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CLR Snippets | Committee on Export Promotion to evaluate services to exporters

CLR SnippetsA Technical Committee on Services I Facilities to Exporters has been constituted under the chairmanship of Shri G Padmanabhan, Executive Director Reserve Bank of India (RBI). The Committee has representation from the EXIM Bank, Export Credit Guarantee Corporation (ECGC), Federation of Indian Export Organization (FIEO), Indian Banks` Association (IBA), Foreign Exchange Dealers Association of India (FEDAI), etc. The mandate of the Committee is to evaluate the entire gamut of services / facilities provided by banks / financial Institutions to the exporters.

RBI has received a number of representations from trade / exporters` bodies highlighting the difficulties faced by them in regard to transaction cost, accounting issues, documentation, flow of finance to export sector, factoring, etc. The above Committee was constituted to evaluate the facilities/services provided by banks / financial Institutions to the exporters and submit its report by April 2013.

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Tags: EXIM bankExportfinanceForeign Exchange Management ActIndiaLetter of creditReserve Bank of India

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