RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S1

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

79226651

Rupee Export Credit Interest Rates

RBI/2007-2008/301
DBOD.Dir.(Exp).BC.No. 77/04.02.01/2007- 08

April 28, 2008

All Scheduled Commercial Banks
(excluding RRBs)

Dear Sir,

Rupee Export Credit Interest Rates

Please refer to our circular DBOD.Dir.(Exp.)No.41/04.02.01/2007-08 dated October 29, 2007 on the captioned subject.

2. The validity of the interest rates on rupee export credit indicated in the above circular would now remain in force up to October 31, 2008. In this connection, you may please refer to RBI circular No.MPD.BC.298/07.01.279/2007-08 dated April 25, 2008. The rates of interest applicable have been incorporated in the Annex to the Directive DBOD.Dir.(Exp.)BC.No.76/04.02.01/2007-08 dated April 28, 2008 enclosed to this circular.

3. Moreover, interest subvention on export credit has been extended by one more year from April 1, 2008 till March 31, 2009 on the terms and conditions as they existed on March 31, 2008 vide circular DBOD.Dir.(Exp)BC.No.73/ 04.02.01/2007-08 dated April 25, 2008. Accordingly, banks would continue to charge interest rates not exceeding BPLR minus 4.5 and 6.5 percentage points on pre-shipment credit up to 180 days and post-shipment credit up to 90 days on the outstanding amount for a further period starting from April 1, 2008 to March 31, 2009 to the categories of exporters as detailed in circulars DBOD.Dir.(Exp.)BC.No.22/04.02.01/2007-08,DBOD.Dir.(Exp.)BC.No.34B/4.02.01/2007-08 and DBOD.Dir.(Exp).BC.No.54/04.02.01/2007-08, issued by the Reserve Bank on July 13, 2007, October 6, 2007 and November 30,2007 respectively.

Yours faithfully,

(P.Vijaya Bhaskar)
Chief General Manager


DBOD.Dir.(Exp).BC.No.76/04.02.01/2007-08

April 28, 2008

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, hereby directs that, with effect from May 01, 2008 the interest rates on rupee export credit would be as indicated in the Annex enclosed to this Directive.

(Anand Sinha)
Executive Director


ANNEX

Interest Rates on Rupee Export Credit of Scheduled Commercial Banks

Interest Rates effective from May 1, 2008 to October 31, 2008 will be not exceeding BPLR minus 2.5 percentage points per annum for the following categories of Export Credit.

 

Categories of Export Credit

   

1.

Pre-shipment Credit

 

(a) Up to 180 days

 

(b)Against incentives receivable from Government covered by ECGC Guarantee up to 90 days

2.

Post-shipment Credit

 

(a) On demand bills for transit period (as specified by FEDAI)

 

(b) Usance bills (for total period comprising usance period of export bills, transit period as specified by FEDAI, and grace period, wherever applicable)

 

i. Up to 90 days

ii. Up to 365 days for exporters under the Gold Card Scheme.

 

(c) Against incentives receivable from Govt. (covered by ECGC Guarantee) up to 90 days

 

(d) Against undrawn balances (up to 90 days)

 

(e) Against retention money (for supplies portion only) payable within one year from the date of shipment (up to 90 days)

BPLR : Benchmark Prime Lending Rate
Note:
1. Since these are ceiling rates, banks would be free to charge any rate below the ceiling rates.
2. Interest rates for the above-mentioned categories of export credit beyond the tenors as prescribed above are deregulated and banks are free to decide the rate of interest, keeping in view the BPLR and spread guidelines.

RbiTtsCommonUtility

प्ले हो रहा है
കേൾക്കുക

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

റിസർവ് ബാങ്ക് ഓഫ് ഇന്ത്യ മൊബൈൽ ആപ്ലിക്കേഷൻ ഇൻസ്റ്റാൾ ചെയ്ത് ഏറ്റവും പുതിയ വാർത്തകളിലേക്ക് വേഗത്തിലുള്ള ആക്സസ് നേടുക!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

ഈ പേജ് സഹായകരമായിരുന്നോ?