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RBI announces measures to enhance foreign trade sector liquidity

May 22, 2020 14:41 IST

In order to support the foreign trade sector, the RBI on Friday announced measures that include a line of credit of ₹15,000 crore to the EXIM Bank for 90 days to enable it to avail US dollar swap facility. It has decided to extend the time for completion of remittances against imports from 6 months to 12 months for imports made before July 31, 2020. The Central Bank has also increased the maximum permissible period of export credit from the existing one year to 15 months.