RBI/2008-09/419
DBOD.Dir.(Exp).BC.No. 117 /04.02.01/2008-09

March 25, 2009

All Scheduled Commercial Banks
(excluding RRBs)

Dear Sir,

Rupee Export Credit Interest Rates

Please refer to our circular DBOD. Dir.(Exp.)No.101/04.02.01/2008-09 dated December 16, 2008 on the captioned subject regarding provision of interest rate subvention to all scheduled commercial banks in respect of Rupee Export Credit to the specified categories of exporters, with effect from December 01, 2008 up to March 31, 2009.

2. It has been decided to extend interest subvention of 2% on export credit for a further period of six months i.e. from April 1, 2009 till September 30, 2009 to the same sectors and on the same terms and conditions.

3. A directive No.DBOD.DIR.(Exp.)BC.No.116/04.02.01/2008-09 dated March 25, 2009 issued in this regard is enclosed.

Yours faithfully,

(P.Vijaya Bhaskar)
Chief General Manager

Encl : as above

DBOD .Dir.(Exp).BC.No.116/04.02.01/2008-09

March 25, 2009

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, in continuation of directive DBOD.Dir.(Exp).BC.No.100/04.02.01/2008-09 dated December 16, 2008, hereby directs that interest subvention on export credit may be continued for a further period of six months i.e. from April 1, 2009 till September 30, 2009 to the same sectors and on the same terms and conditions.

(Anand Sinha)
Executive Director