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Interest Equalization Scheme for Exporters on Pre and Post-Shipment Rupee Export Credit - Extended till 31.Mar.2021
 









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PXL/HO/Cir-021/2020-21                                                                        Date: 14.05.2020

Hyderabad

 

 

 

 

Dear Sir/Madam,

 

Subject: Interest Equalization Scheme for Exporters on Pre and Post-Shipment Rupee Export Credit - Extended till 31.Mar.2021

 

We would like to inform member companies that Pharmexcil wide its letter dt:11.April.2020 has represented to the Reserve Bank of India seeking an extension of the Interest Equalization Scheme for Exporters on Pre and Post Shipment Rupee Export Credit Extension till 31st March 2021 and requested to notify the Banks accordingly.

 

We are happy to share the member companies that RBI wide its Notification dt:13.05.2020 has notified all the Banks stating that the Government of India has approved the extension of Interest Equalization Scheme for pre and post-shipment Rupee export credit, with same scope and coverage, for one more year i.e. upto March 31, 2021. The extension shall take effect from April 01, 2020 and end on March 31, 2021 covering a period of one year.

 

The scheme provides 5% Interest support to all manufacturers in the MSME Sector and  at 3% to all exporters (including Merchant exporters and largescale industries) in respect of identified 416 tariff lines as per the table below. 

 

Export Items

Eligible Category

Rate of Equalisation

416 four digital tariff lines listed in the scheme

Large sector manufacturers from 1.4,2015 and Merchant Exporters from 2.1.2019 onwards

3% per annum

All tariff

MSME sector manufacturers

3% per annum from 1.4.2015 and 5% per annum w.e.f 2.11.2018

 

A copy of the RBI Notification No: RBI/2019-20/231 DOR.Dir.BC.No.69/04.02.001/2019-20 dt: 13.May.2020 is enclosed and linked for the information of member companies.

 

With regards,

 

Uday Bhaskar
Director General

 

Encl: RBI Notification
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