RBI includes Merchant exporters under Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit from January 02, 2019

Jan 14, 2019 | by Avantis RegTech Legal Research Team


The Reserve Bank of India (RBI) on January 11, 2019 has decided to include merchant exporters in Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit with effect from January 02, 2019.

The RBI has given reference of the operational instructions for the captioned scheme contained in RBI circular on Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit issued vide DBR.Dir.BC.No.62/04.02.001/2015-16 dated December 4, 2015; DCBR.CO.SCB.Cir.No.1/13.05.000/2015-16 dated February 11, 2016 and DBR.Dir.BC.No.09/04.02.001/2018-19 dated November 29, 2018.

In this regard, it has been decided by RBI to include merchant exporters also, with effect from January 02, 2019, under the ongoing Interest Equalisation Scheme for Pre and Post Shipment Rupee Export Credit and allow them interest equalisation at the rate of 3% on credit for export of products covered under 416 tariff lines identified under the Scheme.

[DBR.Dir.BC.No.22/04.02.001/2018-19(RBI/2018-19/107)]

URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NT107E1F4FD8382834A95BCFEB089C68F0A78.PDF


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