letters of undertaking
UK High Court notes broad consistency in India's evidence against Nirav Modi
Taken overall, there is a broad consistency of evidence, Judge Ingrid Simler noted.
Nirav Modi diverted Rs 4,299 cr to himself, family and firms: ED in court
The agency would soon file a second charge sheet against Modi's uncle and jeweller Mehul Choksi and his businesses.
LoU ban to impact financial flexibility of importers
The central bank stopped banks from issuing the two instruments for trade credits for imports into India.
PNB issued over 41,000 LoUs since 2011: Finance Ministry
Reserve Bank has stopped banks from issuing LoUs and Letters of Comfort for trade finance.
Except for PNB, no unauthorised LoUs issued by PSBs: SBI official
RBI has stopped banks from issuing LoUs and Letters of Comfort for trade finance for imports into the country.
After PNB fraud, RBI bans use of Letter of Undertakings for overseas credit
RBI said the decision to discontinue practice of LoUs and LoCs for trade finance comes into force with immediate effect.
PNB fraud case: Nirav Modi's aide Vipul Ambani knew about fake LoUs, says CBI
CBI said applications for such letters were made from Vipul Ambani’s South-Central Mumbai office.