RBI breather for trade: Higher export credit, more time to pay import bills

Exporters laud timely steps but want direct fiscal support, full package

The Reserve Bank of India (RBI) on Friday unleashed a series of relaxations for exporters and importers, including higher export credit, more time to pay for import orders and increased flexibility in repaying loans. The measures are expected to give the sector more time and liquidity to tackle the ongoing coronavirus crisis. But while exporters have lauded the measures as timely, their call for more government support and a detailed package continues.

The rare intervention in foreign trade norms by the RBI came after the central bank took note of the deepening contraction in global activity and trade, and agreed