Interest Equalization Scheme Extended for MSME Exporters Till 30.09.24; Annual Subvention Capped at Rs. 10 Cr. per IEC | RBI
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- Last Updated on 23 September, 2024
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Circular No. RBI/2024-25/76 DOR.STR.REC.44/04.02.001/2024-25, Dated: 20.09.2024
Earlier, the Government allowed for an extension of the Interest Equalization Scheme for Pre and Post-Shipment Rupee Export Credit Scheme from September 1, 2024, to September 30, 2024. The Government has now clarified that the extension applies only to MSME manufacturer exporters.
Further, the annual net subvention amount is capped at Rs 10 crore per importer-exporter code (IEC) for a given financial year. Accordingly, a cap of Rs 5 crore per IEC for MSME manufacturer exporters is imposed till September 30, 2024, for the financial year starting from April 1, 2024.
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