RBI asks banks to appoint nodal officers to boost exports.

The Reserve Bank of India (RBI) has asked banks to appoint nodal officers for boosting export credit and promote overseas shipments, a senior official of the central bank said today.

"Under the new policy of RBI, all the banks are required to appoint nodal officers who can facilitate exports and related financial matters," Anup Kumar, Deputy General Manager [Foreign Exchange Department] at a meeting here organised by the sub-committee of the state level bankers committee (SLBC).

Kumar also stressed upon the need to compile authentic data of exporters in Uttarakhand, which has a tremendous scope for exports.

"Unless there is correct data, we cannot know which sector is facing what kind of problem," he said.

The main purpose of the meeting, Kumar said, was to understand the problems faced by exporters and provide solutions.

"We want to understand the problems of the exporters  so that we can come out with the solutions," Kumar said.

Kumar also advised the state government to activate its export promotion council which can facilitate exports for bringing foreign exchange.

He also called for identifying exports clusters in the state which he said would help in boosting exports.

Kumar also assured exporters that he would approach the central office to bring solutions to their problems.

Source : smartinvestor.in