Interest Rate Ceiling on Rupee Export Credit - ఆర్బిఐ - Reserve Bank of India
Interest Rate Ceiling on Rupee Export Credit
RBI/2006-2007/319
Ref. No. MPD.BC. 291/07.01.279/2006-07
April 12, 2007
Chaitra 22, 1929 (Saka)
To
All Scheduled Commercial Banks
Dear Sir/Madam,
Interest Rate Ceiling on Rupee Export Credit
At present, the ceiling on interest rates on pre-shipment rupee export credit up to 180 days and post-shipment rupee export credit up to 90 days is stipulated at BPLR minus 2.5 per cent. This dispensation is valid up to April 30, 2007.
2. It has been decided to extend the validity of the above dispensation up to October 31, 2007 (Annex).
3. Kindly acknowledge receipt.
Yours faithfully,
(M. D. Patra)
Adviser-in-Charge
Category |
With effect from May 1, 2007 |
Pre-shipment Rupee Export Credit Up to 180 days |
Not exceeding BPLR minus 2.5 percentage points. |
Post-shipment Rupee Export Credit (a) On demand bills for transit period |
Not exceeding BPLR minus 2.5 percentage points Not exceeding BPLR minus 2.5 percentage points |
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 beyond the tenors as prescribed above are free.