RBI/2006-2007/319
Ref.
No. MPD.BC. 291/07.01.279/2006-07 April
12, 2007
Chaitra 22, 1929 (Saka) To All
Scheduled Commercial Banks Dear
Sir/Madam, Interest
Rate Ceiling on Rupee Export Credit At
present, the ceiling on interest rates on pre-shipment rupee export credit up
to 180 days and post-shipment rupee export credit up to 90 days is stipulated
at BPLR minus 2.5 per cent. This dispensation is valid up to April 30, 2007. 2.
It has been decided to extend the validity of the above dispensation up to October
31, 2007 (Annex). 3.
Kindly acknowledge receipt.
Yours faithfully, (M.
D. Patra)
Adviser-in-Charge
Annex
| Category |
With
effect from May 1, 2007
(
up to October 31, 2007) | | Pre-shipment
Rupee Export Credit Up
to 180 days | Not
exceeding BPLR minus 2.5 percentage points. | |
Post-shipment
Rupee Export Credit (a)
On demand bills for transit period
(as specified by FEDAI)
(b) Usance bills
up to 90 days | Not
exceeding BPLR minus 2.5 percentage points
Not
exceeding BPLR minus 2.5 percentage points |
BPLR
: Benchmark Prime Lending Rate Note
: 1. Since these are ceiling rates, banks would be free to charge any rate below
the ceiling rates.
2. Interest rates for the above-mentioned categories beyond
the tenors as prescribed above are free. |