Rupee Export Credit Interest Rate Subvention Scheme Extension to other sectors


January 14, 2013

Rupee Export Credit – Interest Subvention

In exercise of the powers conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, in partial modification of directive DBOD.Dir.(Exp).BC.No.111 / 04.02.001 /2011-12 dated June 19, 2012, hereby notifies as under:

It has been decided to widen the scheme to include certain items covering the Engineering Sectors. The Scheme will be made available to the Engineering Sector on pre and post shipment export credit on the same terms and conditions as available to other sectors. A list of 134 tariff lines of Engineering products approved for inclusion in Interest Subvention for the period January 1, 2013 to March 31, 2013 is enclosed as Annex I.

Further, it has also been decided to extend the 2% Rupee Export Credit Interest Rate Subvention Scheme for the following sectors w.e.f. April 1, 2013 to March 31, 2014 on the same terms and conditions:

1. Handicrafts
2. Carpet
3. Handlooms
4. Small and Medium Enterprises (SMEs) (as defined in Annex II)
5. Readymade Garments
6. Processed Agriculture Products
7. Sports Goods
8. Toys
9. 134 Tariff lines on Engineering Goods (as per Annex I)

Executive Director

Encl: As above

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