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December 14, 1968 For export credit to be effective, procedural formalities have to be minimised. In making their quotations exporters have to take into account in advance the various benefits which they will get against their exports. Certainty of financial assistance at a known rate of interest will enable them to quote for capital goods indicating definite payment schedules to importers. At present, including under the new scheme, exporters have to deal with at least three institutions