International Banking
FOREIGN CURRENCY EXPORT CREDIT ( PRE & POST-SHIPMENT)
A. PRE-SHIPMENT CREDIT IN
FOREIGN CURRENCY (PCFC)
Foreign currency denominated credit at internationally competitive rates
(LIBOR – linked) at pre-shipment stage.
B. EXPORT BILL REDISCOUNTING
(BRD / EBR)
Credit denominated in foreign currency at post-shipment stage at
internationally competitive rates (LIBOR – linked). PCFC drawals have to be
liquidated by the proceeds of bills taken under the BRD and any surplus
remaining may be credited to cash-credit / current a/c of the exporter.