RBI/2009-10/110
DBOD.Dir.(Exp).BC.No.26 /04.02.001/2009-10

July 31, 2009

All Scheduled Commercial Banks
(excluding RRBs)

Dear Sir / Madam,

Rupee Export Credit Interest Rates

Please refer to our circular DBOD.Dir.(Exp).BC.No.117/04.02.01/2008-09 dated March 25, 2009 on the captioned subject regarding extension of interest rate subvention to all scheduled commercial banks in respect of Rupee Export Credit to the specified categories of exporters, with effect from April 1, 2009 upto September 30, 2009.

2.  It has been decided to extend interest subvention of 2% on export credit for a further period of six months i.e. from October 1, 2009 till March 31, 2010 to the same sectors and on the same terms and conditions.

3.  A directive No.DBOD.DIR.(Exp.)BC.No.25/04.02.001/2009-10 dated July 31,  2009 issued in this regard is enclosed. 

Yours faithfully,

(P.Vijaya Bhaskar)
Chief General Manager-in-Charge

Encl : as above

DBOD .Dir.(Exp).BC.No.25/04.02.001/2009-10

July 31, 2009

Interest Rates on Advances

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 continuation of directive DBOD.Dir.(Exp).BC.No.116/04.02.01/2008-09 dated March 25, 2009, hereby directs that interest subvention on export credit may be continued for a further period of six months i.e. from October 1, 2009 to March 31, 2010 to the same sectors and on the same terms and conditions.

(Anand Sinha)
Executive Director