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Measures announced by RBI will help India’s stressed Export Sector says Trade Promotion Council of India

Increasing the time of Outward remittance from 6 months to 12 months, will surely help the Exporters as they will have the longer payment time. The loan moratorium increase from 3 months to 6 months is a very welcome move allowing an exporter with wider window to manage financial conditions better.

The measures will ease the pressure from borrower of one-time accumulated payment by increasing the payback

Chairman Trade Promotion Council of India Mohit Singla was commenting on the announcements made by the RBI governor on May 22 nd

The financially stressed exporters will benefit from unforeseen circumstances beyond control, on account of importers inability to pay within 6 months and thus causing offence in India. .

RBI measures like the swap facility for Exim banks etc will solve the working capital woes for the traders to a considerable extent

Further, Mr.Singla said, “Extending the swap facility for Exim banks, extension of import payments from 6 month to 12 month and increasing the exporters' length of credit to 15 months from one year are the much needed steps which will solve the working capital woes for the traders to a considerable extent. The measure will ease the pressure of making immediate payment.”

The Monetary Policy Committee (MPC) decision to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 40 bps to 4.0 per cent from 4.40 per cent will result in smooth liquidity for short term and will help in keeping consumer price regulated, Singla added.

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