RBI/2014-15/444
REF.No.MPD.BC.376/07.01.279/2014-15

Magha 14, 1936 (Saka)
February 3, 2015

To

All Scheduled Banks [excluding Regional Rural Banks(RRBs)]

Dear Sir/Madam,

Export Credit Refinance Facilities

As announced in the Sixth Bi-Monthly Monetary Policy Statement, 2014-15 dated February 3, 2015, it has been decided to merge the Export Credit Refinance (ECR) facility with the system level liquidity provision with effect from the fortnight beginning on February 7, 2015. Accordingly, no new refinancing under the ECR will be available after February 6, 2015 and the refinancing availed up to February 6, 2015 may continue till its maturity.

Yours faithfully,

(B.K. Bhoi)
Adviser-in- Charge