Extension of Interest Equalization Scheme 16th March, 2022
Circular | Date: 16-03-2022 | ELCINA |
16th March 2022
To: All ELCINA Members
Extension of Interest Equalization Scheme
Dear Member,
The "Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit" have been extended till 1st July 2022. This is announced vide Reserve Bank of India Circular dated 8th March 2022. RBI has also made few changes in the scheme, which are mentioned as follows:
- Telecom Instruments having six digit HS lines shall be out of the purview of this scheme.
- The rates of Interest equalisation have also been amended i.e, 3% for MSME's and 2% for other Merchandise exporters.
- Procedural changes for availing the scheme benefits
- Beneficiaries under any PLI's would not be eligible for the subject scheme.
For detailed information, kindly refer the scheme notification from HERE. Members are requested to kindly share your views/comments to ashish@elcina.com. with a copy to undersigned.