ANNOUNCEMENT 01 Apr 2010
In April 2010, the Reserve Bank of India extended the interest subvention scheme for the year 2010-11 with reduced the number of eligible sectors.
NUMBER OF INTERVENTIONS
On 23 April 2010, the Reserve Bank of India (RBI) through Circular DBOD. Dir.(Exp).BC. No.94/04.02.001/2009-10 extended the interest subvention facility for the period 1 April 2010 to 31 March 2011. However, the eligible sectors under the scheme were reduced. The following sectors are now excluded -
The subvention scheme provides an additional 2% interest reduction on pre-shipment and post-shipment Rupee export credit for employment oriented export sectors.