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Last updated: 12 Dec, 2018  

FIEO-logoTHMB Exporters urge new RBI governor to push credit

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Staff Reporter | 12 Dec, 2018

Exporters' association FIEO on Wednesday expressed hope that the new Governor would take steps to increase credit flow to the sector.

Welcoming the appointment of Shaktikanta Das as the new RBI Governor, Ganesh Gupta, President, FIEO said that his previous exposure as Revenue and Economic Affairs Secretary would come very handy in dealing with vexatious economic issues confronting the country.

He said that the new Governor will act as an effective bridge between the Government and the Central Bank so as to give necessary boost to the Indian economy.

Das would be able to address the concern of the states having worked in the Finance Commission, the FIEO chief added.

He hoped that the new Governor will ensure flow of credit to exports sector, which is declining sharply on year-on-year basis affecting the liquidity of exporters particularly the MSMEs.

While exchange rate is market driven, Gupta propagated for RBI intervention to stem extreme volatility in Rupee as it is neither beneficial for exporters nor importers.

A movement of Rupee in narrow band of 5 per cent would be more appropriate for export sector as near predictability in rate would reduce the cost of hedging as well, he added.

 
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