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What are the banking formalities for export in India?

Updated: 8/20/2019
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9y ago

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Bank is playing a great role for export.

First you should open a current account in your company name.

You have to obtain letter from bank to apply for IE code as well as Export promotion council registration.

All export-related money transaction should be handled through bank only.

You can avail loan for export against LC from your bank.

Your export incentives will be directly credited to your bank account only.

If you do export professionally, bank will give you loan without any collateral up to 15 crores.

Keep a good relationship with bank and grow your business...

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9y ago
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