CURRENT AFFAIRS

Detailed explanation-1: -The sanction of fresh/enhanced export credit limits should be made within 45 days from the date of receipt of credit limit application with the required details/information supported by requisite financial/operating statements.

Detailed explanation-2: -Service Enterprises - Bank loans up to Rs 5 crore per unit to Micro and Small Enterprises and Rs 10 crore to Medium Enterprises engaged in providing or rendering of services and defined in terms of investment in equipment under MSMED Act, 2006.

Detailed explanation-3: -Query 17: What is the permissible cap for export credit under priority sector lending? Incremental export credit over corresponding date of the preceding year, up to 2 per cent of ANBC or CEOBE whichever is higher, subject to a sanctioned limit of up to ₹40 crore per borrower.

Detailed explanation-4: -The Reserve Bank of India regulates provision of export credit by the commercial banks in India, both Indian and foreign, through stipulating some minimum proportion of their total lending to be provided as export finance.