Interest Rate Ceiling on Rupee Export Credit

No.CLE/POL/RBI/2009

29th October 2009

Dear members,

Sub : Interest Rate Ceiling on Rupee Export Credit

Members are kindly aware that in the Budget announced on 6th July 2009, 2% interest subvention for the leather sector was continued till 31st March 2010 from the earlier deadline of Sept. 30,2009.
RBI has now issued a Circular No.RBI/2009-10/197 dt. 28th October 2009 whereby the interest rate stipulated at BPLR minus 2.5 per cent on pre-shipment rupee export credit upto 270 days and post-shipment rupee export credit upto 180 days applicable for all exporters is extended upto 30th April 2010.

Therefore, members can avail the benefit of reduced interest rates @ BPLR minus 4.5% till March 31, 2010 .

This is for kind information of Members. The above-mentioned RBI Circular is attached for reference of Members.

With regards

Ali Ahmed Khan
Executive Director