Interest Rates on Rupee Export Credit - UCBs - ਆਰਬੀਆਈ - Reserve Bank of India
Interest Rates on Rupee Export Credit - UCBs
RBI/2013-14/207 August 30, 2013 Chief Executive Officer Dear Sir/ Madam Interest Rates on Rupee Export Credit - UCBs Please refer to our circular UBD.BPD.(AD).Cir. No. 2/13.05.000/2012-13 dated January 22, 2013 on the captioned subject, extending the interest subvention of 2% up to March 31, 2014 on pre and post shipment rupee export credit to specified export sectors. 2. The Government of India has decided to increase the rate of interest subvention on the exisiting sectors from 2% to 3% with effect from August 1, 2013 3. A directive No.UBD.BPD.Dir.(Exp) No.2/13.05.000/2013-14 dated August 26, 2013 issued in this regard is enclosed. 4. All other terms and conditions mentioned in our circulars UBD.BPD.(AD).Cir. No.2/13.05.000/2012-13 dated January 22, 2013 and UBD.BPD.(AD).Cir. No. 4/ 13.05.000/ 2012-13 dated June 4, 2013 remain unchanged. Yours faithfully (A.K. Bera) Encl: as above UBD.BPD.Dir. (Exp). No. 2/13.05.000/2013-14 August 26, 2013 Interest Rates on Rupee Export Credit - UCBs In exercise of powers conferred by Section 21 and 35 A of the Banking Regulation Act, 1949 read with Section 56, and in partial modification of its Directive UBD.BPD. Dir. (Exp). No.9/13.05.000/ 2012-13 dated January 21, 2013, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that, the rate of interest subvention on the existing sectors under the Interest Subvention Scheme on Rupee Export Credit is increased from 2 % to 3 % with effect from August 1, 2013. (S. Karuppasamy) |