BANKS CAN GET REFINANCE IN FOREIGN CURRENCY IF THEY ON-LEND TO SMALL UNITS

Export-Import Bank of India is ready to give commercial banks refinance in foreign currency if they on-lend to export-oriented small and medium enterprises in the manufacturing sector. The development finance institution has got the board's approval to lend $500 million to banks so that they on-lend to MSMEs for technological up-gradation.