Govt. Extends Interest Equalization Scheme for Pre and Post-Shipment Rupee Export Credit Upto June 30, 2024 | RBI to Banks

  • Blog|News|FEMA & Banking|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 24 February, 2024

Interest Equalization Scheme

Circular No. RBI/2023-24/124 DOR.STR.REC.78/04.02.001/2023-24; Dated: 22.02.2024

The Govt. has extended the Interest Equalization Scheme for Pre and Post-Shipment Rupee Export Credit Scheme up to June 30, 2024. The rate of interest equalization shall be 2% for Manufacturers and Merchant Exporters exporting under specified 410 HS lines and 3% for MSME manufacturers exporting under any HS line. Further, w.e.f FY 2023-24, banks that have priced loans covered under the scheme at an average interest rate higher than Repo rate + 4% would be subjected to certain restrictions.

Click Here To Read The Full Circular

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Leave a Reply

Your email address will not be published. Required fields are marked *

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied