Notification on Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit -Extension (dated – 08.03.2022) – RBI.
View PdfNotification on Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit -Extension (dated – 08.03.2022) – RBI.
- The extended Scheme will not be available to those beneficiaries who are availing the benefit under any Production Linked Incentive (PLI) scheme of the government.
- For the period from October 1, 2021 to March 31, 2022, banks shall identify the eligible exporters as per the Scheme, credit their accounts with the eligible amount of interest equalisation and submit sector-wise consolidated reimbursement claim for the said period to the Reserve Bank by April 30, 2022.
- With effect from April 1, 2022, banks shall reduce the interest rate charged to the eligible exporters upfront as per the guidelines and submit the claims in original within 15 days from the end of the respective month, with bank’s seal, and signed by authorised person, in the prescribed format, as modified (Annex I).
- Other provisions of the extant instructions issued by the Bank on the captioned Scheme shall remain unchanged, refer attachment for further details.
