Two percent Rupee Export Credit Interest Rate Subvention Widened for 6 Textiles and 101 Engg Goods for the period 1 April 2013 to 31 March 2014

[Ref: DBOD.Dir.BC.No.94/04.02.001/2012-13 dated 24 May 2013]

Subject: Rupee Export Credit - Interest Subvention

Please refer to our circular DBOD.Dir.(Exp).BC.No.70/04.02.001/2012-13 dated January 14, 2013 wherein interest subvention of 2% was extended w.e.f. January 1, 2013 to March 31, 2014 on pre and post shipment rupee export credit for certain employment orientated export sectors.

2. In continuation of the above circular it has been decided to widen the interest subvention scheme to the following sectors for the period April 1, 2013 to March 31, 2014, on the same terms and conditions:

1. ITC(HS) and Textiles good to 6 tariff lines as per the list given in the Annex –I.

2. Additional 101 tariff lines in engineering good sector in addition to the existing 134 lines as per the list given in Annex- II.

3. A directive No. DBOD.Dir.BC.No.93/04.02.01/2012-13 dated May 24, 2013 issued in this regard is enclosed.

4. All other terms and conditions mentioned in our circular dated January 14, 2013 remain unchanged.

DBOD.Dir.BC.No.93/04.02.001/2012-13

May 24, 2013

Rupee Export Credit - Interest Subvention

In exercise of the powers conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, in partial modification of directive DBOD.Dir.(Exp).BC.No.69 / 04.02.001/2012-13 dated January 14, 2013, hereby notifies as under:

2. It has been decided to widen the scheme to following sectors for the period April 1, 2013 to March 31, 2014 on the same terms and conditions:

1. ITC (HS) and Textiles good to 6 tariff lines as per the list given in the Annex -I

2. Additional 101 tariff lines in engineering good sector in addition to the existing 134 lines as per the list given in Annex- II