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  • Demonetisation: Sitharaman assures exporters of quick remedial measures

    Published on November 22, 2016

    nirmala

    New Delhi: Commerce and Industry Minister Nirmala Sitharaman has assured the exporters that a well compiled report will be taken to finance Ministry so that quick remedial measures can be offered. She was addressing media persons after a meeting in New Delhi yesterday, with the Export Promotion Councils, EPCs to review the impact of demonetization on exports.

    The Minister said, the organizations which attended the meeting were highly supportive of the decision taken by the government to demonetize currencies and the Industry feedback was very positive. She said, some of the Councils, particularly with high labour intensity, pointed out the problems resulting from lack of adequate liquidity in the short run.

    During the meeting, Commerce Secretary urged the EPCs to be more pro-active towards the need for adopting formal banking system by their employees and workers. The representatives wanted the weekly limit on withdrawals be increased from fifty thousand to up to 5 lakhs rupees.