labels: banks & institutions
Exporters to get dollar loans at special rates news
Our Banking Bureau
05 March 2004

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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Exporters to get dollar loans at special rates