Exporters advised to opt for other currencies

Hyderabad, Dec 14 (UNI) To tide over the crisis following rupee appreciation against US Dollar, the Indian exporters should opt for other currency like Euro for exchange, Reserve Bank of India (RBI) Deputy General Manager Dorai Rajan said today.

Addressing a banker's committee meeting on export promotion here, he said the RBI had come out with several measures to help the small and medium entrepreneurs to tide over the crisis.

He said the RBI had given guidelines to the banks to provide timely and adequate credit to the exporters.

To address various issues relating to customer service to the exporters, the RBI had constituted a working group in May 2005 consisting of select banks and exporters, he said and added that the group had come out with a comprehensive set of recommendations, most of which had been accepted.

Andhra Bank Executive Director Kalyan Mukherjee said the issues relating to export finance would be taken up by a sub-committee of state level bankers' committee.

UNI