to Base
Rate
Base Rate + 7.00 % (17.50%)
from the date of crystallisation
Note :These rates are exclusive of withholding ta
