Vidarbha Industries Association EXIM Forum and Bank of India (BOI), Nagpur Zone jointly conducted an “Exporters Meet” for Exporters of the region recently at VIA Auditorium, Nagpur.
Raghvendra Kumar, General Manager – FBD, BoI (HO), Mumbai addressed the participants via webex and informed about the various facilities for Exporters and development regarding online model for streamlining the process of Export finance.
Santhosh S, presently heading Nagpur Zone as Zonal Manager, covered all the facets of foreign trade related matters with special emphasis on Export viz. Export Finance, Buyers Credit Against Bank Guarantee, Bank Guarantee/SBLC, Gold Card Scheme for Exporters, Ancillary Services like remittances.
He elaborated the two types of Export Finance viz. Pre and Post Shipment Finances. Pre-Shipment Finance covers Packing Credit in Rupees, Packing Credit in Foreign Currency, Advances against incentives receivable from the Govt and Advances against duty-drawback.
Post-Shipment Finance covers Purchase and discount of Export Documents under confirmed orders, Negotiation / payment / acceptance of documents under L/C, Advances against Export Bills sent for collection, Export Bills rediscounted in Foreign Currency.
Earlier, Girish Deodhar, Chairman of VIA MSME Forum welcomed the speakers and briefed about the activities of the VIA and further said session is beneficial for exporters.
Further he added VIA is passionately working for the economic growth of Vidarbha region. The MSME Ministry has changed the definition of MSME which has increased the size of industries in terms of capital investments and turnovers. Naresh Jakhotia, Treasurer of VIA made the opening remarks and also proposed a formal vote of thanks.
Prominently present were Birendra Gupta, AGM (SMECC Nagpur), BOI & Sanjay Kadam, AGM, BOI Nagpur Main Branch. Representatives of exporting units were Amit Lal & Satish Lathi from Tapadia Polyesters Pvt ltd., Damodar Tiwade, Vidarbha Spices, Archana B & Rajesh from Solar Group, Shamlex Metachem Pvt Ltd., Sandeep Metalcraft Pvt Ltd., Reachbetter Impex, Kothari Gems & Jewellers, Jai Laxmi Rice Industries also attended by prospective exporters, in large numbers and took advantage of the meet.