Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Finance Minister Announces Revised Priority Sector Lending Scheme for Exporters

Nirmala Sitharaman said the initiative is expected to cost Rs 1,700 crore annually and will enable reduction in overall cost of export credit including interest rates, especially to MSMEs.

PTI

Updated:September 14, 2019, 5:19 PM IST
facebookTwitter Pocket whatsapp
Finance Minister Announces Revised Priority Sector Lending Scheme for Exporters
File photo of Finance Minister Nirmala Sitharaman.

New Delhi: Finance Minister Nirmala Sitharaman on Saturday announced revised priority sector lending (PSL) norms for exporters which will release an additional funding of Rs 36,000 crore to Rs 68,000 crore to them.

PSL norms for export credit have been examined and enabling guidelines are under consideration of the Reserve Bank of India, she said.

"This will release an additional Rs 36,000 crore to Rs 68,000 crore as export credit under priority sector," Sitharaman told reporters here.

She also said export finance will be actively monitored by an inter-ministerial working group in the Department of Commerce. Also, Export Credit Guarantee Corporation (ECGC) will expand the scope of export credit insurance scheme.

The minister said the initiative is expected to cost Rs 1,700 crore annually and will enable reduction in overall cost of export credit including interest rates, especially to MSMEs.

She also announced that Free Trade Agreement (FTA) Utilisation Mission would be set to help exporters optimally utilise the concessional tariffs under trade pacts which India has signed with several countries.

Besides, annual mega shopping festivals will be organised in the country at four places focusing on sectors like handicraft, yoga, tourism, textiles and leather.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
SBI 313.80 -0.05
Bharti Airtel 513.10 0.76
HUL 2,055.00 -0.37
Quess Corp 567.70 0.21
Vodafone Idea 5.78 18.93
Top Gainers
Company Price Change %Gain
HDFC 2,475.75 0.83
Bharti Airtel 513.20 0.78
ONGC 123.20 0.69
IndusInd Bank 1,340.40 0.63
UltraTechCement 4,487.25 0.45
Top Losers
Company Price Change %Gain
Asian Paints 1,806.00 -2.30
Power Grid Corp 200.40 -2.15
Tata Steel 480.75 -2.02
M&M 556.50 -1.87
ITC 238.50 -1.41

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results