RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S1

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

79089285

Rupee Export Credit Interest Rates

RBI/2009-10/453
DBOD.Dir.(Exp).BC.No. 102 /04.02.001/2009-10

May 6, 2010

All Scheduled Commercial Banks
(excluding RRBs)

Dear Sir/Madam,

Rupee Export Credit Interest Rates

Please refer to our circular DBOD.Dir.(Exp).BC.No. 54/ 04.02.01/2009-10 dated October 29, 2009 on the captioned subject.

2.  The validity of the prescribed interest rate ceiling on pre-shipment rupee export credit upto 270 days and post-shipment rupee export credit upto 180 days stipulated at BPLR minus 2.5 percentage points as stated in our above mentioned circular DBOD.Dir.(Exp).BC.No.54/04.02.001/2009-10 dated October 29, 2009 would now remain in force upto June 30, 2010.  In this connection, you may please refer to RBI circular No.MPD.BC.330/07.01.279/2009-10 dated April 23, 2010. The rates of interest applicable have been incorporated in the Annexure to the Directive DBOD.Dir(Exp).BC.No. 101/04.02.01/2009-10 dated May 6, 2010 enclosed to this circular.

3.  The Base Rate System will be applicable with effect from July 1, 2010.  Accordingly, interest rates applicable for all tenors of rupee export credit advances will be at or above Base Rate.

Yours faithfully,

(A.K.Khound)
Chief General Manager
Encl: as above


DBOD.Dir.(Exp).BC.No. 101 /04.02.001/2009-10

May 6, 2010

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, hereby directs that, with effect from May 01, 2010 to June 30, 2010, the interest rates on rupee export credit would be as indicated in the Annex enclosed to this Directive.

2. Interest rates applicable for all tenors of rupee export credit advances with effect from July 1, 2010 will be at or above Base Rate.

(Anand Sinha)
Executive Director


ANNEX

Interest Rates on Rupee Export Credit of
Scheduled Commercial Banks

Interest Rates effective from May 01, 2010 to June 30, 2010 will be not exceeding BPLR minus 2.5 percentage points per annum for the following categories of Export Credit.

 

Categories of Export Credit

 

 

1.

Pre-shipment Credit

 

(a) Up to 270 days

 

(b)Against incentives receivable from Government covered by  ECGC Guarantee up to 90 days

2.

Post-shipment Credit

 

(a)  On demand bills for transit period (as specified by FEDAI)

 

(b) Usance bills (for total period comprising usance period of export bills, transit period as specified by FEDAI, and grace period, wherever applicable)

 

i) Up to 180 days
ii) Up to 365 days for exporters under the Gold Card Scheme.

 

(c) Against incentives receivable from Govt. (covered by ECGC Guarantee) up to 90 days

 

(d)  Against undrawn balances (up to 90 days)

 

(e)  Against retention money (for supplies portion only) payable within one year from the date of shipment (up to 90 days)

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 of export credit beyond the tenors as prescribed above are deregulated and banks are free to decide the rate of interest, keeping in view the BPLR and spread guidelines.

RbiTtsCommonUtility

PLAYING
LISTEN

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

بھارت موبائل ایپلی کیشن کے ریزرو بینک کو انسٹال کریں اور تازہ ترین خبروں تک فوری رسائی حاصل کریں!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

یہ صفحہ مددگار تھا؟