PXL/HO/Cir-147/2021-22                                                                            Date: 10.03.2022

Hyderabad

Dear Sir/Madam,

Subject: Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit - Extension

We would like to inform member companies that the Council has made representation for extension of IES Scheme and Government has considered our request and the Interest Equalization Scheme (IES), has now been extended till 31st March, 2024 effective from 1^st October, 2021. The Scheme provides for interest subvention for Pre and Post Shipment Rupee Export Credit.

The rates for IES have been revised as 3% for MSMEs and 2% for manufacturers and merchant exporters of 410 tariffs specified lines.

The RBI Notification No. RBI/2021-22/180  DOR.STR.REC.93/ 04.02.001/2021-22 dated 8^th March, 2022 to this effect is attached for your reference (click-here-to-download).
 

With best regards,

Udaya Bhaskar

Director General