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Red sea crisis India: Show sensitivity to exporters in view of Red Sea crisis: Finmin to PSU banks

Financial Services Secretary Vivek Joshi has urged public sector banks and insurance companies to handle trade finance and insurance cases sensitively amid the Red Sea crisis. Due to longer shipping routes, exporters face higher trade finance and insurance costs. Joshi emphasized the importance of dealing with these issues with sensitivity to avoid denial of services. The Bab-el-Mandeb Strait crisis has led to increased shipping costs and delays, impacting Indias merchandise trade with Europe.
Mediterranean Sea Oceans General Red Sea Djibouti General Indian Ocean Bab El Mandeb Strait

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