India

In an effort to reduce the transaction costs of exporters and make them more competitive in the global market, the Commerce Ministry is preparing a green channel facility for law-abiding exporters.

The Dutch bank is extending its 'Channel Finance' service to small- and medium-sized Indian businesses. This provides clients with greater access to working capital, based on the risk profile of their supply chain.

Public sector banks have finalised the formula for arriving at the new benchmark prime lending rate (PLR) as prescribed by the Reserve Bank of India. Syndicate Bank is among PSU banks expected to shortly announce the new rates on this basis.

Export Credit Guarantee Corporation of India Ltd (ECGC) has paid seven large value guarantee claims totalling Rs31.10 crore due to the failure of exporters to repay export credit advances to banks.

A year ago, the banks were given tough new powers to foreclose on the assets of bad debtors under new legislation known as the "securitisation law". But this has now been challenged.

The average export growth of around 10 per cent during the April-October period augurs well despite the hardening of the rupee.

The Export Credit Guarantee Corporation (ECGC) has signed a Memorandum of Understanding (MoU) with Tamil Nadu-based Karur Vysya Bank Ltd, to enable the ECGC to route marketing of its export credit/risk insurance products through the bank under the

The State Bank of India (SBI) has made credit to borrowers in the small-scale industries (SSI) and agriculture sectors cheaper by around 25 -100 basis points in some segments, effective 1 November.

It was announced today that one of the leading figures in global factoring, Veena Mankar, will step down as managing director of Global Trade Finance (GTF), the fourth largest factoring company in India, at the end of this month.

The Reserve Bank of India’s (RBI) 7 per cent GDP growth is not achievable if banks are not prepared to take risks and lend to first-generation entrepreneurs, say industry players.