2. The Government of India has decided to widen the scheme to include certain items covering the Engineering Sectors. The Scheme will be made available to the Engineering Sector on pre and post shipment export credit on the same terms and conditions as available to other sectors. A list of 134 tariff lines of Engineering products approved for inclusion in Interest Subvention for the period January 1, 2013 to March 31, 2013 is enclosed to this circular (Annex I).
3. Further it has also been decided to extend the interest subvention of 2% on rupee export credit on specified export sectors from April 1, 2013 to March 31, 2014. Accordingly, the interest subvention on pre-shipment and post-shipment rupee export credit is extended from April 1, 2013 to March 31, 2014 on the same terms and conditions as mentioned in our circular dated June 26, 2012 for the following sectors.
(i) Handicraft (ii) Carpets (iii) Handlooms (iv) Small and Medium Enterprises (SMEs) (as defined in Annex II) (v) Readymade Garments (vi) Processed Agriculture Products (vii) Sport Goods (viii) Toys (ix) 134 Tariff lines on Engineering Products (Annex I)
5. Claims for re-imbursement of subvention amount may be submitted to the Chief General Manager-in-Charge, Urban Banks Department, Reserve Bank of India, Central Office, Garment House, Worli, Mumbai 400 018 on a quarterly basis starting from quarter ended June 30, 2013 in the format as per Annex III. The amount of subvention will be calculated on the outstanding amount of rupee export credit from the date of disbursement up to the date of repayment or up to the date on which the outstanding export credit becomes overdue, whichever is earlier. The claims should be accompanied by an External Auditor's Certificate certifying that the claim for subvention of Rs. ………….. for the period ……………. (specify the quarter) is true and correct. Settlement of the claim will be done only on receipt of this certificate.
(A. Udgata) Chief General Manager -in-Charge
Encl: as above
Tariff Lines of Engineering Products approved for Inclusion for Interest Subvention
SHEET PILING OF IRON OR STEEL, WHETHER OR NOT DRILLED, PUNCHED OR MADE FROM ASSEMBLED ELEMENTS; WELDED ANGLES, SHAPES
RESERVRS & CONTAINRS FR ANY MATRL(OTHR THNCMPRSD / LIQD GAS)OF IRN / STL-CAPCTY>300 LTR NOT FITD WITH MECHNCL / THERMAL EQUIPMEN
TANKS, DRUMS ETC & SMLR CONTNRS FOR MATERLS (OTHR THN CMPRSD / LQFD GAS)-CAPCTY<=300LTRNOT FITTED WTH MECHNCL OR THERML EQ
CONTAINERS FOR COMPRESSED OR LIQUEFIED GAS, OF IRON OR STEEL
CLOTH (INCLUDING ENDLESS BANDS), GRILL, NETTING AND FENCING, OF IRON OR STEEL WIRE; EXPANDED METAL OF
CHAIN AND PARTS THEREOF, OF IRON OR STEEL
ANCHORS, GRAPNELS AND PARTS THEREOF, OF IRON OR STEEL
NAILS, TACKS, DRAWING PINS, CORRUGATED NAILS,
SCRWES, BOLTS, NUTS, COACHSCREWS, SCREW HOOKS RIVETS, COTTERS, COTTER-PINS, WASHERS (INCL SPRING WASHERS) & SMLR ARTICLES OF IRN / STL
SEWNG, KNITING NEEDLS,BODKINS,CROCHET BOOKSETC. & SMLR ARTCLS FOR USE IN HAND,OF IRN / STL;SAFETY PINS & OTHR PINS NES / INCLU
SPRINGS AND LEAVES FOR SPRINGS, OF IRON OR STEEL
STOVS, RANGS, GRATS, COOKRS, BARBECUS, BRAZIRS GAS-RINGS, PLATE WARMRS & SMLR NON- ELECTRICDOMESTC APPLIANCES & ITS PRTS OF I
RADTRS FR CNTRL HTNG & ITS PRTS OF IRN / STLAIR HTRS & HT AIR DSTRBTRS NT ELCTRCLY HTD,INCORPRTNG MOTOR DRIVN FAN & ITS PR
TABLE KITCHN OR OTHR DOMESTIC ARTCLS & ITSPARTS OF IRN / STL; IRN OR STL WOOL; SCOURERS OR POLISHNG PADS,GLOVS & LIKE OF
SANITARY WARE AND PARTS THEREOF, OF IRON OR STEEL
COPPER PLATES, SHEETS AND STRIP, OF A THICKNESS EXCEEDING 0.12.5 MM
COPPER FOIL (W/N PRINTD OR BACKD WTH PAPR, PAPRBORD, PLSTCS OR SMLR BACKING MATERLS) OF A THICKNESS (EXCL BACKING)<=0.15 MM
COPPER TUBES AND PIPES
COPR TUBE / PIPE FITNG (CUPLNGS, ELBOWS, SLEVS)
STRANDED WIRE, CABLES, PLATED BANDS AND THE LIKE, OF COPPER, NOT ELECTRICALLY INSULATED
NAILS, TACKS, DRAWING PINS, STAPLES (OTHER THAN THOSE OF HEADING 8305) AND SIMILAR ARTICLES, OF COPPER OR OF IRON OR STEEL
TABLE, KITCHEN OR OTHER HOUSEHOLD ARTICLES AND PARTS THEREOF, OF COPPER; POT SCOURERS AND SCOURING OR POLISHING PADS, G
OTHER ARTICLES OF COPPER
ALMNM FOIL(W/N PRNTD / BCKD WTH PAPR PAPRBOARD-PLSTCS ETC.) OF THCKNS (EXCL ANY BCKNG) NT EXCDNG 0.2 MM
