Clyde & Co is a leading, sector-focused global law firm with 415 partners, 2200 legal professionals and 3800 staff in over 50 offices and associated offices on six continents. The firm specialises in the sectors that move, build and power our connected world and the insurance that underpins it, namely: transport, infrastructure, energy, trade & commodities and insurance. With a strong focus on developed and emerging markets, the firm is one of the fastest growing law firms in the world with ambitious plans for further growth.
The Reserve Bank of India ("RBI"), has issued notification dated August 03, 2017, pursuant to which it has decided that it will continue not to issue letter of credits ("LC") on behalf of government...
The Reserve Bank of India ("RBI"),
has issued notification dated August 03, 2017, pursuant to which it
has decided that it will continue not to issue letter of credits
("LC") on behalf of government and will
not act as an issuing or advising bank for government as far as
transactions related to bank guarantees
("BG") are concerned. The role of RBI
shall be strictly limited to reimbursement of payments made by the
banks for such LCs/BGs on behalf of the government, after
satisfying itself with the debit mandate given by the
government.
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