The Vidarbha Industries Association EXIM Forum and Bank of India (BOI), Nagpur Zone jointly conducted an “Exporters Meet” for Exporters of the region recently at VIA Auditorium, Nagpur.
Addressing the participants via webex, Raghvendra Kumar, General Manager – FBD, BoI (HO), Mumbai, spoke about various facilities for exporters and development regarding online model for streamlining the process of export finance.
Santhosh S, Zonal Manager - Nagpur Zone, covered all the facets of foreign trade related matters with special emphasis on export viz. export finance, buyers credit against bank guarantee, bank guarantee / SBLC, Gold Card Scheme for exporters, ancillary services like remittances, etc. He urged the participants to take benefit of the schemes to boost exports. He elaborated the two types of Export Finance viz. Pre and Post Shipment Finances. Pre-Shipment Finance covers Packing Credit in rupees, Packing Credit in foreign currency, advances against incentives receivable from the Government and advances against duty-drawback. Post-Shipment Finance covers purchase and discount of export documents under confirmed orders, Negotiation / payment / acceptance of documents under L/C, advances against export bills sent for collection, export bills rediscounted in foreign currency.
Earlier, Girish Deodhar, Chairman of VIA MSME Forum welcomed the speakers and briefed about the activities of the VIA and further said session is beneficial for exporters. He also added that VIA is passionately working for the economic growth of Vidarbha region. The MSME Ministry has changed the definition of MSME which has increased the size of industries in terms of capital investments and turnovers. Naresh Jakhotia, Treasurer of VIA made the opening remarks and also proposed a formal vote of thanks.
Prominently present were Birendra Gupta, AGM (SMECC Nagpur), BOI; Sanjay Kadam, AGM, BOI Nagpur Main Branch and others.