ALMNM RSVRS, TNKS, VATS ETC. FR ANY MATRL (EXCL CMPRSSD GAS) OF CPCTY>300L,W/N LND HT-INSLTD,BT NT FTD WTH MCHNL / THRML EQPMNT
ALMNM CSKS, DRMS, CANS ETC(INCL CLPSBL TBLR CONTNRS) FR ANY MTRL(EXCL GAS), OF<=300L,W/ NW/N LIND BUT NT FTD WTH MHCHNCL / THRML EQU
ALMNM CONTAINERS FOR COMPRESSED / LQFD GAS
STRANDED WIRE, CABLES, PLAITED BANDS AND THE LIKE, OF ALUMINIUM, NOT ELECTRICALLY INSULATED
TABL,KTCHN / OTHR HOUSLD ARTCLS & PRTS OF ALMNM, POT SCOURS & SCOURNG / POLSHNG PADS GLOVS & TH LIKE, SNTRY WRE & PRTS OF ALMNM
DIODES, TRANSISTORS AND SIMILAR SEMICONDUCTOR DEVICES; PHOTOSENSITIVE SEMICONDUCTOR DEVICES, INCLUDING PHOTOVOLT
ELCTRNC INTEGRTD CIRCUITS & MICRO-ASSMBLS
ELCTRCL MCHNS & APPRTS, HVNG INDIVIDUAL FNCTNS N.E.S. IN THIS CHAPTER
Definition of SME
Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below:
(i) A micro enterprise is an enterprise where investment in plant and machinery (original cost excluding land and building and the items specified by the Ministry of Small Scale Industries vide its notification No. S.O.1722 (E) dated October 5, 2006) does not exceed Rs. 25 lakh;
(ii) A small enterprise is an enterprise where the investment in plant and machinery (original cost excluding land and building and the items specified by the Ministry of Small Scale Industries vide its notification No. S.O.1722 (E) dated October 5, 2006) is more than Rs. 25 lakh but does not exceed Rs. 5 crore; and
(iii) A medium enterprise is an enterprise where the investment in plant and machinery (original cost excluding land and building and the items specified by the Ministry of Small Scale Industries vide its notification No. S.O.1722 (E) dated October 5, 2006) is more than Rs. 5 crore but does not exceed Rs. 10 crore.
Rupee Export Credit for the period from ________ to _________
(to be submitted quarterly starting from quarter ended June 30, 2013)
(Pre-shipment Export Credit and Post -shipment Export Credit)
Category of Exporters
Total Rupee Export Credit granted at 2% less than the rates charged for other categories of Exporters
Amount of Subvention Claimed
(iv) Small & Medium Enterprises (SME) (as defined in Annex II of circular No. dated January, 2013)
(v) Readymade Garments
(vi) Processed Agriculture Products
(vii) Sport Goods
(ix) 134 Tariff lines on Engineering Products (as defined in Annex I of circular No. dated January ,2013)
NB: Amount of subvention should be rounded off to the nearest rupees.
We certify having charged interest on the above loans at interest rates that are 2% below those charged for other categories of exporters by way of export credit to the eligible exporters as stated in the RBI circular No. UBD.BPD.PCB.Cir. No.___/13.05.000/2012-13 dated January____, 2013 during the period ________to ___________.
Dated : _____________
Name and Designation of Authorised Signatory
UBD.BPD.Dir. (Exp).No. 9 /13.05.000/2012-13
January 21, 2013
Interest Rates on Rupee Export Credit
In exercise of the powers conferred by Section 21 and 35A of the Banking Regulation Act,1949 read with Section 56, and in partial modification of its Directive UBD.BPD.Dir.(Exp).No.4/13.05.000/2011-12 dated June 21, 2012, the Reserve Bank of India being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that, the Interest Subvention Scheme on Rupee Export Credit has been widened to include certain items (mentioned in Annex I) covering the Engineering Sectors on pre and post shipment export credit on the same terms and conditions as available to other sectors for the period January 1, 2013 to March 31, 2013.
Further, it is also directed that with effect from April 01, 2013 up to March 31, 2014 scheduled primary (urban) co-operative banks holding AD category I licence will charge, for specified export sectors, interest at 2 percentage point below the interest rates charged from exporters in other categories of export sector, on the outstanding amount of rupee export credit from the date of disbursement up to the date of repayment or up to the date on which the outstanding rupee export credit becomes overdue, whichever is earlier.
1. Handicraft 2. Carpets 3. Handlooms 4. Small and Medium Enterprises (SMEs)(as defined in Annex II) 5. Readymade Garments 6. Processed Agriculture Products 7. Sport Goods 8. Toys 9. 134 Tariff lines on Engineering Products (Annex I)