Imports are foreign goods and services bought by residents of a country in line with the rule of the land and payments undertaken through banks and financial institutions. LVBs import services include Issuance of Documentary Credits (DCs), Import Bill Collection Services, Direct Import Bills, Advance against Imports and Buyer's Credit / Supplier Credit.
1. Issuance of Letter of Credit
Letter of credit are trusted mechanism for settling trade transactions. Lakshmi Vilas bank offers a gmut of services to meet your letter of credit requirement. We also structure letter of credit to suit your specific transaction requirement.
2. Import Bill Collection Services
Bills under collection provides excellent solution in lowering costs and expediting process, while maintaining control over transfer of goods and funds. Lakshmi Vilas bank provides you efficient and hassels-free import document handling and faster remittance to your suppliers overseas through our strong foreign correspondent network.
3. Direct Import Bills
You may receive import documents directly from the overseas suppliers subject to conditions prescribed by Reserve bank of india. Lakshmi Vilas bank ensure quick and efficient settlement of your direct import bills through our strong correspondent bank network.
4. Advance against Imports
If your payment terms with your suppliers overseas are advances,we can guide you on varioius provisions under FEMA and assist you in efficient and faster remittance to your supplier at competitive rates
5. Buyers Credit / Suppliers Credit
You can make use of global interest rate arbitrage and take benefit of lower interest rate in overseas markets. Lakshmi vilas bank's strong network correspondent banks helps you to getting cheaper finance for your import liabilities by way of Buyer's Credit.