What does WTPCG mean in UNCLASSIFIED
Whole Turnover Packing Credit Guarantee (WTPCG) is a financial service provided by banks to businesses engaged in export transactions. It provides credit against exports made by the applicants, so they can easily manage their finances and reduce their working capital requirements.
WTPCG meaning in Unclassified in Miscellaneous
WTPCG mostly used in an acronym Unclassified in Category Miscellaneous that means Whole turnover Packing Credit Guarantee
Shorthand: WTPCG,
Full Form: Whole turnover Packing Credit Guarantee
For more information of "Whole turnover Packing Credit Guarantee", see the section below.
Essential Questions and Answers on Whole turnover Packing Credit Guarantee in "MISCELLANEOUS»UNFILED"
What is WTPCG?
WTPCG stands for Whole Turnover Packing Credit Guarantee. It is a financial service provided by banks to businesses engaging in export transactions which enables them to receive credit against exports made by the applicant.
What are the benefits of WTPCG?
WTPCG provides access to increased credit limits, low interest rates and flexible repayment terms. Additionally, it helps manage cash flows and finance overheads, as well as saves foreign currency that would otherwise be spent on imports.
Who can avail this service?
This service is available for businesses registered with the Directorate General of Foreign Trade (DGFT) for Export of goods or services outside India only. Additionally, the business must have a turnover of at least Rs 1 crore in any year preceding the last 3 financial years for eligibility.
Are there any costs associated with obtaining WTPCG?
Banks charge processing fees for obtaining this service, along with applicable government taxes and duties. Further, some documentation might be required from applicants including audited balance sheets and copies of income tax returns etc.
Final Words:
WTPCG is a great way to get access to capital while trading goods and services abroad while receiving various benefits such as low-interest rates and flexible repayment terms. Any business registered under DGFT who has a turnover of at least Rs 1 crore in any year preceding the last 3 financial years can avail this service on paying applicable fees and charges along with submission of documents such as audited balance sheets etc.,