SBI to revise export transactions related service charges from September 1

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Updated: July 26, 2019 12:51:25 AM

SBI said the export related service charges are being rationalised "to improve the ease of doing business and provide clear visibility of cost structure to exporters".

SBI, export transactions, service charges, State Bank of India, largest bank, banking newsThe revised charges will be applicable from September 1, the country’s largest bank said in a statement. (Reuters)

State Bank of India (SBI) on Thursday said it will revise export transactions related service charges to provide clear visibility of cost structures to traders. The revised charges will be applicable from September 1, the country’s largest bank said in a statement. From September 1, export transactions related service charges will be segregated in two major segments — export credit customers and non-export credit customers.

Charges would be further bifurcated for MSME and non-MSME customers, it added. Also, export transactions related service charges for export credit customers will be fixed at 0.1 per cent per annum (excluding GST) of export credit limit, to be recovered at the time of sanction/renewal of the limit.

SBI said the export related service charges are being rationalised “to improve the ease of doing business and provide clear visibility of cost structure to exporters”. While revising the charges, SBI has taken into consideration the views and representations from various export promotion councils, the statement added.

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