Search For "letters of credit"
"Do not have any information," Tejashwi Yadav on Choksi's arrest
Updated : 11 months ago IST
Choksi allegedly connived with his associates and other Punjab National Bank (PNB) officials from 2014 to 2017 and fraudulently obtained Letters of Undertaking and Foreign Letters of Credit from PNB, resulting in a wrongful loss of Rs 6097.63 crore to PNB.
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NewMalayalam Receives Credit Upgrade from Care Ratings
Updated : 1 year, 2 months ago IST
Mumbai (Maharashtra) [India], January 7: NewMalayalam Steel Limited (NSE: NMSTEEL), specializes in galvanized pipes, tubes, sheets has received recent credit ratings upgrade from CARE Ratings Limited. The credit ratings cover total facilities amounting to Rs81.29 Cr and include term loans, c
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Bank of Maharashtra Streamlines Export Finance for Businesses With Tailore
Updated : 1 year, 9 months ago IST
New Delhi [India], June 13: In the dynamic landscape of global markets, successful expansion requires more than mere vision; it demands steadfast support. Bank of Maharashtra, one of the premier public sector banks in the country, is offering a comprehensive suite of Export Finance solutions
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Pakistan slashes petrol price by PKR 14, high-speed diesel by PKR 13.5
Updated : 2 years, 2 months ago IST
It reported citing a notification from the Pakistan Ministry of finance, the new prices of petrol are PKR 267.34 and PKR 276.21 for HSD. The State Bank reported the dollar had settled at PKR 283.51 on Thursday after losing against the local currency. Dealers said the market stayed calm even
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Odisha: ED files prosecution complaint against alleged conman
Updated : 2 years, 5 months ago IST
The Enforcement Directorate has filed a prosecution complaint against alleged conman Jyoti Ranjan Beura alias Golden Baba under the Prevention of Money Laundering Act at a Special Court here at Khorda in Bhubaneshwar, the agency said in a statement.
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Karnataka: ED conduct raids in Bank fraud case
Updated : 2 years, 9 months ago IST
According to ED, Bharath Infra Exports and Imports Ltd availed loan facilities in the form of cash credit, EPC/FBD, Non-fund based working capital and letters of credit (Inland and regular) from the State Bank of India, Bengaluru City branch, Bengaluru.
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Pak economic meltdown results in shortage of life-saving medicines
Updated : 2 years, 12 months ago IST
In a statement issued here on Thursday, the PMA said that it had already warned the government that the failure to open letters of credit (LC) for the import of raw materials would result in an acute shortage of medicine.
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Honda closes its plant in Pakistan due to financial crunch
Updated : 3 years ago IST
Honda Atlas Cars --the assembler of Honda automobiles in the country blamed current economic situation for its decision and said that the plant will remain closed from March 9 to 31.
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South Korean companies in Pakistan on brink of shutdown
Updated : 3 years ago IST
The non-opening of letters of credit (LCs) for imports of raw material is costing Korean companies "millions of dollars" in lost sales, said senior officials from the state-backed trade body as well as the local chamber of Korean investors.
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Pakistan: Long queues at filing stations amid petrol shortage
Updated : 3 years, 1 month ago IST
According to petrol dealers, companies cut down supplies of petroleum products to the province over long delays in the issuance of letters of credit by private banks for imports.
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Pakistan: Containers packed with essential items held up at Karachi port a
Updated : 3 years, 1 month ago IST
Banks are refusing to issue new letters of credit for importers due to a shortage of dollars. This has hit the economy which is already suffering due to soaring inflation in the country.
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Pakistan: Food supply at risk as banks reluctant to open letters of credit
Updated : 3 years, 2 months ago IST
The inability of banks to open LC's despite the State Bank of Pakistan's (SBP) directives about import facilitation, poses a threat to the supply of food, as well as, could escalate price pressures and create a shortage of medications.
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