RBI to unveil easier export credit norms
The RBI will soon come up with guidelines to reduce the processing charges and speedy loan sanctions to exporters, as part of efforts to increase India’s external trade.
By Agencies |
NEW DELHI: The RBI will soon come up with guidelines to reduce the processing charges and speedy loan sanctions to exporters, as part of efforts to increase India���s external trade.
However, it is yet to decide on capping interest rate on foreign currency loans to libor plus 1%, as suggested by an RBI working group on export credit. ���Some of the recommendations of the committee set up to review export credit has been accepted by RBI.
On others, RBI will take a holistic view after consulting all parties concerned,��� RBI official A Sreekumaran said. The panel suggested that interest rate be raised by 25 basis points to libor plus 1% for the first slab and libor plus 2% for second slab of exporters, provided banks don���t levy other charges. ��� Agencies
However, it is yet to decide on capping interest rate on foreign currency loans to libor plus 1%, as suggested by an RBI working group on export credit. ���Some of the recommendations of the committee set up to review export credit has been accepted by RBI.
On others, RBI will take a holistic view after consulting all parties concerned,��� RBI official A Sreekumaran said. The panel suggested that interest rate be raised by 25 basis points to libor plus 1% for the first slab and libor plus 2% for second slab of exporters, provided banks don���t levy other charges. ��� Agencies
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