RBI/2007-2008/297
Ref.No.MPD.BC.298/07.01.279/2007-08 April
25, 2008
Vaishakha 5, 1930(S) To, All Scheduled Commercial Banks Dear
Sir/Madam, Interest Rate Ceiling on Rupee
Export Credit Please refer to our circular
No.MPD.BC.295/07.01.279/2007-08 dated October 25, 2007 in terms of which 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 has been stipulated at BPLR minus
2.5 per cent, valid up to April 30, 2008. 2.
It has been decided to extend the validity of the above dispensation up to October
31, 2008 (Annex). 3. Kindly acknowledge
receipt. Yours faithfully, (M. D. Patra)
Adviser-in-Charge
Annex
| Category |
With effect from May 1, 2008
(up
to October 31, 2008) | |
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. |
|