Saturday 15 December 2018
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business-standard - 9 days ago

Uncooperative attitude of bankers hurting exports: FIEO

Exporters body FIEO Thursday said the uncooperative attitude of state-owned bankers is hurting exports and it would not be possible to increase shipments without adequate credit support. Federation of Indian Export Organisations (FIEO) President Ganesh Gupta demanded quick resolution of bank credit issues to push the country s exports. PSU banks officials including MDs, EDs, GMs, AGMs are not accessible to exporters, particularly from the MSME sector. This has tightened the hands of these exporters to take orders as they are not able to discuss issues and challenges with regard to availability and cost of credit to the exports sector, he told reporters here. He added that the efforts of Commerce Minister Suresh Prabhu, who is taking several steps to promote exports, would not fructify if banks fail to lend adequate funds to exporters at affordable rates. While the government is pushing the Digital India initiative and paperless transactions, the banks are demanding bundles of ...

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