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RBI Team To Visit Moreh

IMPHAL, May 7: A four member team of officials of Reserve Bank of India, Foreign Exchange Department headed by DGM A Bhaskara Rao would visit Moreh tomorrow.

The RBI team would convene a meeting of traders, importers and exporters of Moreh on May 9 at the Moreh Trade Centre.

Later in the evening, another meeting of traders, ex- porters and importers of Manipur would be held at Classic Hotel here.

The RBI team is expected to be accompanied by officials of other public and private sector banks.

United Bank of India is coordinating the program-me with the help of Government of Manipur.

A team of UBI officials headed by Chief Manager Ananda Kumar would also visit Moreh along with the RBI team.

The RBI team would take stock of logistics and infrastructure at Moreh and also visit UBI Moreh Branch, which is a B category authorized dealer of foreign exchange.

This UBI branch is authorized for monitoring barter trade in the Moreh border for import and export of goods of value above $ 1000 to $ 20,000.

Besides barter trade, other normal trade is also allowed through Moreh Land Customs Station but so far no normal trade except the barter trade through banking channel is materialized.

The RBI officials would analyze the bottlenecks of formal trading through Moreh border and would take stock of the weaknesses of the banking channel, if any, conveyed a press release issued by the United Bank of India.

(Courtesy: The Sangai Express)

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