Interest Equalization Scheme on Pre and Post Shipment Rupee Export Credit - Extension

Last updated: 03 July 2021

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The Reserve Bank of India has announced an extension of the Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit. This extension, approved by the Government of India, will be in effect for a further three months, from July 1, 2021, to September 30, 2021. The scheme's scope and coverage remain unchanged during this extended period.

RBI/2021-22/65
DOR.CRE(DIR).REC.28/04.02.001/2021-22

July 1, 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 circular DOR.CRE.REC.06/04.02.001/2021-22 dated April 12, 2021.

2. Government of India has approved the extension of Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit, with the same scope and coverage, for a further period of three months, i.e., up to September 30, 2021. The extension takes effect from July 01, 2021 and ends on September 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 up to September 30, 2021.

Yours faithfully

(Manoranjan Mishra)
Chief General Manager

FAQ :

The Interest Equalization Scheme provides support for pre and post-shipment rupee export credit.

Yes, the Government of India has approved an extension of the scheme.

The scheme has been extended for a further period of three months.

The extension takes effect from July 1, 2021, and ends on September 30, 2021.

No, the scheme will continue with the same scope and coverage.

All Scheduled Commercial Banks (excluding RRBs), Small Finance Banks, Primary (Urban) Cooperative Banks, and EXIM Bank.

Notification No : RBI/2021-22/65 DOR.CRE(DIR).REC.28/04.02.001/2021-22
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12124&Mode=0

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