Steps taken by Department of Financial Services with regard to Disruption on account of Corona Virus.

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....eps taken by Department of Financial Services (DFS) with regard to Disruption on account of Corona Virus. It is to bring to the notice of all concerned that Department of Financial Services (DFS) has issued the following instructions vide their OM No.12/01/2020-BO.II dated 04.03.2020 in view of situation arising due to Corona virus (copy enclosed): a) All Public Sector banks (PSBs) have been adv....

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....nsurance products/policies so as to ensure risk cover against loss due to abnormal delay in delivery of shipments in the current scenario and that the terms and conditions of such policies may be allowed to be suitably modified wherever necessary. 2. All RA's/ All EPCs/Commodity Boards are therefore requested to bring it to the notice of all Exporters/Importers. 3. This issues with approval ....

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....l disruption caused due to the Corona Virus infliction. 2. In this context, the following action taken by the Department of Financial Services (DFS) may kindly be taken note of: a) An interaction titled "Contextual Challenges and Opportunities in Supply Chain of Exports and Imports" was held on 18.02.2020, wherein the Hon'ble Finance Minister interacted with all industry representatives con....

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....gard wherever possible and applicable, so that their funds can be remitted without any problems due to procedural deficiencies; and to identify opportunities for import substitution / ramping up of production as a fall out of the epidemic. and to provide the requisite hand-holding support to the units concerned. DFS has also written to the Insurance Regulatory and Development Authority of In....