Online payment facility for application fee will reduce transaction cost and time: FIEO
Updated: Jul 10, 2015 12:53:30pm
New Delhi, July 10 (KNN) Welcoming the launch of online payment facility for application fee through credit/debit cards, Federation of Indian Export Organsiations (FIEO) said that the launch of cost effective facility will help in reducing the transaction cost and time through elimination of manpower deployed for making physical demand drafts/challans.
S C Ralhan, President, FIEO said that the new procedure also envisages streamlining of the refund of application fee, where payment was made erroneously, which under the manual mode was taking months to get the refund.
FIEO said that this small but effective and pro-active measure along with the steps taken in reducing export-import documents from 7 and 9 respectively to 3 only along with a various initiatives on digitalization and EDI undertaken in the new Foreign trade Policy will definitely help in improving India’s ranking in “Trading across Border “segment of Doing Business Report of the World Bank.
Directorate General of Foreign Trade (DGFT), on Thursday, launched the facility of online payment of application fees through Credit/Debit cards and electronic fund transfer from 53 Banks. (KNN Bureau)
S C Ralhan, President, FIEO said that the new procedure also envisages streamlining of the refund of application fee, where payment was made erroneously, which under the manual mode was taking months to get the refund.
FIEO said that this small but effective and pro-active measure along with the steps taken in reducing export-import documents from 7 and 9 respectively to 3 only along with a various initiatives on digitalization and EDI undertaken in the new Foreign trade Policy will definitely help in improving India’s ranking in “Trading across Border “segment of Doing Business Report of the World Bank.
Directorate General of Foreign Trade (DGFT), on Thursday, launched the facility of online payment of application fees through Credit/Debit cards and electronic fund transfer from 53 Banks. (KNN Bureau)
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