Appreciated Rupee - harried exporters - RBI Instructions
Please See DDT 656 Dated 13.07.2007 on the subject, where it had been reported that the Government had decided to come to the rescue of exporters by providing interest subvention (Financial Support) of two percentage points. Now RBI has come out with detailed instructions on the scheme. Banks will be reimbursed the subvention amount on the basis of quarterly claims. The amount of subvention will be on the amount of export credit from the date of disbursement to the date of repayment. The claims are to be accompanied by auditor's certificate.
RBI Instruction No. 22/04.02.01/2007-08, Dated July 13, 2007