**Summary:**
This notification, RBI20212221 DOR.CRE.REC.0604.02.001202122, issued by the Reserve Bank of India (RBI) on April 12, 2021, announces the extension of the Interest Equalization Scheme for pre and post-shipment Rupee export credit. The Government of India has approved the extension for three months, effective from April 1, 2021, and concluding on June 30, 2021. The scope and coverage of the scheme remain unchanged during this extension. The instructions issued previously by the Reserve Bank under this scheme will continue to be in effect until June 30, 2021. This notification is applicable to all Scheduled Commercial Banks (excluding RRBs), Small Finance Banks, Primary Urban Cooperative Banks, and EXIM Bank. For further information, contact Manoranjan Mishra, Chief General Manager, Department of Regulation, Central Office, at Tel No: 22661602, 22601000 or Fax No: 0222270 5670, 2260 5671, 5691 2270, 2260 5692. The central office is located at 12th 13th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai 400001.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking sector.
Interest Equalization Scheme: A scheme by the Government of India to provide interest equalization for pre and post shipment Rupee export credit.
Scheduled Commercial Banks: Banks in India that are listed in the Second Schedule to the Reserve Bank of India Act, 1934.
Regional Rural Banks: Regional Rural Banks (RRBs) are financial institutions in India which operate at a regional level.
Small Finance Banks: Niche banks in India licensed by the Reserve Bank of India to provide basic banking services to underserved populations.
Primary Urban Cooperative Banks: Cooperative banks that operate in urban and semi-urban areas in India.
EXIM Bank: Export-Import Bank of India, a financial institution that facilitates international trade.
Government of India: The Union Government established by the Constitution of India.
RBI/2021-22/21
DOR.CRE.REC.06/04.02.001/2021-22 April 12, 2021
All Scheduled Commercial Banks (excluding RRBs)
Small Finance Banks, Primary (Urban) Cooperative Banks
and EXIM Bank
Dear Sir / Madam,
Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit-
Extension
Please refer to the instructions issued vide DBR.Dir.BC.No.69/04.02.001/2019-20 dated May
13, 2020.
2. In this connection, Government of India has approved the extension of Interest
Equalization Scheme for pre and post shipment Rupee export credit, with same scope and
coverage, for three more months i.e., upto June 30, 2021. The extension takes effect from
April 01, 2021 and ends on June 30, 2021 covering a period of three months.
3. Consequently, the extant operational instructions issued by the Reserve Bank under the
captioned Scheme shall continue to remain in force upto June 30, 2021.
Yours faithfully
(Manoranjan Mishra)
Chief General Manager
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िविनयमन िवभाग, क��ीय कायार्लय, 12व� और 13व� मंिज़ल, क��ीय कायार्लय भवन, शहीद भगत �संह मागर्, मुंबई 400001
टेलीफोन /Tel No: 22661602, 22601000फैक्स/Fax No: 022-2270 5670, 2260 5671, 5691 2270, 2260 5692
Department of Regulation, Central Office, 12th & 13th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai - 400001
Tel No: 22661602, 22601000 F ax No : 022-2270 5670, 2260 5671, 5691 2270, 2260 5692
ब�क �हदं ी म� प�ाचार का स्वागत करता ह ै
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