Interest Subvention Scheme of 2.5 Percent on Export Credit
Extended to 30 April 2010
[Ref:
RBI/2009-10/197 – MPD.BC.326 /07.01.279/2009-10 dated 28 October 2009]
Sub: Interest Rate Ceiling on Rupee Export Credit
Please
refer to our circular No. MPD.BC.323/07.01.279/2008-09
dated April 28, 2009 in terms of which the ceiling on interest rates on
pre-shipment rupee export credit up to 270 days and post-shipment rupee export
credit up to 180 days has been stipulated at BPLR minus 2.5 per cent, valid up
to October 31, 2009.
2. It has been
decided to extend the validity of the above dispensation up to April 30, 2010
(Annex).
3. Kindly
acknowledge receipt.
|
Annex |
|
|
Category |
With effect from November 1, 2009 |
|
Pre-shipment Rupee Export Credit Up to 270 days |
Not exceeding BPLR minus 2.5 percentage
points |
|
Post –shipment Rupee Export Credit (a) On demand bills for transit period
(as specified by FEDAI) (b) Usance
bills up to 180 days |
Not exceeding BPLR minus 2.5 percentage
points Not exceeding BPLR minus 2.5 percentage
points. |