Saturday, March 15, 2014

RBI may ease norms to reduce delays in payments to exporters

The Reserve Bank of India (RBI) is soon expected to simplify and streamline the payment process in the interest subvention scheme so that banks can credit the interest subsidy benefit upfront to exporters against quick reimbursement by the central bank/ government. The exports sector is currently struggling and the January data showed a modest growth of 3.79%.

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