RBI has issued a notification, reference number RBI/2025-26/195, DOR.STR.REC.393/04.02.001/2025-26, dated January 19, 2026, regarding Interest Subvention for Pre- and Post- Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan. It is addressed to All Scheduled Commercial Banks (excluding Regional Rural Banks), Primary (Urban) Co-operative Banks, State Co-operative Banks and All-India Financial Institutions. The Government of India has announced a scheme under the EPM on a pilot basis. The operational instructions for implementation of the Scheme, as notified by the Directorate General of Foreign Trade vide Trade Notice No. 20/2025-26 dated January 2, 2026, read with Trade Notice No. 22/2025-26 dated January 16, 2026, are enclosed. Eligible lending institutions should extend interest subvention to eligible exporters in accordance with the Scheme's provisions and RBI regulations. Eligible lending institutions must ensure that interest subvention is extended only in respect of eligible export credit, and claims are submitted in accordance with prescribed operational instructions and procedures. The notification is signed by Vaibhav Chaturvedi, Chief General Manager.
Key Entities Referenced
Interest Subvention for Pre- and Post- Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan: Scheme for interest subvention on export credit under the Export Promotion Mission (EPM).
Reserve Bank of India: Issuer of the notification regarding the Interest Subvention Scheme.
Trade Notice No. 20/2025-26: Trade notice providing operational instructions for the Interest Subvention Scheme.
Trade Notice No. 22/2025-26: Related trade notice providing additional context or amendments to Trade Notice No. 20/2025-26.
RBI/2025-26/195
DOR.STR.REC.393/04.02.001/2025-26 January 19, 2026
All Scheduled Commercial Banks (excluding Regional Rural Banks);
Primary (Urban) Co-operative Banks;
State Co-operative Banks;
All-India Financial Institutions
Madam / Dear Sir,
Interest Subvention for Pre- and Post- Shipment Export Credit under Export
Promotion Mission (EPM) – Niryat Prothsahan
The Government of India has announced the captioned Scheme under the EPM on a
pilot basis. The operational instructions for implementation of the Scheme, as notified
by the Directorate General of Foreign Trade vide Trade Notice No. 20/2025-26 dated
January 2, 2026, read with Trade Notice No. 22/2025-26 dated January 16, 2026, are
enclosed.
2. In terms of the above instructions, eligible lending institutions shall extend the
benefit of interest subvention to eligible exporters strictly in accordance with the
provisions of the Scheme, and subject to compliance with the extant regulatory
instructions issued by the Reserve Bank.
3. The eligible lending institutions shall ensure that interest subvention is extended
only in respect of eligible export credit, and that claims are submitted in accordance
with the operational instructions and procedures as may be prescribed from time to
time.
Yours faithfully,
(Vaibhav Chaturvedi)
Chief General Manager