Govt. Extends Interest Equalization Scheme for Pre and Post-Shipment Rupee Export Credit Upto June 30, 2024 | RBI to Banks
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- Last Updated on 24 February, 2024
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Circular No. RBI/2023-24/124 DOR.STR.REC.78/04.02.001/2023-24; Dated: 22.02.2024
The Govt. has extended the Interest Equalization Scheme for Pre and Post-Shipment Rupee Export Credit Scheme up to June 30, 2024. The rate of interest equalization shall be 2% for Manufacturers and Merchant Exporters exporting under specified 410 HS lines and 3% for MSME manufacturers exporting under any HS line. Further, w.e.f FY 2023-24, banks that have priced loans covered under the scheme at an average interest rate higher than Repo rate + 4% would be subjected to certain restrictions.
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