Winding up of the State Level Export Promotion Committee (SLEPC) and constitution of a separate Sub-Committee under State Level Bankers’ Committee (SLBC)

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Winding up of the State Level Export Promotion Committee (SLEPC) and constitution of a separate Sub-Committee under State Level Bankers’ Committee (SLBC)

RBI/ 2004-2005/ 182
DBOD.IECS. NO. 43 /04.02.10/2004-05

September 17, 2004

The Chairmen/ Chief Executives of all Commercial Banks

Dear Sir,

Winding up of the State Level Export Promotion Committee (SLEPC) and constitution of a separate Sub-Committee under State Level Bankers’ Committee (SLBC)

Please refer to our letter IECD. No. 14/ 04.02.01/ 98-99 dated February 23, 1999 advising about the reconstitution of the captioned Committee

2. The matter regarding effective functioning of the SLEPCs in the States had been reviewed by us recently. In the light of several other fora available to the exporters to ventilate their grievances at the State level, it has since been decided, in consultation with the Government of India, to wind up the SLEPCs, reconstituted in terms of our circular letter dated February 23, 1999.

3. The exporters’ problems in relation to export finance and other bank related issues at the State level would, in future, be taken up by a Sub-Committee of the State Level Bankers’ Committee. Accordingly, this Sub-Committee, which will be known as "Sub-Committee of SLBC for Export Promotion", will include local exporters’ Associations, SBI and two/ three leading banks handling sizeable export business, DGFT, Customs, State Government (Department of Commerce and Industry and Department of Finance), EXIM Bank, ECGC, FEDAI besides RBI (Foreign Exchange Department and Department of Banking Supervision) at regional level, as members of the Committee. The Sub-Committee may meet at half-yearly intervals or earlier if considered necessary and the convenor bank of the SLBC will be the convenor of the Sub-Committee in the respective State and the meetings may be chaired by the Executive Director of the convenor bank. The secretarial assistance may be provided to the Sub-Committee by the International Banking Division/ Foreign Exchange Department at the Head Office of the bank acting as convenor, SLBC. The convenors are being advised to take necessary action including the arrangement of the first meeting latest by 31^st October, 2004.

Yours faithfully

(Y.D.Rao)

Chief General Manager