October
6, 2007
To
All
Scheduled Commercial Banks
(excluding
RRBs)
Dear
Sirs,
Rupee
Export Credit Interest Rates – Extension of period & widening of coverage
of sectors
Please
refer to our circular DBOD.Dir.(Exp.)No.22/04.02.01/2007-08
dated July 13, 2007 on the captioned subject regarding provision of interest
subvention of 2 percentage points p.a. to all scheduled commercial banks in respect
of rupee export credit to the specified categories of exporters, with effect from
April 01, 2007 up to December 31, 2007. In partial modification thereof it has
been decided by the Government as under:
1.
To extend the scheme by three months upto March 31, 2008.
2.
To extend the coverage of the interest subvention scheme. The new list would be
as follows:
Sector
I.
(i)
Textiles (including Handlooms, jute and carpets)
(ii)
Readymade Garments
(iii) Leather
Products
(iv) Handicrafts
(v)
Engineering Products
(vi)
Processed Agricultural Products (including processed cashew, coffee and tea)
(vii)
Marine Products
(viii) Sports
Goods
(ix) Toys
(x)
Solvent Extracted De-oiled cake
(xi)
Plastics & Linoleum
II.
All exporters from the SME Sector as defined in the above mentioned circular dated
July 13, 2007.
(The
additions have been indicated above in bold letters)
A
directive No. DBOD.Dir.(Exp).BC.No. 34A /04.02.01/2007-08 dated
October 6, 2007 issued in this regard is enclosed.
Other
instructions contained in our circular dated July 13, 2007 remain unchanged.
Yours
faithfully,
(P.Vijaya
Bhaskar)
Chief General
Manager
DBOD.Dir.(Exp).BC.No.
34A /04.02.01/2007-08
October
6, 2007
Interest
Rates on Rupee Export Credit
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, in partial modification of directive
DBOD. Dir. (Exp).BC. No. 21/04.02.01/2007-08 dated July 13, 2007. hereby notifies
as under.
1.
The directions contained therein, would continue to be in effect up to March 31,
2008.
2.
It has been decided to extend the coverage of the interest subvention scheme .
The new list would be as follows.
Sector
I.
(i)
Textiles (including Handlooms, jute and carpets)
(ii)
Readymade Garments
(iii) Leather
Products
(iv) Handicrafts
(v)
Engineering Products
(vi)
Processed Agricultural Products (including processed cashew, coffee and tea)
(vii)
Marine Products
(viii) Sports
Goods
(ix) Toys
(x) Solvent Extracted De-oiled Cake
(xi) Plastics
& Linoleum
II.
All exporters from the SME Sector.
(The
additions have been indicated above in bold letters)
(Anand
Sinha)
Executive Director