SME Times is powered by   
Search News
Just in:   • Sebi issues procedural guidelines for proxy advisors  • Bandhan Bank promoter sells 21% stake to meet RBI norm  • Fitch cuts US credit outlook to "negative" from "stable"  • MSME ministry approves scheme for 'agarbatti' production  • SpiceJet brings back 269 Indians from Amsterdam 
Last updated: 17 Dec, 2019  

Rupee.9.Thmb.jpg New scheme in pipeline to improve bank credit to exporters

Rupee.9.jpg
   Top Stories
» MSME ministry approves scheme for 'agarbatti' production
» Increase outstanding dues limit for MSMEs under ECLGS: AEPC
» RBI rate cut likely; Rupee may weaken further
» Need for personal mobility pushes auto sales
» Focus is now on loan restructuring: FM
SME Times News Bureau | 13 Dec, 2019

Union Minister Hardeep Singh Puri has said the government is framing a new scheme for improving bank credit to exporters. Puri was speaking at an industry event organised by EEPC India, in New Delhi on Tuesday.

"We are framing a new scheme to be known as 'Nirvik' to provide higher insurance coverage to banks on their export credit through ECGC (Export Credit Guarantee Corporation of India)," Puri was quoted as saying in a statement.

"The ECGC is expanding the export credit insurance cover for the working capital loans and moderation in premium incidence for exporters to enable lower interest rates for export credit," he said.

The Minister said the Commerce Ministry had formulated a strategy for resolving specific problems faced by exporters after wide-ranging consultations with them. "In essence, we are trying to provide whatever support you, as exporters, need from the government," he said.

Puri said efforts were being made to increase India's exports to emerging markets of Africa, Latin America through preferential or free trade agreements (FTAs).

He also exhorted engineering exporters, under the aegis of EEPC India, to more than double their shipments in five years to $150-200 billion.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 04 Aug, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Textile opportunities in Finland: An export snapshot (1)
» Petrol, diesel prices unchanged for third day(1)
» Pain points for MSMEs(1)
» SBI's centralised SME loan process to ensure better loan processing(1)
» Focus is now on loan restructuring: FM(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter