Interest Equalization Scheme for Exporters Extends

Interest Equalization Scheme for Exporters Extends

To provide relief to the handicrafts exporters regarding the challenges posed by the current crisis, the council has taken up the above issue with various departments at the Central level, which are affecting the handicraft sector.

We want to inform you that the Interest Equalization Scheme has been extended to March 31 2024, vide Circular No. RBI/2021-22/180 DOR.STR.REC.93/04.02.001/2021-22 dated 8th March 2022 by Reserve bank of India . The extension shall take effect from October 01, 2021.

Further, Revised interest equalization rates under the Scheme will now be 3 per cent for MSME manufacturer exporters exporting under any HS lines and 2 per cent for manufacturer exporters and merchant exporters exporting under 410 HS lines. RBI has advised the banks to identify the eligible exporters as per the Scheme credit their accounts with the suitable amount of interest equalization from October 01, 2021, to March 31, 2022.

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