Exporters Express Worry Over Low Credit Supply

.....The credit flow should be ensured, then only the exports would be positive...Last month they were negative. The bankers have to have a look at it," he said, adding that apart from driving up credit, others issues such as relaxation in rebooking or cancellation of forward contracts and curbs on the exporter earners' foreign currency account (EEFCs) were also discussed at the meeting. With the rupee touching an all time low of Rs 56.60 to the dollar today, the issue was discussed during the meeting, and exporters asked for measures to bring some stability in the currency by checking the volatility, Ahmed said. RBI Deputy Governor H R Khan chaired the meeting, and several top officials from banks including Bank of Baroda, Bank of India, Standard Chartered Bank and dedicated agencies such as Exim Bank and ECGC (Export Credit Guarantee Corporation) were present.

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