In line with RBI guidelines, the Bank has framed a scheme for issue of Gold Card to exporters with good track record for easy availability of export credit. The highlights of the scheme are as under:
1. Gold Card holder exporters, depending on their track record and credit worthiness will be granted better terms of credit including rates of interest than those extended to other exporters.
2. Applications for credit will be processed at simpler and faster processing norms.
3. A standby limit of 20% of the sanctioned limit will be additionally provided to facilitate urgent credit needs for executing sudden orders in all the well conducted accounts.
4. In case of unanticipated export orders beyond the projections, additional export finance shall be provided as quickly as possible taking in to account the size and nature of order and the conduct of the account.
5. The performance of the exporters shall be reviewed on yearly basis.
6. Gold Cardholders will be given preference for grant of packing credit in foreign currency (PCFC) subject to availability of foreign currency resources.
7. Collateral security / Buyer wise ECGC cover for post-shipment credit may not be insisted upon for Gold Card holders where:
- Exporter has a satisfactory track record for the past 3 years.
- Items of export fall within the products normally dealt by the Exporter in its usual course of business.
- Minimum credit risk rating should be CBI - V.
- Bank is having satisfactory status report of the overseas buyer.
- Overseas buyer is of a country whose country risk rating as per ECGC categorization should not be below B1.
NOTE: EXPORTERS MAY CONTACT HOME BRANCH TO AVAIL BENEFITS UNDER THIS SCHEME