NEW DELHI: As many as 12 railways rakes, carrying round 2,400 tonnes of wheat every in a complete of 504 wagons, headed for Bangladesh, have been stranded for the previous a number of days following imposition of extreme management on its export final month by the federal government. The exporters, who're sending these consignments to the neighbouring nation, are ready for registration certificates (RC) from the regional authorities (RA) below the Directorate Basic of International Commerce (DGFT), sources mentioned.
Sources within the railway ministry mentioned they're dealing with a precarious scenario of stranded wagons when there's a large requirement of those for transporting different important commodities by rail. Such wagons are additionally used for transport of different gadgets, together with fertilizer. “Efforts are being made to expedite the method in order that the trains can begin operating and we get again the empty wagons to hold different supplies,” mentioned a supply within the railway ministry.
Corroborating this, authorities sources mentioned all Letter of Credit (LCs) are being verified by the advising banks to eradicate any chance of fraud and after that the RCs will likely be issued.
On Might 30, the DGFT had issued tips to all RAs, directing them for strict compliance earlier than their issuance to the eligible exporters with a view to stop fraudulent practices, resembling submission of false paperwork by shady merchants. It had mentioned that the RAs will do a bodily verification of all LCs, whether or not already permitted or below course of and for that if needed, assist of knowledgeable company could also be taken. Whereas doing bodily verification, validation or endorsement of recipient banks could also be ensured.
Quickly after saying the curb of free export of wheat on Might 13, the DGFT had requested the RAs for rigorous adherence earlier than issuing RCs to qualifying exporters. These directions had been issued after receiving info from sources that some unscrupulous exporters had been submitting false back-dated LCs with dates of issuance on or earlier than Might 13 for RCs.
Sources within the railway ministry mentioned they're dealing with a precarious scenario of stranded wagons when there's a large requirement of those for transporting different important commodities by rail. Such wagons are additionally used for transport of different gadgets, together with fertilizer. “Efforts are being made to expedite the method in order that the trains can begin operating and we get again the empty wagons to hold different supplies,” mentioned a supply within the railway ministry.
Corroborating this, authorities sources mentioned all Letter of Credit (LCs) are being verified by the advising banks to eradicate any chance of fraud and after that the RCs will likely be issued.
On Might 30, the DGFT had issued tips to all RAs, directing them for strict compliance earlier than their issuance to the eligible exporters with a view to stop fraudulent practices, resembling submission of false paperwork by shady merchants. It had mentioned that the RAs will do a bodily verification of all LCs, whether or not already permitted or below course of and for that if needed, assist of knowledgeable company could also be taken. Whereas doing bodily verification, validation or endorsement of recipient banks could also be ensured.
Quickly after saying the curb of free export of wheat on Might 13, the DGFT had requested the RAs for rigorous adherence earlier than issuing RCs to qualifying exporters. These directions had been issued after receiving info from sources that some unscrupulous exporters had been submitting false back-dated LCs with dates of issuance on or earlier than Might 13 for RCs.
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