Exporters, industry bodies knock on RBI's door for US tariff buffer

Exporters and industry bodies sought RBI relief including moratoriums, relaxed NPA norms, and REER settlements to counter the impact of 50 per cent tariffs by the US

Major export organisations and industry associations met Reserve Bank of India (RBI) Governor Sanjay Malhotra on Thursday and sought several relaxations to mitigate the adverse impact of the 50 per cent tariff imposed by the US on a 

majority of Indian products. 

Their demands included a  one-year moratorium on loan  repayments, a collateral-free credit scheme, relaxation of non performing asset (NPA) norms, and  extensions on due dates without penalties.

 

During the two-hour meeting in Mumbai, the industry bodies and exporters also proposed that the central bank allow settlement of exports at the real effective exchange rate (REER), instead of the normal