As export volumes across varioussectorsdeclined in the pandemic year, only 62.11% of the export credit targets were met in the pandemic year. The export credit in 2020-21 stood at Rs 1,036 crore against a target of Rs 1,668 crore laid out in the service area credit plan (SACP) according to the latest report by state level bankers committee (SLBC).
Interestingly, barely 5% of the targeted accounts under SACP 2020-21 have sought credit, according to the SLBC report. Bankers said that export credit has gone down as exports across major sectors took long to recover in the subsequent quarters.