It also directed banks have to ensure that exports are carried out within the stipulated time frame for which loans have been given.
"...banks are advised to efficiently follow up with the concerned exporters in order to ensure that export performance (shipments in case of export of goods) are completed within the stipulated time period," RBI said in a statement.

Direction has been issued based on its assessment that there is substantial increase in the number and amount of advances received for exports remaining outstanding beyond the
stipulated period on account of non-performance of such exports (shipments in case of export of goods).

"It is further reiterated that banks should exercise proper due diligence and ensure compliance with KYC and AML guidelines so that only bona-fide export advances flow into India," it said.
"Doubtful cases as also instances of chronic defaulters may be referred to Directorate of Enforcement (DoE) for further investigation," it said.
A quarterly statement indicating details of such cases may be forwarded to the concerned Regional Offices of RBI within 21 days from the end of each quarter, it added.

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