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Appendix Table I.3 : Interest Rates on Export Credit

               

(Per cent per annum)


     

Rates Effective


   

Export Credit

May 5,

May 26,

October 29,

April 1,

August 6,

April 30,

January 1,

     

2001#

2000

1999

1999

1998

1998

1998


 

1

 

2

3

4

5

6

7

8


1.

Pre-shipment Credit

             
 

i)

Up to 180 days

< PLR-1.5 PP

10.00

10.00

10.00

9.00

11.00

12.00

 

ii)

Beyond 180 days and up to 270 days

< PLR+1.5 PP

13.00

13.00

13.00

12.00

14.00

14.00

 

iii)

Against incentives receivable from Government

< PLR-1.5 PP

           
   

covered by ECGC Guarantee up to 90 days

 

10.00

10.00

10.00

9.00

11.00

12.00

                   

2.

Post-shipment Credit

             
 

i)

Demand Bills for transit period (as specified by FEDAI)

             
     

< PLR-1.5 PP

< 10.00

< 10.00

< 10.00

< 9.00

< 11.00

< 11.00

 

ii)

Usance Bills

             
   

(for total period comprising usance period

             
   

of export bills, transit period as specified by

             
   

FEDAI and grace period wherever applicable)

             
   

a) Up to 90 days

< PLR-1.5 PP

< 10.00

< 10.00

< 10.00

< 9.00

< 11.00

< 11.00

   

b) Beyond 90 days and up to six months from

< PLR+1.5 PP

12.00

12.00

12.00

11.00

13.00

13.00

   

the date of shipment

             
   

c) Beyond six months from the date of shipment

 

-

-

-

-

-

20.00*

                 

(Min.)

 

iii)

Against incentives receivable from Government

             
   

covered by ECGC Guarantee (up to 90 days)

< PLR-1.5 PP

< 10.00

< 10.00

< 10.00

< 9.00

< 11.00

< 11.00

                   
 

iv)

Against undrawn balance (up to 90 days)

< PLR-1.5 PP

< 10.00

< 10.00

< 10.00

< 9.00

< 11.00

< 11.00

 

v)

Against retention money (for supplies portion only)

             
   

payable within one year from the date of shipment

             
   

(up to 90 days)

< PLR-1.5 PP

< 10.00

< 10.00

< 10.00

< 9.00

< 11.00

< 11.00

                   

3.

Deferred Credit

             
 

Deferred credit for the period beyond 180 days

Free

Free

Free

Free

Free

Free

Free

               

(FDA)

(FDA)

4.

Export Credit, not otherwise specified

             
 

a)

Pre-shipment credit

Free

Free

Free

Free

Free

Free

 
 

b)

Post-shipment credit

Free @

25.00

Free

20.00

20.00

20.00

20.00*

       

(Min.)

 

Min.)

(Min.)

(Min.)

(Min.)


FDA From the date of advance.

< Not Exceeding

Min. Minimum.

- : Not Applicable.

* Chronic cases, i.e., overdues as on July 1, 1997 are exempted.

 

PP Percentage points

 

# These are ceiling rates, banks would be free to charge any rate below the ceiling rate.

   

@ From 06.01.2001 onwards.

     

Note : 'Free' means banks are free to charge interest at rates decided by them keeping in view the PLR and spread guidelines.

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