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Our Bureau

New Delhi , May 17

THE PHD Chamber of Commerce and Industry (PHDCCI) has suggested that the Reserve Bank of India (RBI) may prescribe maximum ceiling on export interest rate in absolute term instead of linking it with the prime lending rate (PLR).

In its suggestions for the slack season monetary and credit policy (2004-05), the chamber said that the RBI should give clear guidelines for providing pre and post shipment finance at liberal norms to facilitate exports.

Further, the chamber suggested the RBI to advise the banks not to insist on collateral security so that genuine exporters having confirmed letter of credits (L/Cs) get the required credit.

More Stories on : Industry Associations | Exports & Imports | RBI & Other Central Banks | Interest Rates

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