RBI/2009-10/149
DBOD.No. Dir (Exp). BC. 39/04.02.001/2009-10

September 7 , 2009

All Scheduled Commercial Banks
(Excluding RRBs)

Dear Sir/Madam,

Gold Card Scheme for Exporters

Please refer to our Circulars IECD.No.12/04.02.02/Gold Card/2003-04 dated May 18, 2004 and DBOD.Dir.(Exp)No.73/04.02.02/ Gold Card/2004-05 dated March 04, 2005 on Gold Card Scheme for exporters.

In view of the difficulties faced by exporters on account of weakening of external demand and in realizing the dues within the stipulated time, it has been decided to partially modify paragraph 3.1.3 of our circular dated May 18, 2004 and dispense with the requirement of overdue export bills not exceeding 10% of the previous year’s export turnover, for one year i.e. from April 1, 2009 to March 31, 2010.

Yours faithfully

(P.Vijaya Bhaskar)
Chief General Manager-in Charge