Kochi:
The Reserve Bank of India (RBI) is likely to permit exporters
with a good track record to raise dollar-denominated loans
at a special interest rate that is internationally competitive.
"The RBI is working on this plan to come out with
a lower interest rate for those exporters who have a good
track record," said Mr L. Mansingh, the Director-General
of Foreign Trade (DGFT).
Mr
Mansingh said the DGFT has taken up with the RBI the issue
of lack of sufficient foreign exchange for exporters,
despite the country's forex reserves crossing $ 100 billion.
Exporters have been demanding relaxed norms for raising
foreign exchange in view of the appreciation of rupee
against dollar.
Speaking
at a function organised by the Cochin Chamber of Commerce
and Industry yesterday, Mr Mansingh said the DGFT
is considering a slew of proposals to help those exporters
who have established credentials in compliance with rules
and regulations.
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