The Minister assured full support of the banking system to exporters and said banking scenario in the country has significantly improved with the presence of 12 public sector banks, 22 private banks, 46 foreign banks, 56 regional rural banks, 1485 urban cooperative banks and 96000 rural cooperative banks. He further said that RBI has enhanced the limit for classification of export credit under priority sector lending to Rs 40 Crore from Rs 25 Crore.
The Banking Conclave in Mumbai today focused on the role of banks as key catalysts for exports, export trade related banking guidelines and their impact on exports, export finance and export bill discounting issues etc.
Shri Khalid Khan, Vice President FIEO listed various challenges faced by exporters and asked intervention of relevant authorities. The Union Minister assured to convene a joint meeting of various export organizations, Bank CMDs and other stakeholders in near future to resolve the issues.
The conclave was attended by senior officials of the banking sector including CEO and MD of UCO Bank and IBA Chairman Shri Atul Kumar Goel, CEO & MD of Canara Bank Shr L V Prabhakar, CEO & MD of Bank of Baroda Shri Sanjiv Chadha, CMD, ECGC Shri Senthilnathan and Shri R S Amar, Head of RBI’s Foreign Exchange Department among others. Nearly 150 exporters from MSME and non-MSME sector were also present.