Senior advisor of Forfaiting & Syndication group of the Standard Bank London, D Ian Guild, told The Financial Express that the bank was concentrating on the promotion of forfaiting among Indian exporters.

"At present, we are trying to promote forfaiting or, as commonly said, `without recourse finance' among the Indian exporters, as a method of trade finance. If it goes off successfully we may introduce other services, like export finance too. However, that is far-fetched and I will not like to discuss about it," Guild said.

Forfaiting is a process of bill discounting whereby the forfaiting bank purchases, on a without recourse basis, unconditional debt obligations arising for supply of goods and services. Thisinstrument is not popular in India.

Exim Bank's deputy general manager, S Bhattacharya, said that forfaiting is still in its infancy in the country.