ANNOUNCEMENT 01 Jan 2013
In January 2013, the Reserve Bank of India extended the incentives under the interest subvention scheme to certain engineering products for the period starting 1 January 2013.
NUMBER OF INTERVENTIONS
The Reserve Bank of India extended the list of products eligible for an interest rate subvention scheme on export credit. Specifically, it added 134 tariff lines (at the HS 4-digit level) of engineering goods as eligible for the scheme for the period 1 January 2013 to 31 March 2014.
The subvention scheme provides an additional 2% interest reduction on pre-shipment and post-shipment Rupee export credit for certain employment oriented export sectors (see related measure).