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AEPC wants separate chapter for exporters in banks
A separate chapter for exporters in the banking sector has been demanded by an apex exporters' body for apparel and garments. The Padmanabhan committee, which was constituted by RBI has also recommended this sector to be covered under the priority sector lending.

Apparel Export Promotion Council (AEPC) has put a request for a separate chapter for pre/ post packing credit rate of 7.5 percent before the Central Bank, according to a report by SME Times.

In a press statement, AEPC Chairman Virender Uppal requested Government to revise the interest rates downwards. He said that RBI should consider this favorably so that momentum of garment export growth is not lost.

As the garment exporters are trying hard to meet the target set by the Government, RBI should notify extension of the 3 percent interest subvention which has expired on 31st March 2014, AEPC's Chairman also demanded.

The textiles exporters were not very happy with the monetary policy announcement made by the RBI on Tuesday. The first bi-monthly Monetary Policy Statement for the year 2014-15 kept the key rates like repo rate, CRR, Bank Rate unchanged.

Chairman AEPC expressed his concerns that the momentum of the garment export growth may be slowed down further with the increase of rupee strengthening over dollar.


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