FIEO proposed to launch ‘e-wallet’

Mumbai: Federation of Indian Export Organisations (FIEO) has proposed the Government to launch the ‘e-wallet’ facility for the exporters of the country. The association believes that this will improve cash flow in the economy. Mumbai: Federation of Indian Export Organisations (FIEO) has proposed the Government to launch the ‘e-wallet’ facility for the exporters of the country. The association believes that this will improve cash flow in the economy. E-wallet, a running account cum an open, unsettled and revolving credit facility, can be used by both the buyer and the seller. If implemented, the e-wallets will resolve the liquidity problem for the exporters, states FIEO.

The facility will enable a buyer to continuously procure goods and services up to the (financial) limit agreed by the seller. This will help avoid delayed payments or accounting flaws.