Mumbai: To boost trade credit insurance penetration in the trade finance line of business, the Indian Banks’ Association has sought assistance from the Reserve Bank of India (RBI) in facilitating capital relief for banks and financial institutions (FIs), which is seen as a significant obstacle hindering the growth of trade credit insurance backed trade finance products such as factoring and bill discounting.
The Indian Banks’ Association has approached the Reserve Bank of India (RBI) to facilitate capital relief for banks and financial institutions (FIs) in order to boost trade credit insurance penetration in the trade finance line of business. This move is expected to propel forward factoring and bill discounting products that are backed by trade credit insurance.
