Eastern Exporters interact
with EXIM Bank ED
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Mr. S. R. Rao, Executive Director, Export Import Bank (2nd from right) addressing gathering. Seated from left are Mr. T K Chattopadhyay, DDG, FIEO (ER), Mr. S K Jain, Chairman, FIEO (ER); and Mr. Pravin Saraf, Member, FIEO Managing Committee. |
In a meeting organized by the Eastern Region Office of FIEO with the Executive Director of EXIM Bank, Mr. S. R. Rao at Kolkata on 31st August, a prominent exporter of the region enquired why only 90% of the value of export consignment was being credited to an exporter’s account soon after the shipment against line of credit and why it was taking so long to credit the balance 10%.
Mr. Rao explained in details how an exporter can get early credit upon compliance of documentation and submitting proper credential with the designated bank. He informed the participants about various line of credit schemes being operated by the Bank. He further informed that under Buyers’ Credit Scheme his bank was extending line of credit to various banks across the world, especially in Latin American and African countries.
On being asked by a prominent exporter Mr. Vinod Agarwal of LMJ International about the possibility of getting finance from the Exim Bank, Mr. Rao said that his Bank was extending direct finance to exporters for developing EXIM parks in the country. The exporters also enquired if the Bank offered any direct finance for the units in handicraft and handloom clusters in the country.
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A participant raising a point |
