Imports and exports are the two important components of a foreign trade. Foreign trade is the exchange of goods and services between the two countries, across their international borders.
Import and exports are regulated by the Foreign Trade (Development and Regulation) Act, 1992, which replaced the Imports and Exports (Control) Act, 1947, and gave the Government of India enormous powers to control it. Under the Act, every importer and exporter must obtain a ‘Importer Exporter Code Number’ (IEC) from Director General of Foreign Trade or from the officer so authorized.
The signing official of the bank must put his / her official name seal with designation and E-mail ID