In a major boost for the export industry, the RBI has allowed banks to provide loans with tenures of up to 10 years. These loans will help exporters in ensuring capital flows to fulfil long-term contracts. Existing norms allow banks to give loans for up to one year only. In a notification issued from Mumbai on Wednesday, RBI has said that this relaxation is being provided in view of requests received from exporters. RBI has said that banks can extend this facility to exporters having a minimum of three years' satisfactory track record. This facility will be available with certain conditions, including irrevocable supply orders in place.Besides, exporters receiving loans of 100 million US Dollar or above need to report the transaction immediately to the RBI