**Summary:**
This circular, RBI201819107 DBR.Dir.BC.No.2204.02.001201819 dated January 11, 2019, issued by the Reserve Bank of India (RBI), pertains to the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit. It is addressed to all Scheduled Commercial Banks (excluding RRBs), Small Finance Banks, and Primary Urban Cooperative Banks.
The circular announces a decision by the Government of India, effective January 2, 2019, to include merchant exporters under the ongoing Interest Equalisation Scheme. Merchant exporters are now eligible for interest equalisation at a rate of 3% on credit for export of products covered under the 416 tariff lines identified under the scheme.
This circular references previous operational instructions for the scheme contained in circulars DBR.Dir.BC.No.6204.02.001201516 dated December 4, 2015; DCBR.CO.SCB.Cir.No.113.05.000201516 dated February 11, 2016; and DBR.Dir.BC.No.0904.02.001201819 dated November 29, 2018.
For further information, contact Dr. S. K. Kar, Chief General Manager, Department of Banking Regulation, Central Office, 13th floor, NCOB, Shahid Bhagat Singh Marg, Mumbai – 400001. Telephone: 912222601000; Fax: 912222701241; Email: cgmicdbrrbi.org.in.
Key Entities Referenced
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit: A scheme related to export credit, the subject of the policy document.
Scheduled Commercial Banks: A category of banks to whom the instructions are addressed, excluding RRBs, Small Finance Banks and Primary Urban Cooperative Banks.
RRBs: Regional Rural Banks, excluded from the applicability of the instructions.
Small Finance Banks: A type of bank, excluded from the applicability of the instructions.
Primary Urban Cooperative Banks: A type of bank, excluded from the applicability of the instructions.
Government of India: The entity that decided to include merchant exporters under the Interest Equalisation Scheme.
merchant exporters: An entity now included under the Interest Equalisation Scheme.
Mumbai, Maharashtra: Location of the Central Office, Department of Banking Regulation, Reserve Bank of India.
RBI/2018-19/107
DBR.Dir.BC.No.22/04.02.001/2018-19 January 11, 2019
All Scheduled Commercial Banks (excluding RRBs)
Small Finance Banks and
Primary (Urban) Cooperative Banks
Dear Sir / Madam,
Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
Please refer to the operational instructions for the captioned scheme contained in
RBI circular on Interest Equalisation Scheme on Pre and Post Shipment Rupee
Export Credit issued vide DBR.Dir.BC.No.62/04.02.001/2015-16 dated December 4,
2015; DCBR.CO.SCB.Cir.No.1/13.05.000/2015-16 dated February 11, 2016 and
DBR.Dir.BC.No.09/04.02.001/2018-19 dated November 29, 2018.
2. In this regard, it has been decided by the Government of India to include merchant
exporters also, w.e.f. January 2, 2019, under the ongoing Interest Equalisation
Scheme for Pre and Post Shipment Rupee Export Credit and allow them interest
equalisation at the rate of 3% on credit for export of products covered under 416 tariff
lines identified under the Scheme.
Yours faithfully,
(Dr. S. K. Kar)
Chief General Manager
बै�कग िविनयमन िवभाग, क��ीय कायार्लय, 13 माला, शहीद भगत�सह मागर्, मुम्बई 400001
_____________________________________________________________________________________________________
Department of Banking Regulation, Central Office, 13th floor ,NCOB,Shahid Bhagat Singh Marg, Mumbai - 400001
/Tel No: 91-22-22601000 / Fax No: 91-22-22701241 Email ID:cgmicdbr@rbi.org.in
�हदी आसान ह,ै इसका �योग बढ़ाइए