Interest Rates on Rupee Export Credit - UCBs - આરબીઆઈ - Reserve Bank of India
Interest Rates on Rupee Export Credit - UCBs
RBI/2010-11/367 January 11, 2011 Chief Executive Officer Dear Sir / Madam, Interest Rates on Rupee Export Credit - UCBs Please refer to circular UBD.CO.BPD.Cir.No.1/13.05.000/2009-10 dated September 16, 2009 extending the interest subvention on rupee export credit to specified export sectors till March 31, 2010. 2. It has been decided to extend interest subvention of 2% on pre-shipment rupee export credit upto 270 days and post shipment rupee export credit upto 180 days on the specified export sectors / sub-sectors with effect from April 1, 2010 to March 31, 2011. Specified Sectors / Sub-sectors: (i) Handicrafts 3. A Directive No.UBD.BPD.Dir.(Exp).No.2/13.05.000/2010-11 dated December 28, 2010, issued in this regard, is enclosed. 4. Claims for re-imbursement of subvention amount may be submitted to the Chief General Manager-in-Charge, Urban Banks Department, Reserve Bank of India, Central Office, Garment House, Worli, Mumbai - 400 018 on a quarterly basis starting from quarter ended June 30, 2010 in the format as per Annex III. The amount of subvention will be calculated on the amount of export credit from the date of disbursement up to the date of repayment or up to the date beyond which the outstanding export credit becomes overdue i.e. for pre-shipment credit up to 270 days and post-shipment credit up to 180 days, whichever is earlier. The claims should be accompanied by an Auditor's Certificate certifying that the claim for subvention of Rs ……………. for the period.......... (specify the quarter) is true and correct. Settlement of the claim will be done only on receipt of this certificate. Yours faithfully (Uma Shankar) Definition of SME Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below :
Rupee Export Credit for the period from ______ to ________ (Pre-shipment Export Credit up to 270 days and
We certify having charged interest on the above loans at interest rates that are 2% below those charged for other categories of exporters by way of export credit to the eligible exporters as stated in the RBI circular No.UBD.BPD.PCB.Cir.No.___/13.05.000/2010-11 dated December ____, 2010 during the period _____to ________. Dated : _________________ Name and Designation of Authorised Signatory |