APPENDIX TABLE I.3 : INTEREST RATES ON EXPORT CREDIT

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Published on 30 June 1998

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APPENDIX TABLE I.3 : INTEREST RATES ON EXPORT CREDIT

											(Per cent per annum)
				Rates Effective
	Export Credit			Aug. 6,	Apr. 29,	Jan. 1,	Dec. 18,	Dec. 15,	Nov. 27,	Oct. 22,	Sept. 13,	June 26,	April 16,
				1998	1998	1998	1997	1997	1997	1997	1997	1997	1997

	1			2	3	4	5	6	7	8	9	10	11

1.	Pre-shipment Credit
	i)	Up to 180 days		9.00	11.00	12.00	12.00	12.00	12.00	12.00	13.00	13.00	13.00
	ii)	Beyond 180 days and
		up to 270 days		12.00	14.00	14.00	14.00	14.00	14.00	14.00	15.00	15.00	15.00
	iii)	Against incentives
		receivable from
		Government covered
		by ECGC Guarantee
		up to 90 days		9.00	11.00	12.00	12.00	12.00	12.00	12.00	13.00	13.00	13.00

2.	Post-shipment Credit
	i)	Demand Bills for
		transit period (as			Not	Not	Not	Not	Not	Not	Not	Not	Not
		specified by FEDAI)			Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding
				9.00	11.00	11.00	11.00	11.00	11.00	11.00	11.00	12.00	13.00
	ii)	Usance Bills
		(for total period
		comprising usance
		period of export bills,
		transit period as
		specified by FEDAI
		and grace period			Not	Not	Not	Not	Not	Not	Not	Not	Not
		wherever applicable)			Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding
		a)	Up to 90 days	9.00	11.00	11.00	11.00	11.00	11.00	11.00	11.00	12.00	13.00
		b)	Beyond 90 days and
			up to six months from
			the date of shipment	11.00	13.00	13.00	15.00	15.00	15.00	13.00	13.00	14.00	15.00
							(FDA)	(FDA)			(FDA)
		c)	Beyond six months	- -	- -	20.00*	20.00	Free	Free	Free	Free	Free	Free
			from the date of			(Min.)	(Min.)
			shipment				(FDA)
	iii)	Against incentives
		receivable from
		Government			Not	Not	Not	Not	Not	Not
		covered by ECGC			Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding
		Guarantee (up to 90 days)		9.00	11.00	11.00	11.00	11.00	11.00	11.00	13.00	13.00	13.00
	v)	Against retention
		money (for supplies
		portion only) payable
		within one year from			Not	Not	Not	Not	Not	Not
		the date of shipment			Exceeding	Exceeding	Exceeding	Exceeding	Exceeding	Exceeding
		(up to 90 days)		9.00	11.00	11.00	11.00	11.00	11.00	11.00	13.00	13.00	13.00

3.	Deferred Credit
	Deferred credit for the			Free	Free	Free	Free	Free	Free	Free	Free	Free	Free
	period beyond 180 days			(FDA)	(FDA)	(FDA)	(FDA)	(FDA)	(FDA)	(FDA)	(FDA)	(FDA)	(FDA)

4.	Export Credit not			- -	- -	20.00*	20.00	Free	Free	Free	Free	Free	Free
	otherwise specified					(Min.)	(Min.)
							(FDA)
	a)	Pre-shipment credit		Free	Free	- -	- -	- -	- -	- -	- -	- -	- -
	b)	Post-shipment credit		20.00	20.00
				(Min.)	(Min.)	- -	- -	- -	- -	- -	- -	- -	- -

FDA	From date of advance.
Min.	Minimum.
- -	Not Applicable.
*	Chronic Cases, i.e. overdues as on July 1, 1997 exempted / the prescription of higher rate of interest from the date of advance withdrawn retrospectively from December 18, 1997.
Note :	"Free" means banks are free to charge interest at rates decided by them.