RBI EXTENDS FOREX BEN- EFITS TO CREDIT RISKS SETTLED BY PVT. PLAYERS

In a relief to exporters, the Reserve Bank of India has said that credit insurance claims settled by private insurers would qualify for compliance with foreign exchange obligations. So far, only claims settled by the Export Credit Guarantee Corporation (ECGC) were considered for discharging forex
obligations in case a payment from the overseas buyer was not received by an exporter.