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Fast track clearance of export Credit:

a) At specialized breaches and branches having sizeable export business, a facilitation mechanism for assisting exporter-customers should be put in place for quick initial scrutiny of credit application and for discussions for seeking additional information or clarifications.

b) Banks should streamline their internal systems and procedures to comply with the stipulated time limits for disposal of export credit proposals and also endeavour to dispose of export credit proposals ahead of the prescribed time schedule. A flow chart indicating chronological movement of credit application from the date of receipt till the date of sanctions should also accompany credit proposals.

c) Banks should delegate higher sanctioning powers to their branches for export credit.

d) Banks should consider reducing atleast some of the intervening layers in the sanctioning process. It would be desirable to ensure  that the total number of layers involved in decision making in regard to export finance does not exceed three.

e) Banks should introduce a system of "Joint Appeal" by officials at branches and administrative offices, to facilitate quicker processing of export credit proposals.

f) Where feasible, banks should set up a "Credit Committee" at specialized branches and at administrative offices, for sanctioning working capital facilities to exporters. The "Credit Committee" should have sufficiently higher sanctioning powers.

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