Institutional Transition of Implementing Agency from the Reserve Bank of India (RBI) to the Export-Import Bank of India (EXIM Bank) for the Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan – reg.

Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Vanijya Bhawan, New Delhi Trade Notice No. 17/2026-27 Dated: 7th August 2026 Subject: Institutional Transition of Implementing Agency from the Reserve Bank of India (RBI) to the Export-Import Bank of India (EXIM Bank) for the Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan – reg. In reference to the guidelines for Interest Subvention Support for Pre- and Post- Shipment Export Credit under the Export Promotion Mission (EPM) issued vide Trade Notice No. 20/2025-26 dated 02.01.2026, Trade Notice No. 22/2025-26 dated 16.01.2026, Trade Notice No. 33/2025-26 dated 20.03.2026, Trade Notice No. 01/2026-27 dated 20.04.2026, Trade Notice No. 03/2026-27 dated 13.05.2026 and Trade Notice No. 13/2026-27 dated 14.07.2026. 2 . With respect to Para 2 of the Trade Notice 20/2025-26, the Interest Subvention scheme was initially operationalized through the Reserve Bank of India (RBI) on a pilot basis. Following institutional transition decision taken during the 4th Steering Committee meeting on the Interest Subvention Scheme, approval has been formally accorded for the transition of the Implementing Agency from the Reserve Bank of India (RBI) to the Export-Import Bank of India (EXIM Bank) with effect from 1st April 2026. 3. To ensure a smooth transition, the following operational modalities may be noted: i. Effective Date of Framework Transition: EXIM Bank shall serve as the Implementing Agency for all operationalizations, portal management, verification, and claim settlement workflows from 1st April 2026 onwards. ii. Settlement of Legacy Claims (Jan–March 2026 Quarter): Any supplementary/additional claims from participating lending banks for the quarter ending January to March 2026 shall continue to be processed by the Reserve Bank of India (RBI). 4. Consequently, the implementation framework and guidelines originallydetailed in Annexure-I (Provisions for Handbook of Procedures) and Appendix-A of Trade Notice No. 20/2025-26 modifications below shall be part of the Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) - Niryat Protsahan as issued or amended earlier through subsequent trade notices: Guideline Erstwhile Provision (RBI Modified Provision Section / Para Framework - Trade Notice (EXIM Bank Framework 20/2025-26) Effective 01.04.2026) HBP Chapter X Export credit shall continue to Export credit shall continue Para X.2 (a) be sanctioned and disbursed to be sanctioned and by lending institutions as per disbursed by lending (Implementing applicable Reserve Bank of institutions as per applicable Framework) India’s Consolidated DirectionsReserve Bank of India’s on Credit Facilities. The Consolidated Directions on interest subvention shall be Credit Facilities. The interest passed on upfront to the subvention shall be passed eligible MSME exporter by the on upfront to the eligible lending institution, and the MSME exporter by the corresponding reimbursement lending institution, and the shall be claimed by the lending corresponding institution from the Reserve reimbursement shall be Bank of India (RBI) as per claimed by the lending operational procedures notifiedinstitution from the EXIM from time to time. Bank as per operational procedures notified from time to time. Appendix-A e. Banks are required to e. Banks are required to Para 2 (e), (f), (h) completely pass on the benefit completely pass on the of interest subvention, as benefit of interest (Levels of applicable, to the eligible subvention, as applicable, to Assistance) exporters upfront and submit the eligible exporters upfront the claims to RBI for and submit the claims to reimbursement, duly certified EXIM Bank for by the external auditor. reimbursement, duly certified f. Reimbursement to banks by the external auditor. shall be made on a monthly f. Reimbursement to banks basis, limited to the actual shall be made on a monthlyamount of interest subvention basis, limited to the actual extended to eligible exporters, amount of interest as reflected in the verified subvention extended to claims submitted by banks to eligible exporters, as the Reserve Bank of India. reflected in the verified h. RBI shall submit a monthly claims submitted by banks to report online indicating bank- the EXIM Bank. wise reimbursement claims, as h. EXIM Bank shall submit a per the format(s) prescribed. monthly report online indicating bank-wise reimbursement claims, as per the format(s) prescribed. Appendix-A RBI shall scrutinize each claim EXIM Bank shall scrutinize Para 3 (d) to ensure that the IEC-specific each claim to ensure that the claim submitted by the bank IEC-specific claim submitted (Credit Sanction does not exceed the by the bank does not exceed and Claims) prescribed ceiling of the the prescribed ceiling of the annual subvention amount per annual subvention amount IEC. Upon verification, RBI per IEC. Upon verification, shall approve and submit the EXIM Bank shall approve consolidated fund claims to and submit the consolidated DGFT through the designated fund claims to DGFT through portal. the designated portal. 5. All other operational provisions prescribed under Trade Notice No. 20/2025- 26 and subsequent Trade Notices shall remain unchanged. This Trade Notice is issued with the approval of the Competent Authority. (A.G. Subramanian) Deputy Director General of Foreign Trade [Issued from File No. 01/02/89/AM-26/EPM-Part(3)]