Specialised groups to address exporters' banking challenges: Minister

Centre's specialised groups will address banking challenges faced by exporters, said Union Minister of State for Finance, Dr Bhagwat Kishanrao Karad.

Speaking at the 'Banking Conclave on Exports' organised by FIEO in Mumbai on Friday, the minister announced formation of various groups to address the problems raised by exporters and other stakeholders consisting of FIEO, leading banks, IBA, Ministry of Commerce and Ministry of Finance including one on challenges of e-commerce retail exports.

He highlighted the importance of banking sector in promoting and facilitating exports.

He informed that several reforms related to the banking sector have taken place in the recent past, and all the banks have implemented it in a successful manner.

Besides, he said that the Centre is keen on extending the due support to the trade, and therefore the decision on the extension of Emergency Credit Line Guarantee Scheme (ECLGS) was taken "well in time".

Furthermore, he assured the government is open for discussions and meetings to understand the challenges faced by the exporters, so as to strengthen and support the export trade. -IANS