Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Cheaper loans for exporters in the works.


Date: 17-01-2020
Subject: Cheaper loans for exporters in the works
New Delhi: The government is working on a scheme to offer rupee and dollar loans at lower rates to exporters to address their liquidity concerns and give a boost to slumping exports.

The commerce department has proposed giving rupee credit to exporters at around 7.5% rate of interest and dollar-denominated loans at around 3.5% under the proposed scheme.

It will soon take a proposal to the cabinet.

“A cabinet note is in the works. We are in talks with the finance ministry,” said an official.

The scheme could be a reimbursement to the banks like interest subvention. Exporters said rupee loans at present are extended at 9.5-10% rate of interest while dollar credit is given at 5.5-6%.

“The move will help exporters provided there is no further loading of expenses,” said Ajay Sahai, director general, Federation of Indian Export Organisations.

India’s exports declined for the fifth month in a row at 1.8% in December to $27.36 billion as 19 of the 30 exporting sectors showed a decline in outbound shipments. In April-December of FY20, exports slipped 1.96% to $239.29 billion and imports declined 8.9% to $357.39 billion, leaving a trade deficit of $118.10 billion.

However, experts said many small exporters are comfortable with rupee credit especially with bank branches in smaller cities offering rupee loans.

Export credit disbursement declined 23% in 2018-19 to Rs 9.57 lakh crore from Rs 12.39 lakh crore in 2017-18.

Separately, to ease the liquidity crunch, the commerce and industry ministry

has also prepared a plan to reduce insurance premium rates to 0.6% for small exporters having an outstanding limit of less than Rs 80 crore.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 17-09-2020
Notification No. 45/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 17-09-2020
Notification No. 88/2020 - Customs (N.T.)
Exchange Rate Notification No.88/2020-Cus (NT) dated 17.09.2020

Date: 17-09-2020
Notification No. 34/2020-Customs
Seeks to further amend notification No. 50/2017-Customs dated 30.06.2017 so as to reduce the Basic Customs Duty on Lentils (Mosur) for the period from 18th September, 2020 to 31st October, 2020.

Date: 14-09-2020
Notification No. 44/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 10-09-2020
Notification No. 43/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 09-09-2020
Notification No. 86/2020-Customs (N.T.)
Appointment of CAA in case of M/s Esprit Overseas

Date: 07-09-2020
Notification No. 33/2020–Customs
Seeks to amend notification No. 50/2017-Customs, dated 30.06.2017 so as to exempt BCD on paper based taggants, including M-Feature.

Date: 04-09-2020
Notification No.85/2020-C
Notification No.85/2020-Customs (N.T.) dated 04.09.2020 to amend Notification No.92/2017 -Customs(N.T.) dated 28.09.2017.

Date: 03-09-2020
Notification No. 84/2020 - Customs (N.T.)
Exchange Rates Notification No.84/2020-Custom (NT) dated 03.09.2020

Date: 03-09-2020
Notification No. 41/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001