LOU And FLCs
23
May
LOU And FLCs Subject: Economy Section: External sector Context: The CBI found that Mr. Choksi’s companies were fraudulently issued 165 Letters of Undertaking (LoU). The value of 58 Foreign Letters of Credit (FLCs) were also enhanced in 2017 for payment to dummy overseas suppliers. Concept: What is a Letter of Undertaking (LoU)? LoUs […]