sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Latest Circulars »
 Amendment in companies Act & Standards on Auditing
 Reserve Bank of India invites comments on Authorisation of New Retail Payment Systems
 Reflections on Current Policy Issues Facing the Indian Economy (By Shri Shaktikanta Das, Governor, Reserve Bank of India, delivered at the Investors’ Roundtable, 9th Vibrant Gujarat Global Summit 2019 on Friday, January 18, 2019)
 Auction for Sale (Issue / Re-issue) of Government Stock (GS) January 21, 2019
 Auction of Government of India Dated Securities January 21, 2019
 Notification No.05/2019 - Central Board Of Indirect Taxes And Customs
 RBI announces the New External Commercial Borrowings (ECB) Framework
 RBI-External Commercial Borrowings (ECB) Policy – New ECB Framework
 Notification No.02/2019 - Central Board Of Indirect Taxes And Customs
 Auction of Government of India Dated Securities January 14, 2019
 Auction for Sale (Issue/Re-issue) of Government Stock (GS) January 14, 2019

RBI-Rupee Export Credit - Interest Subvention
August, 27th 2013

RBI/2013-14/200
DBOD.Dir.BC.No.43 /04.02.001/2013-14

August 26, 2013

All Scheduled Commercial Banks and Exim Bank
(excluding RRBs)

Dear Sir/ Madam,

Rupee Export Credit - Interest Subvention

Please refer to our circulars DBOD.Dir.BC.No.70/04.02.001/2012-13 dated January 14, 2013 andDBOD.Dir.BC.No.94/04.02.001/2012-13 dated May 24, 2013 wherein interest subvention of 2% was extended w.e.f. 01.04.2013 to 31.03.2014 on pre and post shipment rupee export credit for certain employment oriented export sectors.

2. In this connection, the Government of India has decided to increase the rate of interest subvention on the existing sectors from the present 2% to 3% with effect from August 1, 2013.

3. Accordingly, banks may reduce the interest rate chargeable to the exporters as per Base Rate system in the existing sectors eligible for export credit subvention by the amount of subvention available subject to a floor rate of 7%. Banks may ensure to pass on the benefit of 3% interest subvention completely to the eligible exporters.

4.  A directive No. DBOD.Dir.BC.No.42/04.02.01/2013-14 dated August 26, 2013 issued in this regard is enclosed. 

5.  All other instructions contained in our circulars dated January 14, 2013 and May 24, 2013 on the captioned subject remain unchanged.

(Prakash Chandra Sahoo)
Chief General Manager

Encl: As above


DBOD.Dir.BC.No.42 /04.02.001/2013-14

August 26, 2013

Rupee Export Credit - Interest Subvention

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 notifies as under:

2. It has been decided to increase the rate of interest subvention on the existing sectors eligible for export credit subvention from the present 2% to 3% with effect from August 1, 2013.

3. Banks may reduce the interest rate chargeable to the exporters as per Base Rate system in the existing sectors eligible for export credit subvention by the amount of subvention available subject to a floor rate of 7%.

(B.Mahapatra)
Executive Director

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions