New Delhi: Exporters' banking difficulties will be addressed by the Centre's specialised groups, said the Union Minister of State for Finance Dr Bhagwat Kishanrao Karad.
The minister announced the formation of various groups to address the problems raised by exporters and other stakeholders, including one on the challenges of e-commerce retail exports, at the 'Banking Conclave on Exports' organised by FIEO in Mumbai on Friday. The groups will include FIEO, leading banks, IBA, Ministry of Commerce and Ministry of Finance. He emphasised the role of the banking industry in promoting and supporting exports.
Dr Karad stated that many banking sector reforms have recently occurred, and that all banks have successfully implemented them. Furthermore, he stated that the Centre is committed to providing adequate support to the trade, and that the decision to prolong the Emergency Credit Line Guarantee Scheme (ECLGS) was made "on time."
Dr Karad went on to say that the government is open to discussions and meetings in order to better understand the problems that exporters confront in order to strengthen and promote the export sector.