ROLE OF RBI The Reserve Bank of India (RBI) provides export credit refinance facility to banks under Section

17(3A) of the Reserve Bank of India Act 1934, in order to encourage banks to extend more liberal export credit. This facility is given on the basis of banks' eligible outstanding rupee export credit both at the pre-shipment and post-shipment stages. The quantum of refinance is fixed from time to time based on the stance of monetary and credit policy of the RBI. All scheduled banks (excluding RRBs), which are authorised dealers in foreign exchange and have extended export credit are eligible to avail of the export credit refinance facility. Outstanding export credit for working out refinance limits, accordingly, includes export bills rediscounted with EXIM Bank/other banks/Financial Institutions and export credit against which refinance has been obtained from NABARD/EXIM Bank. However, it will not include Pre-shipment Credit in Foreign Currency (PCFC), export bills discounted/rediscounted under the scheme of 'Rediscounting of Export Bills Abroad' (EBR), overdue rupee export credit and other export credit not eligible for refinance. With the modified definition, the banks have the benefit of rediscounting export bills with institutions like EXIM Bank, without sustaining reduction in refinance limits from the RBI RBI extends the export credit refinance against the Demand Promissory Note (DPN) of banks supported by a declaration that they have been extended export credit and the outstanding amount eligible for refinance is not less than the loan/advance from the RBI.

ROLE OF ECGC: Export Credit Guarantee Corporation of India Limited, was established in the year 1957 by the Government of India to strengthen the export promotion drive by covering the risk of exporting on credit. Being essentially an export promotion organization, it functions under the administrative control of the Ministry of Commerce & Industry, Department of Commerce, Government of India. It is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, insurance and exporting community. ECGC is the fifth largest credit insurer of the world in terms of coverage of national exports. The present paid-up capital of the company is Rs.800 crores and authorized capital Rs.1000 crores. ECGC help exporters in the following manner: It offers insurance protection to exporters against payment risk. It provides guidance in export related activities. It makes available information on different countries with its own credit ratings. It makes it easy to obtain export finance from banks/financial institutions. It assists exporters in recovering bad debts.
It provides information on credit-worthiness of overseas buyers.

EXPORT ASSISTANCE AND INCENTIVES Export Assistance and Incentives is a financial help given by the government

to Indian Exporters to improve their ability to compete in foreign markets. There are many policies /schemes introduced by the government for export assistance and incentives. The scheme selected for the product electronic wallet is Duty Draw back scheme. Through these scheme the exporters is eligible to get refund of custom duty paid on materials, components and consumable utilized in the manufacture of finished goods. Procedure to claim Duty Drawback:
1) Application:

The exporter has to submit his application to the

nearest Customs House. The data is verified by the customs officers.

2) Time to apply: After the Customs Officer has given let ship order

the exporter should apply within 60 days.

3) Necessary documents

A copy of commercial invoice duly certified by the bank. A copy of bill of lading (non negotiable). A copy of shipping bill (Drawback Copy). A copy of brand letter, if possible. Any other document.

4) Refund of Drawback: In this process include the filling of the Green

shipping Bill itself is an application for grant of drawback duty. If the documents are in order, cheques are issued to the exporter.
NICHE MARKETING

Our product will adopt these marketing strategies because it mainly focus on power cut driven areas. Niche marketing is the form of concentrated marketing strategy. It is concentrating on a market segment that is not satisfactory served or which is ignored by the major international players. This strategy avoids a direct ad immediate competition with major companies in the global market. There may be niche markets with virtually no competition A number of Indian companies have used niche marketing strategy for into a foreign market in case of niche marketing, there is a high margin of profit While selecting a niche market, the company should ensure that: 1- To niche market should have sufficient size to make it profitable and growth potential 2- These should not be much competition and other major competition should not be interested in it. 3- The company should have capabilities to serve the segment efficiently 4- The company should be capable of defending its domain 5- When niche market becomes profitable, it may likely to attract more and more competition. Therefore, the company should maintain its dominance by innovation and maximum customer satisfaction